AGF Management Ltd. Increases Stake in Kirby Co. (NYSE:KEX)

AGF Management Ltd. increased its holdings in Kirby Co. (NYSE:KEX) by 371.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 66,313 shares of the shipping company’s stock after purchasing an additional 52,247 shares during the period. AGF Management Ltd. owned approximately 0.12% of Kirby worth $7,016,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in KEX. Artemis Investment Management LLP boosted 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 during the period. Victory Capital Management Inc. boosted its position in Kirby by 68.7% during the 3rd quarter. Victory Capital Management Inc. now owns 477,233 shares of the shipping company’s stock valued at $58,428,000 after buying an additional 194,410 shares during the period. Raymond James Financial Inc. purchased a new stake in Kirby during the 4th quarter valued at $18,749,000. DAVENPORT & Co LLC purchased a new stake in Kirby during the 4th quarter valued at $16,390,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Kirby by 27.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company’s stock valued at $85,585,000 after buying an additional 152,146 shares during the period. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Analyst Ratings Changes

KEX has been the subject of several analyst reports. StockNews.com cut shares of Kirby from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Stifel Nicolaus dropped their price target on shares of Kirby from $136.00 to $135.00 and set a “buy” rating for the company in a research report on Friday, January 31st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Kirby currently has an average rating of “Moderate Buy” and an average price target of $129.25.

Kirby Trading Up 0.3 %

NYSE:KEX opened at $96.63 on Thursday. The company has a 50-day moving average price of $105.47 and a 200-day moving average price of $114.96. Kirby Co. has a 12 month low of $87.57 and a 12 month high of $132.21. 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 stock has a market cap of $5.52 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 0.88 and a beta of 1.18.

Kirby (NYSE:KEX) last posted its earnings results on Thursday, January 30th. The shipping company reported $1.29 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.01). Kirby had a return on equity of 9.71% and a net margin of 8.78%. Equities analysts predict that Kirby Co. will post 6.57 EPS for the current year.

Insider Buying and Selling

In related news, VP Scott P. Miller sold 1,244 shares of the stock in a transaction dated Wednesday, February 5th. The shares were 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 $596,697.45. This trade represents a 18.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is owned by company 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.