Artemis Investment Management LLP Raises Stock Position in Kirby Co. (NYSE:KEX)

Artemis Investment Management LLP grew its holdings in Kirby Co. (NYSE:KEX) by 112.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 382,835 shares of the shipping company’s stock after purchasing an additional 202,272 shares during the quarter. Artemis Investment Management LLP owned 0.67% of Kirby worth $40,504,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in Kirby by 27.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 142,265 shares of the shipping company’s stock valued at $17,418,000 after buying an additional 30,713 shares during the period. Samlyn Capital LLC boosted its holdings in Kirby by 7.8% in the second quarter. Samlyn Capital LLC now owns 319,752 shares of the shipping company’s stock valued at $38,284,000 after purchasing an additional 23,086 shares during the period. Creative Planning grew its stake in Kirby by 2.2% during the 3rd quarter. Creative Planning now owns 6,683 shares of the shipping company’s stock worth $818,000 after purchasing an additional 147 shares in the last quarter. Atria Investments Inc increased its holdings in Kirby by 27.5% during the 3rd quarter. Atria Investments Inc now owns 35,353 shares of the shipping company’s stock worth $4,328,000 after purchasing an additional 7,629 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in Kirby by 70.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 74,875 shares of the shipping company’s stock valued at $8,965,000 after purchasing an additional 31,011 shares in the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Kirby from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Kirby has an average rating of “Moderate Buy” and a consensus target price of $123.80.

Insider Transactions at Kirby

In related news, Director Richard Ross Stewart sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $128.21, for a total transaction of $1,025,680.00. Following the transaction, the director now owns 15,488 shares in the company, valued at $1,985,716.48. This trade represents a 34.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Ronald A. Dragg sold 2,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $127.30, for a total value of $294,444.90. Following the completion of the sale, the vice president now owns 7,683 shares of the company’s stock, valued at approximately $978,045.90. This represents a 23.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,354 shares of company stock worth $3,275,455. 1.50% of the stock is currently owned by insiders.

Kirby Stock Performance

NYSE:KEX opened at $111.91 on Friday. The firm has a market capitalization of $6.42 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 0.52 and a beta of 1.21. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05. The business’s fifty day moving average price is $115.90 and its 200 day moving average price is $118.62. Kirby Co. has a 12 month low of $76.12 and a 12 month high of $132.21.

Kirby (NYSE:KEX) last issued its earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.08. The business had revenue of $831.10 million for the quarter, compared to analyst estimates of $824.42 million. Kirby had a return on equity of 9.43% and a net margin of 9.37%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company earned $1.05 EPS. On average, sell-side analysts anticipate that Kirby Co. will post 5.45 earnings per share for the current fiscal year.

About Kirby

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.