Oppenheimer Asset Management Inc. Sells 5,055 Shares of Kirby Co. (NYSE:KEX)

Oppenheimer Asset Management Inc. reduced its stake in Kirby Co. (NYSE:KEX) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,086 shares of the shipping company’s stock after selling 5,055 shares during the period. Oppenheimer Asset Management Inc. owned about 0.13% of Kirby worth $7,838,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in KEX. Farther Finance Advisors LLC raised its position in Kirby by 420.0% in the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 168 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Kirby in the fourth quarter valued at approximately $25,000. Brooklyn Investment Group bought a new position in Kirby in the 3rd quarter valued at approximately $42,000. Capital Performance Advisors LLP acquired a new stake in Kirby during the 3rd quarter worth approximately $52,000. Finally, R Squared Ltd bought a new stake in Kirby during the 4th quarter worth approximately $76,000. 96.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Kirby from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Stifel Nicolaus lowered 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.25.

Insider Transactions at Kirby

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 stock was sold at an average price of $107.61, for a total transaction of $133,866.84. Following the completion of the sale, the vice president now owns 5,545 shares of the company’s stock, valued at $596,697.45. This trade represents a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.50% of the company’s stock.

Kirby Stock Up 1.8 %

Kirby stock opened at $104.19 on Friday. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 0.88 and a beta of 1.19. Kirby Co. has a 52-week low of $86.02 and a 52-week high of $132.21. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.05 and a current ratio of 1.45. The firm has a 50 day moving average price of $106.80 and a two-hundred day moving average price of $116.16.

Kirby (NYSE:KEX) last announced its earnings results on Thursday, January 30th. The shipping company reported $1.29 earnings per share 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%. Equities analysts predict that Kirby Co. will post 6.57 EPS for the current year.

Kirby 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.