Advisors Asset Management Inc. boosted its position in Kirby Corp. (NYSE:KEX) by 9.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,704 shares of the company’s stock after buying an additional 238 shares during the period. Advisors Asset Management Inc.’s holdings in Kirby Corp. were worth $169,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KEX. Kempen Capital Management N.V. purchased a new position in Kirby Corp. during the first quarter worth $145,000. Independent Portfolio Consultants Inc. boosted its stake 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 last quarter. LS Investment Advisors LLC boosted its stake 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 last quarter. Huntington National Bank boosted its stake in Kirby Corp. by 66.4% in the second quarter. Huntington National Bank now owns 3,317 shares of the company’s stock worth $207,000 after buying an additional 1,324 shares during the last quarter. Finally, Suntrust Banks Inc. acquired a new stake in Kirby Corp. during the second quarter worth $209,000. 99.43% of the stock is owned by hedge funds and other institutional investors.
Kirby Corp. (NYSE:KEX) traded up 0.52% during midday trading on Thursday, reaching $62.21. 137,400 shares of the company’s stock traded hands. Kirby Corp. has a 1-year low of $44.63 and a 1-year high of $73.25. The stock’s 50 day moving average price is $56.59 and its 200 day moving average price is $61.40. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 18.25 and a beta of 1.12.
Kirby Corp. (NYSE:KEX) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.02. The business earned $441.60 million during the quarter, compared to analyst estimates of $454.12 million. Kirby Corp. had a net margin of 9.63% and a return on equity of 8.02%. Kirby Corp.’s quarterly revenue was down 18.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.04 EPS. Equities research analysts anticipate that Kirby Corp. will post $2.61 EPS for the current year.
KEX has been the topic of a number of analyst reports. Jefferies Group reissued a “buy” rating on shares of Kirby Corp. in a research note on Monday, August 29th. Vetr raised shares of Kirby Corp. from a “buy” rating to a “strong-buy” rating and set a $70.00 target price on the stock in a research note on Monday, July 4th. Wells Fargo & Co. reissued a “sell” rating on shares of Kirby Corp. in a research note on Tuesday, September 20th. Zacks Investment Research raised shares of Kirby Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. Finally, Credit Suisse Group AG cut shares of Kirby Corp. from an “outperform” rating to a “neutral” rating and set a $60.00 price objective on the stock. in a research note on Tuesday, June 21st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus 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.
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