Sequent Asset Management LLC increased its position in shares of Kirby Corporation (NYSE:KEX) by 1.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 15,000 shares of the shipping company’s stock after buying an additional 275 shares during the period. Sequent Asset Management LLC’s holdings in Kirby Corporation were worth $1,003,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Teachers Advisors LLC raised its position in Kirby Corporation by 1,434.7% in the fourth quarter. Teachers Advisors LLC now owns 796,749 shares of the shipping company’s stock valued at $52,984,000 after buying an additional 744,834 shares during the last quarter. Fruth Investment Management raised its position in Kirby Corporation by 1.7% in the first quarter. Fruth Investment Management now owns 19,004 shares of the shipping company’s stock valued at $1,340,000 after buying an additional 316 shares during the last quarter. Capstone Asset Management Co. raised its position in Kirby Corporation by 2.6% in the first quarter. Capstone Asset Management Co. now owns 5,899 shares of the shipping company’s stock valued at $416,000 after buying an additional 150 shares during the last quarter. Lathrop Investment Management Corp acquired a new position in Kirby Corporation during the first quarter valued at approximately $10,078,000. Finally, Louisiana State Employees Retirement System raised its position in Kirby Corporation by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 13,600 shares of the shipping company’s stock valued at $959,000 after buying an additional 300 shares during the last quarter.
Kirby Corporation (KEX) traded up 0.286% during midday trading on Friday, hitting $61.375. 326,236 shares of the company traded hands. The stock has a 50 day moving average of $64.05 and a 200 day moving average of $67.46. The stock has a market cap of $3.31 billion, a P/E ratio of 28.128 and a beta of 1.01. Kirby Corporation has a 12-month low of $50.80 and a 12-month high of $74.50.
Kirby Corporation (NYSE:KEX) last released its earnings results on Wednesday, July 26th. The shipping company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. The company had revenue of $473.33 million during the quarter, compared to the consensus estimate of $478.85 million. Kirby Corporation had a return on equity of 4.85% and a net margin of 6.41%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.72 earnings per share. Equities research analysts predict that Kirby Corporation will post $1.97 EPS for the current fiscal year.
A number of research analysts recently issued reports on the stock. Credit Suisse Group upgraded shares of Kirby Corporation from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $58.00 to $80.00 in a research note on Wednesday, April 19th. Zacks Investment Research downgraded shares of Kirby Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 1st. BidaskClub downgraded shares of Kirby Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Stifel Nicolaus cut their target price on shares of Kirby Corporation from $71.00 to $69.00 and set a “hold” rating on the stock in a report on Thursday, June 15th. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $70.00 target price on shares of Kirby Corporation in a report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $69.22.
Kirby Corporation Company Profile
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.
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