Magnetar Financial LLC Invests $6.03 Million in Kirby Co. (NYSE:KEX)

Magnetar Financial LLC acquired a new position in Kirby Co. (NYSE:KEX) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 56,962 shares of the shipping company’s stock, valued at approximately $6,027,000.

Several other institutional investors have also recently made changes to their positions in the stock. Xponance Inc. raised its stake in shares of Kirby by 11.3% in the fourth quarter. Xponance Inc. now owns 6,961 shares of the shipping company’s stock worth $736,000 after buying an additional 704 shares during the period. American Assets Investment Management LLC raised its stake in shares of Kirby by 25.9% in the fourth quarter. American Assets Investment Management LLC now owns 10,580 shares of the shipping company’s stock worth $1,119,000 after buying an additional 2,175 shares during the period. Primecap Management Co. CA raised its stake in shares of Kirby by 0.8% in the fourth quarter. Primecap Management Co. CA now owns 270,150 shares of the shipping company’s stock worth $28,582,000 after buying an additional 2,150 shares during the period. Counterpoint Mutual Funds LLC purchased a new stake in shares of Kirby during the fourth quarter worth about $303,000. Finally, Signaturefd LLC grew its position 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 in the last quarter. Institutional investors own 96.15% of the company’s stock.

Analyst Ratings Changes

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

Kirby Stock Performance

NYSE:KEX opened at $100.67 on Thursday. 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 Co. has a 12-month low of $89.28 and a 12-month high of $132.21. The stock has a 50-day moving average price of $104.83 and a 200 day moving average price of $114.28. The stock has a market capitalization of $5.73 billion, a P/E ratio of 20.50, a P/E/G ratio of 0.88 and a beta of 1.18.

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

Insider Buying and Selling at Kirby

In other Kirby news, VP Scott P. Miller sold 1,244 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $107.61, for a total transaction of $133,866.84. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.50% of the stock is currently 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.