Kirby Co. (NYSE:KEX) Shares Sold by Shelton Capital Management

Shelton Capital Management trimmed its holdings in shares of Kirby Co. (NYSE:KEX) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,304 shares of the shipping company’s stock after selling 150 shares during the quarter. Shelton Capital Management’s holdings in Kirby were worth $244,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of KEX. Janney Montgomery Scott LLC grew its position in shares of Kirby by 1.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 8,459 shares of the shipping company’s stock worth $895,000 after acquiring an additional 108 shares in the last quarter. Huntington National Bank boosted its holdings in Kirby by 6.8% in 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 increased its stake in Kirby by 0.5% during the fourth quarter. Corient Private Wealth LLC now owns 30,914 shares of the shipping company’s stock valued at $3,271,000 after purchasing an additional 140 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Kirby by 13.1% during 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 period. Finally, Empowered Funds LLC bought a new position in shares of Kirby in the 4th quarter worth about $25,000. Institutional investors and hedge funds own 96.15% of the company’s stock.

Kirby Trading Up 3.6 %

Kirby stock opened at $96.59 on Friday. The firm has a 50-day moving average price of $100.66 and a two-hundred day moving average price of $111.39. Kirby Co. has a 52-week low of $83.94 and a 52-week high of $132.21. The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 0.88 and a beta of 0.99. The company has a quick ratio of 1.05, a current ratio of 1.45 and a debt-to-equity ratio of 0.26.

Kirby (NYSE:KEX) last issued its quarterly earnings data 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 9.71% and a net margin of 8.78%. Sell-side analysts expect that Kirby Co. will post 6.57 earnings per share for the current year.

Insider Activity

In related news, VP Scott P. Miller sold 1,244 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $107.61, for a total transaction of $133,866.84. Following the transaction, the vice president now owns 5,545 shares in the company, valued at $596,697.45. This trade represents a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on KEX shares. Stifel Nicolaus dropped their price objective on shares of 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 cut their price target on Kirby from $133.00 to $123.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Finally, StockNews.com downgraded Kirby from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th.

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.