Sapience Investments LLC Reduces Stock Holdings in Kirby Co. (NYSE:KEX)

Sapience Investments LLC cut its position in shares of Kirby Co. (NYSE:KEX - Free Report) by 24.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,218 shares of the shipping company's stock after selling 7,123 shares during the quarter. Sapience Investments LLC's holdings in Kirby were worth $2,351,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in KEX. Norges Bank purchased a new stake in shares of Kirby in the 4th quarter worth about $74,293,000. Select Equity Group L.P. lifted its holdings in shares of Kirby by 59.0% during the fourth quarter. Select Equity Group L.P. now owns 1,565,693 shares of the shipping company's stock valued at $165,650,000 after purchasing an additional 581,215 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Kirby by 69.7% in the 4th quarter. First Trust Advisors LP now owns 876,292 shares of the shipping company's stock worth $92,712,000 after purchasing an additional 359,770 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Kirby by 848.5% in the 4th quarter. Franklin Resources Inc. now owns 393,647 shares of the shipping company's stock worth $41,648,000 after buying an additional 352,144 shares during the last quarter. Finally, Artemis Investment Management LLP increased its position in Kirby by 112.0% during the 4th quarter. Artemis Investment Management LLP now owns 382,835 shares of the shipping company's stock valued at $40,504,000 after buying an additional 202,272 shares in the last quarter. 96.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on KEX. Stifel Nicolaus reduced 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. Bank of America lifted their target price on shares of Kirby from $116.00 to $125.00 and gave the stock a "buy" rating in a report on Friday, May 16th.

Kirby Stock Down 0.6%

Shares of Kirby stock traded down $0.70 on Thursday, reaching $107.21. The company's stock had a trading volume of 164,955 shares, compared to its average volume of 539,511. Kirby Co. has a 52 week low of $83.94 and a 52 week high of $132.21. The firm's fifty day simple moving average is $99.77 and its two-hundred day simple moving average is $107.49. The company has a quick ratio of 1.05, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $6.01 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 0.88 and a beta of 0.91.

Kirby (NYSE:KEX - Get Free Report) last issued its earnings results on Thursday, May 1st. The shipping company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $824.12 million. During the same quarter in the previous year, the firm earned $1.19 EPS. Kirby's revenue was down 2.8% on a year-over-year basis. Equities analysts anticipate that Kirby Co. will post 6.57 earnings per share for the current year.

Kirby Company 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.