Cambiar Investors LLC raised its stake in Kirby Corp. (NYSE:KEX) by 94.2% during the second quarter, Holdings Channel reports. The fund owned 386,850 shares of the company’s stock after buying an additional 187,616 shares during the period. Cambiar Investors LLC’s holdings in Kirby Corp. were worth $24,136,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Kempen Capital Management N.V. purchased a new position in Kirby Corp. during the first quarter worth about $145,000. Independent Portfolio Consultants Inc. boosted its position in Kirby Corp. by 8.9% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,500 shares of the company’s stock worth $156,000 after buying an additional 205 shares during the period. LS Investment Advisors LLC boosted its position in Kirby Corp. by 71.7% in the second quarter. LS Investment Advisors LLC now owns 3,322 shares of the company’s stock worth $207,000 after buying an additional 1,387 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in Kirby Corp. during the first quarter worth about $401,000. Finally, Logan Capital Management Inc. boosted its position in Kirby Corp. by 35.0% in the first quarter. Logan Capital Management Inc. now owns 8,101 shares of the company’s stock worth $488,000 after buying an additional 2,100 shares during the period. 99.43% of the stock is currently owned by institutional investors and hedge funds.
Shares of Kirby Corp. (NYSE:KEX) traded down 0.77% during midday trading on Monday, reaching $61.68. 513,306 shares of the company’s stock traded hands. Kirby Corp. has a 12 month low of $44.63 and a 12 month high of $73.25. The firm has a market cap of $3.32 billion, a PE ratio of 18.09 and a beta of 1.12. The stock has a 50-day moving average price of $56.16 and a 200 day moving average price of $61.40.
Kirby Corp. (NYSE:KEX) last posted its earnings results on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.70 by $0.02. The company earned $441.60 million during the quarter, compared to the consensus estimate of $454.12 million. Kirby Corp. had a net margin of 9.63% and a return on equity of 8.02%. The firm’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.04 earnings per share. Equities research analysts predict that Kirby Corp. will post $2.61 earnings per share for the current year.
Several brokerages have recently weighed in on KEX. Zacks Investment Research cut Kirby Corp. from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 7th. Vetr cut Kirby Corp. from a “hold” rating to a “sell” rating and set a $67.34 price objective for the company. in a report on Tuesday, June 7th. Credit Suisse Group AG cut Kirby Corp. from an “outperform” rating to a “neutral” rating and set a $60.00 price objective for the company. in a report on Tuesday, June 21st. Wells Fargo & Co. cut Kirby Corp. from a “market perform” rating to an “underperform” rating and set a $46.00 price objective for the company. in a report on Monday, July 25th. Finally, Stifel Nicolaus raised their price objective on Kirby Corp. from $50.00 to $54.00 and gave the company a “hold” rating in a report on Wednesday, September 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $62.85.
About Kirby Corp.
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.
Want to see what other hedge funds are holding KEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kirby Corp. (NYSE:KEX).
Receive News & Ratings for Kirby Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kirby Corp. and related companies with MarketBeat.com's FREE daily email newsletter.