Wells Fargo & Company MN Cuts Stock Holdings in Kirby Co. (NYSE:KEX)

Wells Fargo & Company MN lowered its position in shares of Kirby Co. (NYSE:KEX - Free Report) by 48.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,922 shares of the shipping company's stock after selling 18,084 shares during the period. Wells Fargo & Company MN's holdings in Kirby were worth $2,002,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of KEX. Janney Montgomery Scott LLC raised its holdings in Kirby by 1.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 8,459 shares of the shipping company's stock valued at $895,000 after buying an additional 108 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Kirby by 6.8% during the fourth quarter. Huntington National Bank now owns 1,781 shares of the shipping company's stock worth $188,000 after purchasing an additional 113 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of Kirby by 0.5% during the fourth quarter. Corient Private Wealth LLC now owns 30,914 shares of the shipping company's stock worth $3,271,000 after purchasing an additional 140 shares during the period. Signaturefd LLC grew its stake in shares of Kirby by 13.1% in the fourth quarter. Signaturefd LLC now owns 1,746 shares of the shipping company's stock worth $185,000 after purchasing an additional 202 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Kirby in the 4th quarter worth approximately $25,000. 96.15% of the stock is owned by hedge funds and other institutional investors.

Kirby Price Performance

Shares of NYSE:KEX traded up $2.42 during mid-day trading on Thursday, reaching $98.79. The stock had a trading volume of 125,236 shares, compared to its average volume of 532,461. The business's 50 day moving average price is $97.62 and its 200 day moving average price is $109.05. Kirby Co. has a 1 year low of $83.94 and a 1 year high of $132.21. The company has a market cap of $5.62 billion, a P/E ratio of 20.12, a price-to-earnings-growth 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 (NYSE:KEX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.02. Kirby had a return on equity of 9.71% and a net margin of 8.78%. The firm's revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.19 EPS. Research analysts expect that Kirby Co. will post 6.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Kirby

In other news, VP Scott P. Miller sold 1,244 shares of Kirby stock in a transaction 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 transaction, the vice president now directly owns 5,545 shares in the company, valued at approximately $596,697.45. This trade represents a 18.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.90% 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.