Kirby Co. (NYSE:KEX) Shares Purchased by Millennium Management LLC

Millennium Management LLC grew its stake in Kirby Co. (NYSE:KEX - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 410,233 shares of the shipping company's stock after buying an additional 12,973 shares during the quarter. Millennium Management LLC owned 0.71% of Kirby worth $43,403,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of KEX. Norges Bank acquired a new position in shares of Kirby in the 4th quarter valued at about $74,293,000. First Trust Advisors LP lifted its holdings in shares of Kirby by 69.7% in the 4th quarter. First Trust Advisors LP now owns 876,292 shares of the shipping company's stock valued at $92,712,000 after buying an additional 359,770 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Kirby by 848.5% in the 4th quarter. Franklin Resources Inc. now owns 393,647 shares of the shipping company's stock valued at $41,648,000 after buying an additional 352,144 shares during the period. Artemis Investment Management LLP lifted its holdings in shares of Kirby by 112.0% in the 4th quarter. Artemis Investment Management LLP now owns 382,835 shares of the shipping company's stock valued at $40,504,000 after buying an additional 202,272 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Kirby in the 4th quarter valued at about $18,749,000. Institutional investors and hedge funds own 96.15% of the company's stock.

Analyst Ratings Changes

KEX has been the subject of several recent analyst reports. Bank of America lifted their price target on Kirby from $116.00 to $125.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Stifel Nicolaus cut their price target on Kirby from $136.00 to $135.00 and set a "buy" rating for the company in a research note on Friday, January 31st.

Kirby Price Performance

Shares of Kirby stock traded up $0.39 on Friday, hitting $107.58. 488,168 shares of the company were exchanged, compared to its average volume of 539,635. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 0.88 and a beta of 0.91. The company has a 50-day moving average price of $100.08 and a 200 day moving average price of $107.37. Kirby Co. has a 1-year low of $83.94 and a 1-year high of $132.21. The company has a quick ratio of 1.05, a current ratio of 1.45 and a debt-to-equity ratio of 0.26.

Kirby (NYSE:KEX - Get Free Report) last issued its earnings results on Thursday, May 1st. The shipping company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.06. The business had revenue of $785.66 million for the quarter, compared to analysts' expectations of $824.12 million. Kirby had a return on equity of 9.71% and a net margin of 8.78%. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.19 EPS. As a group, sell-side analysts predict that Kirby Co. will post 6.57 earnings per share for the current fiscal year.

Kirby Profile

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.