Raymond James Financial Inc. Invests $18.75 Million in Kirby Co. (NYSE:KEX)

Raymond James Financial Inc. acquired a new stake in Kirby Co. (NYSE:KEX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 177,215 shares of the shipping company's stock, valued at approximately $18,749,000. Raymond James Financial Inc. owned about 0.31% of Kirby as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in KEX. Wilmington Savings Fund Society FSB increased its holdings in Kirby by 112.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 5,208 shares of the shipping company's stock valued at $638,000 after purchasing an additional 2,756 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of Kirby in the 3rd quarter valued at about $5,136,000. JPMorgan Chase & Co. raised its position in shares of Kirby by 27.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 142,265 shares of the shipping company's stock valued at $17,418,000 after acquiring an additional 30,713 shares during the period. First Hawaiian Bank grew its holdings in Kirby by 17.2% during the fourth quarter. First Hawaiian Bank now owns 23,524 shares of the shipping company's stock valued at $2,489,000 after purchasing an additional 3,459 shares during the period. Finally, Oak Thistle LLC acquired a new stake in Kirby in the fourth quarter worth $614,000. Institutional investors own 96.15% of the company's stock.

Kirby Stock Down 1.6 %

Shares of KEX stock traded down $1.55 on Friday, hitting $96.65. 35,477 shares of the stock were exchanged, compared to its average volume of 538,568. The company has a current ratio of 1.45, a quick ratio of 1.05 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $5.50 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 0.88 and a beta of 0.99. Kirby Co. has a fifty-two week low of $83.94 and a fifty-two week high of $132.21. The business has a 50-day moving average of $98.47 and a 200 day moving average of $109.77.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The shipping company reported $1.29 earnings per share for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). Kirby had a return on equity of 9.71% and a net margin of 8.78%. Equities analysts anticipate that Kirby Co. will post 6.57 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Kirby

In other Kirby news, VP Scott P. Miller sold 1,244 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $107.61, for a total transaction of $133,866.84. Following the sale, the vice president now directly owns 5,545 shares of the company's stock, valued at $596,697.45. The trade was a 18.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.90% of the stock is owned by insiders.

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.