M&T Bank Corp Acquires 2,034 Shares of Kirby Co. (NYSE:KEX)

M&T Bank Corp grew its holdings in Kirby Co. (NYSE:KEX) by 13.8% during the 4th quarter, HoldingsChannel reports. The firm owned 16,821 shares of the shipping company’s stock after purchasing an additional 2,034 shares during the quarter. M&T Bank Corp’s holdings in Kirby were worth $1,780,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in Kirby by 10.2% in the fourth quarter. Victory Capital Management Inc. now owns 525,708 shares of the shipping company’s stock valued at $55,620,000 after buying an additional 48,475 shares in the last quarter. Pacific Global Investment Management Co. lifted its holdings in shares of Kirby by 3.8% in the fourth quarter. Pacific Global Investment Management Co. now owns 22,400 shares of the shipping company’s stock worth $2,370,000 after acquiring an additional 810 shares during the last quarter. VELA Investment Management LLC boosted its stake in shares of Kirby by 6.8% in the 4th quarter. VELA Investment Management LLC now owns 125,199 shares of the shipping company’s stock valued at $13,246,000 after purchasing an additional 7,992 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Kirby by 2.6% during the 4th quarter. Bank of New York Mellon Corp now owns 415,042 shares of the shipping company’s stock valued at $43,911,000 after purchasing an additional 10,486 shares during the last quarter. Finally, Coyle Financial Counsel LLC increased its position in Kirby by 7.2% during the 4th quarter. Coyle Financial Counsel LLC now owns 15,960 shares of the shipping company’s stock worth $1,689,000 after purchasing an additional 1,067 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

Kirby Stock Down 1.0 %

Shares of NYSE KEX opened at $97.03 on Monday. Kirby Co. has a 1 year low of $86.02 and a 1 year high of $132.21. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.05. The firm has a market cap of $5.54 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 0.88 and a beta of 1.18. The company has a 50 day simple moving average of $106.05 and a 200 day simple moving average of $115.40.

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

Insiders Place Their Bets

In other Kirby news, VP Scott P. Miller sold 1,244 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 approximately $596,697.45. This represents a 18.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on KEX shares. Stifel Nicolaus cut their target price on shares of Kirby from $136.00 to $135.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. StockNews.com cut Kirby from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $129.25.

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.