Kirby Co. (NYSE:KEX) Shares Sold by Twinbeech Capital LP

Twinbeech Capital LP cut its position in shares of Kirby Co. (NYSE:KEX - Free Report) by 90.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,290 shares of the shipping company's stock after selling 51,064 shares during the period. Twinbeech Capital LP's holdings in Kirby were worth $560,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Empowered Funds LLC purchased a new position in Kirby during the fourth quarter valued at $25,000. Colonial Trust Co SC increased its position in shares of Kirby by 295.3% during the fourth quarter. Colonial Trust Co SC now owns 253 shares of the shipping company's stock valued at $27,000 after acquiring an additional 189 shares during the last quarter. LGT Financial Advisors LLC purchased a new position in shares of Kirby in the fourth quarter valued at approximately $63,000. R Squared Ltd purchased a new position in shares of Kirby in the fourth quarter valued at approximately $76,000. Finally, Quarry LP purchased a new position in shares of Kirby in the fourth quarter valued at approximately $133,000. 96.15% of the stock is owned by hedge funds and other institutional investors.

Kirby Trading Down 0.3%

Shares of KEX traded down $0.32 during mid-day trading on Wednesday, hitting $110.58. The company had a trading volume of 205,299 shares, compared to its average volume of 540,154. The business's 50-day simple moving average is $100.44 and its 200-day simple moving average is $106.99. 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 Co. has a 1-year low of $83.94 and a 1-year high of $132.21. The stock has a market cap of $6.20 billion, a PE ratio of 22.48, a P/E/G ratio of 0.88 and a beta of 0.91.

Kirby (NYSE:KEX - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.06. The company had revenue of $785.66 million for the quarter, compared to analyst estimates of $824.12 million. Kirby had a net margin of 8.78% and a return on equity of 9.71%. The business's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.19 earnings per share. Sell-side analysts forecast that Kirby Co. will post 6.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.