Kirby Co. (NYSE:KEX) Shares Sold by Park West Asset Management LLC

Park West Asset Management LLC lowered its holdings in Kirby Co. (NYSE:KEX - Free Report) by 13.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 458,279 shares of the shipping company's stock after selling 73,635 shares during the period. Kirby makes up 3.9% of Park West Asset Management LLC's holdings, making the stock its 8th biggest holding. Park West Asset Management LLC owned approximately 0.80% of Kirby worth $48,486,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its position in shares of Kirby by 1.6% during the fourth quarter. Wellington Management Group LLP now owns 1,762,651 shares of the shipping company's stock worth $186,488,000 after acquiring an additional 28,259 shares during the period. First Trust Advisors LP grew its holdings in Kirby by 69.7% during the 4th quarter. First Trust Advisors LP now owns 876,292 shares of the shipping company's stock worth $92,712,000 after acquiring an additional 359,770 shares in the last quarter. Norges Bank purchased a new stake in shares of Kirby in the 4th quarter valued at approximately $74,293,000. Victory Capital Management Inc. raised its holdings in shares of Kirby by 10.2% in the 4th quarter. Victory Capital Management Inc. now owns 525,708 shares of the shipping company's stock valued at $55,620,000 after purchasing an additional 48,475 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Kirby by 10.2% during the 4th quarter. Northern Trust Corp now owns 518,255 shares of the shipping company's stock worth $54,831,000 after purchasing an additional 47,895 shares during the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Kirby

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

Kirby Stock Performance

Shares of Kirby stock traded up $5.30 on Friday, hitting $104.88. The stock had a trading volume of 1,107,886 shares, compared to its average volume of 539,670. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of 21.36, a P/E/G ratio of 0.88 and a beta of 0.99. The company has a current ratio of 1.45, a quick ratio of 1.05 and a debt-to-equity ratio of 0.26. Kirby Co. has a 52-week low of $83.94 and a 52-week high of $132.21. The company's 50 day moving average price is $97.59 and its 200 day moving average price is $108.89.

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 for the quarter, beating the consensus estimate of $1.27 by $0.06. Kirby had a return on equity of 9.71% and a net margin of 8.78%. The business had revenue of $785.66 million during the quarter, compared to the consensus estimate of $824.12 million. During the same period in the prior year, the company earned $1.19 earnings per share. The company's revenue was down 2.8% compared to the same quarter last year. On average, research analysts anticipate that Kirby Co. will post 6.57 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on KEX shares. 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 report on Friday, March 28th. Stifel Nicolaus lowered their price target on Kirby from $136.00 to $135.00 and set a "buy" rating for the company in a report on Friday, January 31st. Finally, StockNews.com cut shares of Kirby from a "buy" rating to a "hold" rating in a report 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.