98,697 Shares in Kirby Co. (NYSE:KEX) Acquired by Empire Life Investments Inc.

Empire Life Investments Inc. purchased a new position in Kirby Co. (NYSE:KEX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 98,697 shares of the shipping company’s stock, valued at approximately $10,442,000. Empire Life Investments Inc. owned about 0.17% of Kirby as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in shares of Kirby by 420.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock worth $25,000 after buying an additional 168 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Kirby in the 4th quarter worth approximately $25,000. Brooklyn Investment Group purchased a new stake in shares of Kirby in the 3rd quarter worth approximately $42,000. Capital Performance Advisors LLP purchased a new stake in shares of Kirby in the 3rd quarter worth approximately $52,000. Finally, R Squared Ltd purchased a new stake in shares of Kirby in the 4th quarter worth approximately $76,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Insider Transactions at Kirby

In related news, Director Richard Ross Stewart sold 8,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $128.21, for a total value of $1,025,680.00. Following the transaction, the director now directly owns 15,488 shares of the company’s stock, valued at approximately $1,985,716.48. This trade represents a 34.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott P. Miller sold 1,244 shares of the firm’s 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 completion of the transaction, the vice president now directly owns 5,545 shares in the company, valued at approximately $596,697.45. This represents a 18.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on KEX shares. StockNews.com downgraded Kirby from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Stifel Nicolaus cut their target price on Kirby from $136.00 to $135.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Kirby has an average rating of “Moderate Buy” and an average target price of $129.25.

Kirby Stock Performance

Shares of KEX opened at $108.47 on Friday. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 22.09, a P/E/G ratio of 0.89 and a beta of 1.19. Kirby Co. has a 12 month low of $84.56 and a 12 month high of $132.21. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The business’s fifty day simple moving average is $108.69 and its two-hundred day simple moving average is $116.85.

Kirby (NYSE:KEX) last released its quarterly earnings results on Thursday, January 30th. The shipping company reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). Kirby had a return on equity of 9.78% and a net margin of 8.78%. Research analysts anticipate that Kirby Co. will post 6.54 earnings per share for the current fiscal 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.