Asset Management One Co. Ltd. Has $3.22 Million Stake in Kirby Corporation $KEX

Asset Management One Co. Ltd. reduced its position in Kirby Corporation (NYSE:KEX) by 13.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 28,422 shares of the shipping company’s stock after selling 4,291 shares during the period. Asset Management One Co. Ltd. owned 0.05% of Kirby worth $3,223,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of Kirby by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 132,089 shares of the shipping company’s stock valued at $13,342,000 after buying an additional 470 shares during the period. Envestnet Asset Management Inc. increased its stake 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 valued at $7,842,000 after buying an additional 3,924 shares during the period. GAMMA Investing LLC increased its stake in shares of Kirby by 53.4% in the 1st quarter. GAMMA Investing LLC now owns 672 shares of the shipping company’s stock valued at $68,000 after buying an additional 234 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Kirby by 206.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,837 shares of the shipping company’s stock valued at $792,000 after buying an additional 5,277 shares during the period. Finally, KBC Group NV acquired a new stake in shares of Kirby in the 1st quarter valued at $32,000. 96.15% of the stock is owned by institutional investors and hedge funds.

Kirby Stock Up 14.0%

NYSE:KEX opened at $101.07 on Thursday. Kirby Corporation has a 1 year low of $79.51 and a 1 year high of $132.21. The company has a current ratio of 1.74, a quick ratio of 1.12 and a debt-to-equity ratio of 0.33. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 0.92 and a beta of 1.00. The stock has a 50-day moving average price of $87.69 and a two-hundred day moving average price of $100.73.

Kirby (NYSE:KEX) last posted its earnings results on Wednesday, October 29th. The shipping company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.05. Kirby had a return on equity of 10.02% and a net margin of 9.25%.The firm had revenue of $871.16 million during the quarter, compared to analysts’ expectations of $843.29 million. During the same period in the previous year, the firm earned $1.55 earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. As a group, equities analysts expect that Kirby Corporation will post 6.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on KEX shares. Citigroup started coverage on Kirby in a research note on Monday, September 22nd. They set a “neutral” rating and a $91.00 price objective for the company. Zacks Research raised Kirby from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 3rd. Evercore ISI decreased their price objective on Kirby from $122.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, October 9th. BTIG Research reaffirmed a “buy” rating and set a $125.00 price objective on shares of Kirby in a research note on Thursday, September 18th. Finally, Bank of America decreased their price objective on Kirby from $110.00 to $107.00 and set a “buy” rating for the company in a research note on Wednesday, September 3rd. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Kirby currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.40.

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.