Guggenheim Capital LLC Cuts Stake in Kirby Co. (NYSE:KEX)

Guggenheim Capital LLC reduced its position in shares of Kirby Co. (NYSE:KEX - Free Report) by 94.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,778 shares of the shipping company's stock after selling 93,659 shares during the quarter. Guggenheim Capital LLC's holdings in Kirby were worth $611,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in KEX. Wilmington Savings Fund Society FSB raised its stake in shares of Kirby by 112.4% during the third quarter. Wilmington Savings Fund Society FSB now owns 5,208 shares of the shipping company's stock valued at $638,000 after acquiring an additional 2,756 shares during the last quarter. Franklin Resources Inc. bought a new position in Kirby during the 3rd quarter valued at approximately $5,136,000. JPMorgan Chase & Co. raised its position in Kirby by 27.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 142,265 shares of the shipping company's stock valued at $17,418,000 after purchasing an additional 30,713 shares during the last quarter. First Hawaiian Bank lifted its holdings in 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 buying an additional 3,459 shares during the period. Finally, Oak Thistle LLC bought a new stake in shares of Kirby in the 4th quarter worth approximately $614,000. Hedge funds and other institutional investors own 96.15% of the company's stock.

Kirby Stock Up 2.6 %

Shares of KEX traded up $2.47 on Thursday, reaching $98.84. The stock had a trading volume of 261,845 shares, compared to its average volume of 533,575. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 0.88 and a beta of 0.99. The company has a 50-day simple moving average of $97.62 and a 200-day simple moving average of $109.05. Kirby Co. has a 12-month low of $83.94 and a 12-month high of $132.21. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.05 and a current ratio of 1.45.

Kirby (NYSE:KEX - Get Free Report) last announced its earnings results on Thursday, May 1st. The shipping company reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.02. Kirby had a net margin of 8.78% and a return on equity of 9.71%. The company's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.19 EPS. Sell-side analysts predict that Kirby Co. will post 6.57 EPS for the current year.

Insiders Place Their Bets

In related news, VP Scott P. Miller sold 1,244 shares of the company's stock in a transaction that occurred on 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stifel Nicolaus decreased their target price on Kirby from $136.00 to $135.00 and set a "buy" rating for the company in a report on Friday, January 31st. StockNews.com cut shares of Kirby from a "buy" rating to a "hold" rating in a research report on Thursday, January 9th. Finally, Bank of America reduced their price target on shares of Kirby from $133.00 to $123.00 and set a "buy" rating on the stock in a research report on Friday, March 28th.

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.