Kirby Co. (NYSE:KEX) Position Cut by Federated Hermes Inc.

Federated Hermes Inc. decreased its stake in shares of Kirby Co. (NYSE:KEX - Free Report) by 17.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,455 shares of the shipping company's stock after selling 21,022 shares during the quarter. Federated Hermes Inc. owned about 0.16% of Kirby worth $7,570,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Kirby in the fourth quarter worth $53,000. NBC Securities Inc. acquired a new stake in shares of Kirby in the third quarter worth $59,000. AXQ Capital LP acquired a new stake in shares of Kirby in the third quarter worth $224,000. Panagora Asset Management Inc. acquired a new stake in Kirby during the third quarter valued at $226,000. Finally, Vestmark Advisory Solutions Inc. acquired a new stake in Kirby during the third quarter valued at $239,000. Institutional investors and hedge funds own 96.15% of the company's stock.

Kirby Price Performance

Shares of NYSE:KEX traded up $11.05 during midday trading on Thursday, hitting $112.10. The company's stock had a trading volume of 1,469,752 shares, compared to its average volume of 413,317. The business's 50 day simple moving average is $92.20 and its 200 day simple moving average is $83.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.68. The company has a market cap of $6.56 billion, a P/E ratio of 29.26, a price-to-earnings-growth ratio of 1.72 and a beta of 1.21. Kirby Co. has a 12-month low of $66.42 and a 12-month high of $114.35.

Kirby (NYSE:KEX - Get Free Report) last posted its quarterly earnings results on Thursday, February 1st. The shipping company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.01. The firm had revenue of $799.18 million for the quarter, compared to the consensus estimate of $778.70 million. Kirby had a net margin of 7.21% and a return on equity of 7.12%. The company's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the firm posted $0.67 earnings per share. On average, analysts forecast that Kirby Co. will post 4.93 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on KEX shares. Wolfe Research started coverage on shares of Kirby in a research report on Monday. They set an "outperform" rating and a $126.00 price target on the stock. Stephens restated an "overweight" rating and set a $105.00 price target on shares of Kirby in a research report on Monday, February 5th. StockNews.com raised shares of Kirby from a "hold" rating to a "buy" rating in a report on Tuesday, April 16th. Stifel Nicolaus increased their price objective on shares of Kirby from $100.00 to $118.00 and gave the company a "buy" rating in a report on Friday, April 19th. Finally, BTIG Research increased their price objective on shares of Kirby from $100.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, April 3rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $116.00.

Insiders Place Their Bets

In other Kirby news, VP Scott P. Miller sold 1,828 shares of Kirby stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $79.60, for a total transaction of $145,508.80. Following the transaction, the vice president now directly owns 1,000 shares of the company's stock, valued at $79,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Kirby news, VP Scott P. Miller sold 487 shares of Kirby stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $99.78, for a total transaction of $48,592.86. Following the completion of the sale, the vice president now directly owns 1,000 shares in the company, valued at $99,780. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Scott P. Miller sold 1,828 shares of Kirby stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $79.60, for a total transaction of $145,508.80. Following the completion of the transaction, the vice president now owns 1,000 shares of the company's stock, valued at approximately $79,600. The disclosure for this sale can be found here. Insiders have sold 56,418 shares of company stock valued at $4,932,521 over the last ninety days. Company insiders own 1.50% of the company's stock.

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.