Schwab Charles Investment Management Inc. grew its stake in shares of Kirby Co. (NYSE:KEX) by 4.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 259,255 shares of the shipping company’s stock after purchasing an additional 11,550 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.43% of Kirby worth $17,098,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in KEX. Verition Fund Management LLC bought a new stake in shares of Kirby during the 2nd quarter valued at about $204,000. Koch Industries Inc. bought a new stake in shares of Kirby during the 2nd quarter valued at about $216,000. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Kirby during the 2nd quarter valued at about $233,000. Riverhead Capital Management LLC boosted its stake in shares of Kirby by 70.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,929 shares of the shipping company’s stock valued at $263,000 after purchasing an additional 1,629 shares in the last quarter. Finally, Shelton Capital Management bought a new stake in shares of Kirby during the 2nd quarter valued at about $273,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.
KEX has been the topic of a number of research reports. Jefferies Group reaffirmed a “buy” rating and set a $85.00 target price on shares of Kirby in a research note on Monday, October 16th. Stifel Nicolaus reaffirmed a “hold” rating and set a $67.00 target price on shares of Kirby in a research note on Friday, November 3rd. Zacks Investment Research lowered shares of Kirby from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. Finally, Stephens reaffirmed a “hold” rating and set a $70.00 target price on shares of Kirby in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $74.50.
Kirby Co. (NYSE KEX) traded up $0.75 during trading hours on Friday, reaching $74.80. 379,038 shares of the company traded hands, compared to its average volume of 407,235. Kirby Co. has a 1-year low of $59.25 and a 1-year high of $75.10. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.93 and a quick ratio of 1.23. The company has a market capitalization of $4,420.56, a price-to-earnings ratio of 35.45, a P/E/G ratio of 3.86 and a beta of 1.04.
Kirby (NYSE:KEX) last posted its quarterly earnings data on Wednesday, November 1st. The shipping company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.44 by $0.08. Kirby had a net margin of 5.88% and a return on equity of 4.48%. 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 previous year, the firm posted $0.59 earnings per share. Kirby’s quarterly revenue was up 24.5% on a year-over-year basis. analysts anticipate that Kirby Co. will post 2.04 earnings per share for the current year.
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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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