UMB Bank n.a. Grows Stake in Kirby Co. (NYSE:KEX)

UMB Bank n.a. lifted its holdings in shares of Kirby Co. (NYSE:KEX) by 147.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 351 shares of the shipping company’s stock after buying an additional 209 shares during the quarter. UMB Bank n.a.’s holdings in Kirby were worth $35,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Sivia Capital Partners LLC purchased a new stake in shares of Kirby during the 1st quarter valued at approximately $227,000. Merit Financial Group LLC purchased a new stake in Kirby in the 1st quarter worth approximately $390,000. NBC Securities Inc. purchased a new stake in Kirby in the 1st quarter worth approximately $1,018,000. Summit Global Investments purchased a new stake in Kirby in the 1st quarter worth approximately $1,011,000. Finally, GAMMA Investing LLC lifted its stake in Kirby by 15,397.5% in the 1st quarter. GAMMA Investing LLC now owns 67,879 shares of the shipping company’s stock worth $6,856,000 after purchasing an additional 67,441 shares in the last quarter. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Kirby Price Performance

Shares of NYSE:KEX opened at $110.63 on Monday. The company’s fifty day moving average price is $103.90 and its 200-day moving average price is $105.30. The firm has a market capitalization of $6.21 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 0.88 and a beta of 0.97. Kirby Co. has a one year low of $83.94 and a one year high of $132.21. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.05.

Kirby (NYSE:KEX) last issued its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.06. Kirby had a net margin of 8.78% and a return on equity of 9.71%. The firm had revenue of $785.66 million for the quarter, compared to analyst estimates of $824.12 million. During the same quarter in the prior year, the firm earned $1.19 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that Kirby Co. will post 6.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Bank of America increased their target price on shares of Kirby from $116.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, May 16th.

About Kirby

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.