Thurston Springer Miller Herd & Titak Inc. Increases Stock Position in Kirby Corporation $KEX

Thurston Springer Miller Herd & Titak Inc. boosted its stake in Kirby Corporation (NYSE:KEX) by 244.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231 shares of the shipping company’s stock after purchasing an additional 164 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Kirby were worth $26,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of Kirby by 0.4% during the first quarter. Principal Financial Group Inc. now owns 132,089 shares of the shipping company’s stock worth $13,342,000 after acquiring an additional 470 shares in the last quarter. Blue Trust Inc. boosted its holdings in Kirby by 28.7% in the first quarter. Blue Trust Inc. now owns 668 shares of the shipping company’s stock valued at $67,000 after acquiring an additional 149 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Kirby by 5.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 77,641 shares of the shipping company’s stock worth $7,842,000 after buying an additional 3,924 shares during the period. GAMMA Investing LLC grew its position in shares of Kirby by 53.4% in the 1st quarter. GAMMA Investing LLC now owns 672 shares of the shipping company’s stock worth $68,000 after buying an additional 234 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in shares of Kirby by 30.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 11,075 shares of the shipping company’s stock worth $1,119,000 after buying an additional 2,616 shares during the period. 96.15% of the stock is owned by hedge funds and other institutional investors.

Kirby Price Performance

NYSE KEX opened at $84.03 on Friday. Kirby Corporation has a 52 week low of $82.55 and a 52 week high of $132.21. The firm has a market capitalization of $4.69 billion, a P/E ratio of 15.89, a PEG ratio of 0.84 and a beta of 1.09. The company has a quick ratio of 1.12, a current ratio of 1.74 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average price of $100.68 and a 200-day moving average price of $103.22.

Kirby (NYSE:KEX) last released its quarterly earnings results on Thursday, July 31st. The shipping company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.59 by $0.08. The firm had revenue of $855.46 million during the quarter, compared to analyst estimates of $851.94 million. Kirby had a net margin of 9.25% and a return on equity of 10.02%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.43 EPS. Equities research analysts anticipate that Kirby Corporation will post 6.57 earnings per share for the current year.

Wall Street Analyst Weigh In

KEX has been the topic of a number of analyst reports. BTIG Research reiterated a “buy” rating and issued a $125.00 price target on shares of Kirby in a research note on Thursday. Bank of America decreased their target price on Kirby from $110.00 to $107.00 and set a “buy” rating for the company in a research report on Wednesday, September 3rd. Finally, Zacks Research raised Kirby from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 3rd. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $122.33.

Kirby Company Profile

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.