Cetera Investment Advisers Sells 1,370 Shares of Kirby Co. (NYSE:KEX)

Cetera Investment Advisers decreased its stake in Kirby Co. (NYSE:KEX) by 17.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,297 shares of the shipping company’s stock after selling 1,370 shares during the period. Cetera Investment Advisers’ holdings in Kirby were worth $666,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of KEX. Janney Montgomery Scott LLC boosted its position in Kirby by 1.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 8,459 shares of the shipping company’s stock valued at $895,000 after purchasing an additional 108 shares during the last quarter. Huntington National Bank raised its stake in shares of Kirby by 6.8% during the 4th quarter. Huntington National Bank now owns 1,781 shares of the shipping company’s stock worth $188,000 after purchasing an additional 113 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Kirby by 1.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,035 shares of the shipping company’s stock valued at $1,379,000 after buying an additional 124 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Kirby by 0.5% in the 4th quarter. Stifel Financial Corp now owns 29,047 shares of the shipping company’s stock valued at $3,073,000 after buying an additional 138 shares during the last quarter. Finally, Corient Private Wealth LLC grew its stake in shares of Kirby by 0.5% in the fourth quarter. Corient Private Wealth LLC now owns 30,914 shares of the shipping company’s stock valued at $3,271,000 after buying an additional 140 shares in the last quarter. Institutional investors own 96.15% of the company’s stock.

Kirby Stock Performance

Shares of NYSE KEX opened at $107.58 on Monday. The company has a current ratio of 1.45, a quick ratio of 1.05 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $6.04 billion, a P/E ratio of 21.91, a P/E/G ratio of 0.88 and a beta of 0.91. Kirby Co. has a 12 month low of $83.94 and a 12 month high of $132.21. The stock has a 50 day moving average of $100.08 and a 200-day moving average of $107.10.

Kirby (NYSE:KEX) last announced its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.06. Kirby had a return on equity of 9.71% and a net margin of 8.78%. The business had revenue of $785.66 million during the quarter, compared to the consensus estimate of $824.12 million. During the same quarter last year, the firm posted $1.19 EPS. The company’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, equities research analysts predict that Kirby Co. will post 6.57 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on KEX. Stifel Nicolaus dropped their price target 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. Bank of America boosted their price objective on shares of Kirby from $116.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, May 16th.

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.