Sequent Asset Management LLC Has $1 Million Position in Kirby Corporation (KEX)

Sequent Asset Management LLC boosted its position in Kirby Corporation (NYSE:KEX) by 1.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 filing with the SEC.

Several other hedge funds have also recently modified their holdings of KEX. Teachers Advisors LLC boosted 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 worth $52,984,000 after buying an additional 744,834 shares in the last quarter. Fruth Investment Management boosted 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 period. Capstone Asset Management Co. boosted 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 period. 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 boosted 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 period.

Kirby Corporation (KEX) opened at 60.15 on Friday. The company has a market cap of $3.25 billion, a PE ratio of 27.57 and a beta of 1.01. The company’s 50-day moving average price is $63.47 and its 200 day moving average price is $67.29. Kirby Corporation has a 52 week low of $50.80 and a 52 week high of $74.50.

Kirby Corporation (NYSE:KEX) last posted its quarterly earnings data on Wednesday, July 26th. The shipping company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.01. Kirby Corporation had a return on equity of 4.85% and a net margin of 6.41%. The firm had revenue of $473.33 million during the quarter, compared to analyst estimates of $478.85 million. During the same period last year, the company posted $0.72 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts anticipate that Kirby Corporation will post $1.95 EPS for the current year.

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Several research firms have recently commented on KEX. BidaskClub upgraded Kirby Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Stifel Nicolaus dropped their price target on Kirby Corporation from $71.00 to $69.00 and set a “hold” rating on the stock in a research report on Thursday, June 15th. Jefferies Group LLC reissued a “buy” rating and set a $85.00 price target on shares of Kirby Corporation in a research report on Tuesday, May 30th. Zacks Investment Research lowered Kirby Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Cowen and Company reissued a “hold” rating and set a $70.00 price target on shares of Kirby Corporation in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $71.25.

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.

Institutional Ownership by Quarter for Kirby Corporation (NYSE:KEX)

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