Principal Financial Group Inc. raised its stake in Kirby Corp. (NYSE:KEX) by 12.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 202,177 shares of the company’s stock after buying an additional 22,438 shares during the period. Principal Financial Group Inc. owned approximately 0.38% of Kirby Corp. worth $12,614,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Cambiar Investors LLC increased its stake in shares of Kirby Corp. by 94.2% in the second quarter. Cambiar Investors LLC now owns 386,850 shares of the company’s stock valued at $24,136,000 after buying an additional 187,616 shares in the last quarter. State Street Corp increased its stake in shares of 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. Baillie Gifford & Co. increased its stake in shares of Kirby Corp. by 2.1% in the second quarter. Baillie Gifford & Co. now owns 3,220,647 shares of the company’s stock valued at $200,935,000 after buying an additional 66,587 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 valued at $3,444,000 after buying an additional 24,000 shares in the last quarter. Finally, Monarch Partners Asset Management LLC acquired a new stake in shares of Kirby Corp. during the second quarter valued at $18,037,000. Institutional investors and hedge funds own 99.44% of the company’s stock.
Shares of Kirby Corp. (NYSE:KEX) opened at 61.01 on Tuesday. Kirby Corp. has a 12 month low of $44.63 and a 12 month high of $73.25. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 17.90 and a beta of 1.12. The company’s 50 day moving average price is $57.11 and its 200 day moving average price is $61.40.
Kirby Corp. (NYSE:KEX) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.02. The firm had revenue of $441.60 million for the quarter, compared to the consensus estimate of $454.12 million. Kirby Corp. had a return on equity of 8.02% and a net margin of 9.63%. The company’s quarterly revenue was down 18.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.04 earnings per share. On average, equities analysts expect that Kirby Corp. will post $2.61 EPS for the current fiscal year.
KEX has been the subject of a number of recent research reports. Jefferies Group reaffirmed a “buy” rating on shares of Kirby Corp. in a report on Monday, August 29th. Vetr raised Kirby Corp. from a “buy” rating to a “strong-buy” rating and set a $70.00 target price for the company in a report on Monday, July 4th. Wells Fargo & Co. reaffirmed a “sell” rating on shares of Kirby Corp. in a report on Tuesday, September 20th. Zacks Investment Research raised Kirby Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 29th. Finally, Credit Suisse Group AG cut Kirby Corp. from an “outperform” rating to a “neutral” rating and set a $60.00 target price for the company. in a report on Tuesday, June 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $62.85.
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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