Rice Hall James & Associates LLC raised its position in shares of Kirby Corp. (NYSE:KEX) by 26.0% during the second quarter, Holdings Channel reports. The institutional investor owned 34,908 shares of the company’s stock after buying an additional 7,207 shares during the period. Rice Hall James & Associates LLC’s holdings in Kirby Corp. were worth $2,178,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KEX. Atlanta Capital Management Co. L L C boosted its position in Kirby Corp. by 49.7% in the first quarter. Atlanta Capital Management Co. L L C now owns 3,286,493 shares of the company’s stock worth $198,143,000 after buying an additional 1,091,721 shares in the last quarter. Royce & Associates LP boosted its position in Kirby Corp. by 755.0% in the first quarter. Royce & Associates LP now owns 1,052,500 shares of the company’s stock worth $63,455,000 after buying an additional 929,400 shares in the last quarter. RS Investment Management Co. LLC acquired a new position in Kirby Corp. during the second quarter worth about $52,392,000. Fiduciary Management Inc. WI boosted its position in Kirby Corp. by 35.5% in the first quarter. Fiduciary Management Inc. WI now owns 1,350,087 shares of the company’s stock worth $81,397,000 after buying an additional 353,755 shares in the last quarter. Finally, Monarch Partners Asset Management LLC acquired a new position in Kirby Corp. during the second quarter worth about $18,037,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.
Kirby Corp. (NYSE:KEX) traded down 1.68% during trading on Friday, hitting $60.77. The company’s stock had a trading volume of 525,592 shares. The firm has a market cap of $3.27 billion, a P/E ratio of 17.83 and a beta of 1.12. Kirby Corp. has a 12 month low of $44.63 and a 12 month high of $73.25. The firm has a 50 day moving average of $56.95 and a 200 day moving average of $61.39.
Kirby Corp. (NYSE:KEX) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.02. The firm earned $441.60 million during 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 revenue for the quarter was down 18.7% on a year-over-year basis. During the same quarter last year, the company posted $1.04 EPS. Equities research analysts predict that Kirby Corp. will post $2.61 earnings per share for the current year.
KEX has been the topic of several research reports. Wells Fargo & Co. restated a “sell” rating on shares of Kirby Corp. in a report on Tuesday, September 20th. Jefferies Group restated a “buy” rating on shares of Kirby Corp. in a report on Monday, August 29th. Credit Suisse Group AG cut Kirby Corp. from an “outperform” rating to a “neutral” rating and set a $60.00 price target on the stock. in a report on Tuesday, June 21st. Zacks Investment Research upgraded Kirby Corp. from a “strong sell” rating to a “hold” rating and set a $66.00 price target on the stock in a report on Monday, September 26th. Finally, Royal Bank Of Canada upgraded Kirby Corp. from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $68.00 in a report on Tuesday, September 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price 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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