Lathrop Investment Management Corp Purchases 26,615 Shares of Kirby Co. (KEX)

Lathrop Investment Management Corp boosted its position in Kirby Co. (NYSE:KEX) by 16.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 184,755 shares of the shipping company’s stock after buying an additional 26,615 shares during the period. Kirby makes up approximately 3.4% of Lathrop Investment Management Corp’s investment portfolio, making the stock its 16th largest holding. Lathrop Investment Management Corp’s holdings in Kirby were worth $12,342,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Citigroup Inc. boosted its position in Kirby by 0.6% in the second quarter. Citigroup Inc. now owns 7,699 shares of the shipping company’s stock valued at $515,000 after buying an additional 48 shares during the last quarter. Utah Retirement Systems boosted its position in Kirby by 1.0% in the second quarter. Utah Retirement Systems now owns 9,739 shares of the shipping company’s stock valued at $651,000 after buying an additional 100 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in Kirby by 1.8% in the second quarter. Ameritas Investment Partners Inc. now owns 16,161 shares of the shipping company’s stock valued at $1,080,000 after buying an additional 285 shares during the last quarter. Prudential Financial Inc. boosted its position in Kirby by 1.2% in the second quarter. Prudential Financial Inc. now owns 33,710 shares of the shipping company’s stock valued at $2,254,000 after buying an additional 410 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Kirby by 4.1% in the 2nd quarter. Royal Bank of Canada now owns 17,636 shares of the shipping company’s stock worth $1,179,000 after purchasing an additional 689 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

KEX has been the topic of several recent research reports. Zacks Investment Research lowered Kirby from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Stifel Nicolaus restated a “hold” rating and issued a $67.00 price objective on shares of Kirby in a research report on Friday, November 3rd. Jefferies Group initiated coverage on Kirby in a research report on Monday, December 18th. They issued a “buy” rating and a $85.00 price objective on the stock. Finally, Stephens restated a “hold” rating and issued a $70.00 price objective on shares of Kirby in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $74.50.

Shares of Kirby Co. (NYSE:KEX) opened at $74.05 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.93 and a quick ratio of 1.23. Kirby Co. has a 52-week low of $59.25 and a 52-week high of $74.50. The company has a market capitalization of $4,420.00, a P/E ratio of 35.26, a price-to-earnings-growth ratio of 3.56 and a beta of 1.04.

Kirby (NYSE:KEX) last released its quarterly earnings data on Wednesday, November 1st. The shipping company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.08. Kirby had a return on equity of 4.48% and a net margin of 5.88%. The business had revenue of $541.30 million for the quarter, compared to analyst estimates of $517.54 million. During the same quarter in the prior year, the firm posted $0.59 EPS. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. sell-side analysts forecast that Kirby Co. will post 2.03 earnings per share for the current year.

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About Kirby

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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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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