Cerity Partners LLC Sells 2,675 Shares of Kirby Co. (NYSE:KEX)

Cerity Partners LLC cut its position in shares of Kirby Co. (NYSE:KEX) by 32.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,477 shares of the shipping company’s stock after selling 2,675 shares during the period. Cerity Partners LLC’s holdings in Kirby were worth $639,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in KEX. Wilmington Savings Fund Society FSB lifted its stake in Kirby by 112.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 5,208 shares of the shipping company’s stock worth $638,000 after acquiring an additional 2,756 shares during the period. Franklin Resources Inc. bought a new stake in shares of Kirby in the 3rd quarter valued at about $5,136,000. JPMorgan Chase & Co. increased its holdings in shares of 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 acquiring an additional 30,713 shares during the period. First Hawaiian Bank raised its position in shares of Kirby by 17.2% in the 4th quarter. First Hawaiian Bank now owns 23,524 shares of the shipping company’s stock worth $2,489,000 after acquiring an additional 3,459 shares in the last quarter. Finally, Oak Thistle LLC bought a new stake in shares of Kirby in the 4th quarter valued at about $614,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Kirby Stock Performance

Shares of KEX opened at $95.18 on Monday. The stock has a 50-day moving average of $99.44 and a two-hundred day moving average of $110.35. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.05 and a current ratio of 1.45. The stock has a market cap of $5.42 billion, a P/E ratio of 19.38, a P/E/G ratio of 0.88 and a beta of 0.99. Kirby Co. has a one year low of $83.94 and a one year high of $132.21.

Kirby (NYSE:KEX) last issued its earnings results on Thursday, January 30th. The shipping company reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). Kirby had a net margin of 8.78% and a return on equity of 9.71%. As a group, research analysts predict that Kirby Co. will post 6.57 EPS for the current year.

Insider Buying and Selling at Kirby

In other news, VP Scott P. Miller sold 1,244 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $107.61, for a total value of $133,866.84. Following the sale, the vice president now owns 5,545 shares in the company, valued at $596,697.45. This represents a 18.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on KEX shares. Stifel Nicolaus lowered their target price on shares of Kirby from $136.00 to $135.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Bank of America decreased their price target on Kirby from $133.00 to $123.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Finally, StockNews.com lowered Kirby from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th.

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.