BlackRock Inc. lowered its position in shares of Kirby Co. (NYSE:KEX) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,061,436 shares of the shipping company’s stock after selling 67,086 shares during the period. BlackRock Inc. owned approximately 0.08% of Kirby worth $399,854,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Kirby by 0.5% during the second quarter. Vanguard Group Inc. now owns 5,153,777 shares of the shipping company’s stock valued at $407,148,000 after acquiring an additional 25,966 shares in the last quarter. Impala Asset Management LLC bought a new stake in shares of Kirby during the second quarter valued at approximately $63,505,000. Invesco Ltd. increased its position in shares of Kirby by 20.3% during the second quarter. Invesco Ltd. now owns 753,206 shares of the shipping company’s stock valued at $59,504,000 after acquiring an additional 127,083 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Kirby during the second quarter valued at approximately $58,163,000. Finally, Bank of New York Mellon Corp increased its position in shares of Kirby by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 564,687 shares of the shipping company’s stock valued at $44,610,000 after acquiring an additional 5,032 shares in the last quarter. 94.77% of the stock is owned by institutional investors.
Several brokerages recently issued reports on KEX. Stephens upgraded shares of Kirby from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $93.00 to $96.00 in a report on Monday, July 29th. ValuEngine cut shares of Kirby from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, TheStreet upgraded shares of Kirby from a “c+” rating to a “b-” rating in a report on Wednesday, September 11th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Kirby presently has a consensus rating of “Hold” and an average target price of $81.13.
Shares of KEX stock opened at $82.25 on Thursday. Kirby Co. has a 12-month low of $60.63 and a 12-month high of $86.44. The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $81.28 and its 200 day moving average is $79.03. The stock has a market capitalization of $4.98 billion, a P/E ratio of 28.76, a P/E/G ratio of 2.83 and a beta of 1.06.
Kirby (NYSE:KEX) last issued its earnings results on Friday, October 25th. The shipping company reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.09. Kirby had a net margin of 3.96% and a return on equity of 5.60%. The company had revenue of $666.80 million for the quarter, compared to analysts’ expectations of $724.17 million. During the same quarter last year, the company posted $0.70 earnings per share. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, equities analysts predict that Kirby Co. will post 2.93 earnings per share for the current year.
Kirby Company Profile
Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.
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