Alberta Investment Management Corp Makes New $2.10 Million Investment in Kirby Co. (NYSE:KEX)

Alberta Investment Management Corp purchased a new stake in Kirby Co. (NYSE:KEX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 19,839 shares of the shipping company’s stock, valued at approximately $2,099,000.

Other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its stake 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 acquiring an additional 168 shares during the period. Empowered Funds LLC acquired a new stake in Kirby during the fourth quarter valued at approximately $25,000. Brooklyn Investment Group bought a new stake in shares of Kirby in the 3rd quarter valued at approximately $42,000. Capital Performance Advisors LLP acquired a new position in shares of Kirby in the 3rd quarter worth approximately $52,000. Finally, R Squared Ltd bought a new position in shares of Kirby during the 4th quarter worth approximately $76,000. Institutional investors and hedge funds own 96.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KEX. StockNews.com cut Kirby from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Stifel Nicolaus lowered their target price on shares of Kirby from $136.00 to $135.00 and set a “buy” rating on the stock in a 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’s stock. According to data from MarketBeat, Kirby currently has a consensus rating of “Moderate Buy” and an average price target of $129.25.

Insider Activity at Kirby

In other Kirby news, VP Scott P. Miller sold 1,244 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $107.61, for a total value of $133,866.84. Following the transaction, the vice president now directly owns 5,545 shares in the company, valued at approximately $596,697.45. This trade represents a 18.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Kirby Price Performance

Kirby stock opened at $102.68 on Friday. The business’s fifty day moving average is $107.70 and its two-hundred day moving average is $116.53. 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 market cap of $5.87 billion, a P/E ratio of 20.91, a P/E/G ratio of 0.90 and a beta of 1.19. Kirby Co. has a 52 week low of $85.40 and a 52 week high of $132.21.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Thursday, January 30th. The shipping company reported $1.29 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%. Equities research analysts forecast that Kirby Co. will post 6.57 earnings per share for the current fiscal 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.