Ameriprise Financial Inc. lowered its stake in Kirby Corp. (NYSE:KEX) by 14.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 201,144 shares of the company’s stock after selling 34,040 shares during the period. Ameriprise Financial Inc. owned about 0.37% of Kirby Corp. worth $12,550,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of the company. State Street Corp increased its stake in Kirby Corp. by 0.6% in the first quarter. State Street Corp now owns 1,517,214 shares of the company’s stock valued at $91,468,000 after buying an additional 8,771 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of Kirby Corp. by 72.4% in the first quarter. Prudential Financial Inc. now owns 57,130 shares of the company’s stock worth $3,444,000 after buying an additional 24,000 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Kirby Corp. by 19.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 24,851 shares of the company’s stock worth $1,308,000 after buying an additional 4,019 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Kirby Corp. during the first quarter worth $401,000. Finally, Teachers Advisors Inc. increased its stake in shares of Kirby Corp. by 30.1% in the first quarter. Teachers Advisors Inc. now owns 58,501 shares of the company’s stock worth $3,527,000 after buying an additional 13,550 shares during the period. Institutional investors own 99.43% of the company’s stock.
Kirby Corp. (NYSE:KEX) traded down 0.363% during mid-day trading on Wednesday, hitting $59.095. The stock had a trading volume of 286,904 shares. The stock has a 50 day moving average of $55.36 and a 200-day moving average of $61.37. The firm has a market cap of $3.18 billion, a P/E ratio of 17.335 and a beta of 1.11. Kirby Corp. has a 1-year low of $44.63 and a 1-year high of $73.25.
Kirby Corp. (NYSE:KEX) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. The firm earned $441.60 million during the quarter, compared to analysts’ expectations of $454.12 million. Kirby Corp. had a return on equity of 8.02% and a net margin of 9.63%. The company’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.04 EPS. Analysts predict that Kirby Corp. will post $2.61 EPS for the current fiscal year.
A number of equities research analysts have recently weighed in on KEX shares. Jefferies Group reiterated a “buy” rating on shares of Kirby Corp. in a report on Monday, August 29th. Vetr upgraded Kirby Corp. from a “buy” rating to a “strong-buy” rating and set a $70.00 price target for the company in a report on Monday, July 4th. Wells Fargo & Co. reiterated a “sell” rating on shares of Kirby Corp. in a report on Tuesday, September 20th. Zacks Investment Research upgraded Kirby Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 29th. Finally, Credit Suisse Group AG downgraded Kirby Corp. from an “outperform” rating to a “neutral” rating and set a $60.00 price target for the company. in a report on Tuesday, June 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $62.93.
Kirby Corp. Company Profile
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services. The Company, through its Marine Transportation segment, is a provider of marine transportation services, operating tank barges and towing vessels transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all the three United States coasts and in Alaska and Hawaii.
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