Rothschild Asset Management Inc. lifted its position in Kirby Co. (NYSE:KEX) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,263 shares of the shipping company’s stock after purchasing an additional 2,934 shares during the period. Rothschild Asset Management Inc. owned about 0.30% of Kirby worth $15,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp acquired a new position in Kirby during the first quarter worth $32,150,000. Wells Fargo & Company MN raised its position in Kirby by 124.6% during the second quarter. Wells Fargo & Company MN now owns 528,341 shares of the shipping company’s stock worth $44,169,000 after acquiring an additional 293,152 shares during the period. Arosa Capital Management LP raised its position in Kirby by 2,231.6% during the first quarter. Arosa Capital Management LP now owns 303,108 shares of the shipping company’s stock worth $23,324,000 after acquiring an additional 290,108 shares during the period. Bank of Montreal Can acquired a new position in Kirby during the second quarter worth $21,646,000. Finally, King Luther Capital Management Corp raised its position in Kirby by 12.6% during the first quarter. King Luther Capital Management Corp now owns 1,941,548 shares of the shipping company’s stock worth $149,402,000 after acquiring an additional 217,366 shares during the period. Hedge funds and other institutional investors own 92.84% of the company’s stock.
Kirby stock opened at $84.35 on Friday. Kirby Co. has a 52-week low of $59.38 and a 52-week high of $94.05. The firm has a market cap of $5.10 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 2.25 and a beta of 0.93. The company has a quick ratio of 1.17, a current ratio of 1.86 and a debt-to-equity ratio of 0.45.
Kirby (NYSE:KEX) last released its earnings results on Wednesday, July 25th. The shipping company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.07. Kirby had a net margin of 11.49% and a return on equity of 4.77%. The business had revenue of $802.70 million during the quarter, compared to analyst estimates of $765.43 million. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The company’s revenue for the quarter was up 69.6% compared to the same quarter last year. equities research analysts anticipate that Kirby Co. will post 2.84 EPS for the current fiscal year.
In other news, insider Christian G. O’neil sold 1,500 shares of the company’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $86.75, for a total transaction of $130,125.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ronald A. Dragg sold 500 shares of the company’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $85.00, for a total transaction of $42,500.00. Following the sale, the vice president now directly owns 10,968 shares of the company’s stock, valued at approximately $932,280. The disclosure for this sale can be found here. Insiders have sold 24,865 shares of company stock valued at $2,260,359 in the last ninety days. Insiders own 2.40% of the company’s stock.
KEX has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price objective on shares of Kirby from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, April 27th. Wells Fargo & Co upped their price objective on shares of Kirby from $89.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 1st. Zacks Investment Research upgraded shares of Kirby from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Wednesday, May 2nd. ValuEngine cut shares of Kirby from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Finally, Gabelli upgraded shares of Kirby from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Monday, July 30th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $90.50.
Kirby Corporation operates domestic tank barges in the United States. It operates in two segments, Marine Transportation and Distribution and Services. The Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.
Further Reading: Book Value Per Share – BVPS
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