Quantbot Technologies LP Invests $1.75 Million in Kirby Co. (NYSE:KEX)

Quantbot Technologies LP acquired a new stake in shares of Kirby Co. (NYSE:KEX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,554 shares of the shipping company’s stock, valued at approximately $1,751,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Magnetar Financial LLC purchased a new position in Kirby in the 4th quarter worth $6,027,000. Xponance Inc. increased its holdings in shares of Kirby by 11.3% in the fourth quarter. Xponance Inc. now owns 6,961 shares of the shipping company’s stock valued at $736,000 after purchasing 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 purchasing an additional 2,175 shares during the last quarter. Primecap Management Co. CA lifted its holdings in shares of Kirby by 0.8% during the fourth quarter. Primecap Management Co. CA now owns 270,150 shares of the shipping company’s stock worth $28,582,000 after purchasing an additional 2,150 shares during the period. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of Kirby during the fourth quarter worth about $303,000. 96.15% of the stock is owned by hedge funds and other institutional investors.

Kirby Stock Up 3.1 %

Shares of KEX stock opened at $104.47 on Tuesday. 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 twelve month low of $92.13 and a twelve month high of $132.21. The stock has a 50 day moving average of $104.67 and a 200 day moving average of $113.94. The stock has a market cap of $5.94 billion, a P/E ratio of 21.28, 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 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%. As a group, sell-side analysts expect that Kirby Co. will post 6.57 EPS for the current year.

Insiders Place Their Bets

In related news, VP Scott P. Miller sold 1,244 shares of Kirby stock in a transaction dated 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 owns 5,545 shares in the company, valued at $596,697.45. The trade was a 18.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.