M&T Bank Corp Raises Holdings in Kirby Co. (NYSE:KEX)

M&T Bank Corp lifted its position in Kirby Co. (NYSE:KEXGet Rating) by 58.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,718 shares of the shipping company’s stock after acquiring an additional 6,893 shares during the period. M&T Bank Corp’s holdings in Kirby were worth $1,140,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in KEX. Neuberger Berman Group LLC increased its position in Kirby by 18,106.0% during the 1st quarter. Neuberger Berman Group LLC now owns 1,149,345 shares of the shipping company’s stock valued at $82,971,000 after buying an additional 1,143,032 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Kirby during the 1st quarter valued at approximately $32,533,000. Lord Abbett & CO. LLC bought a new position in Kirby during the 1st quarter valued at approximately $28,876,000. Jennison Associates LLC increased its holdings in shares of Kirby by 272.4% in the 2nd quarter. Jennison Associates LLC now owns 518,218 shares of the shipping company’s stock worth $31,528,000 after purchasing an additional 379,062 shares in the last quarter. Finally, King Luther Capital Management Corp increased its holdings in shares of Kirby by 20.4% in the 1st quarter. King Luther Capital Management Corp now owns 1,770,737 shares of the shipping company’s stock worth $127,830,000 after purchasing an additional 300,206 shares in the last quarter. Institutional investors own 95.26% of the company’s stock.

Kirby Price Performance

NYSE KEX opened at $65.92 on Thursday. The company has a market capitalization of $3.95 billion, a PE ratio of 41.46, a price-to-earnings-growth ratio of 2.76 and a beta of 1.27. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.94. The business’s fifty day moving average is $66.27 and its 200 day moving average is $64.81. Kirby Co. has a fifty-two week low of $50.58 and a fifty-two week high of $75.08.

Kirby (NYSE:KEXGet Rating) last announced its quarterly earnings data on Monday, October 24th. The shipping company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.59 by $0.06. Kirby had a return on equity of 3.53% and a net margin of 3.63%. The business had revenue of $745.80 million for the quarter, compared to the consensus estimate of $729.58 million. During the same period in the previous year, the business earned $0.17 earnings per share. The business’s revenue was up 24.5% on a year-over-year basis. Sell-side analysts predict that Kirby Co. will post 2.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Kirby in a report on Wednesday, October 12th. They issued a “hold” rating for the company.

Kirby Profile

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Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge 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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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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