Tower Research Capital LLC TRC lessened its position in shares of Kirby Co. (NYSE:KEX) by 29.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,523 shares of the shipping company’s stock after selling 1,855 shares during the period. Tower Research Capital LLC TRC’s holdings in Kirby were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Cullen Frost Bankers Inc. lifted its stake in Kirby by 5.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 3,957 shares of the shipping company’s stock valued at $312,000 after purchasing an additional 207 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Kirby by 1.7% during the first quarter. Oregon Public Employees Retirement Fund now owns 21,489 shares of the shipping company’s stock valued at $1,614,000 after acquiring an additional 359 shares during the last quarter. Huntington National Bank raised its stake in shares of Kirby by 10.1% during the second quarter. Huntington National Bank now owns 1,663 shares of the shipping company’s stock valued at $131,000 after acquiring an additional 152 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Kirby by 41.5% during the second quarter. SG Americas Securities LLC now owns 64,941 shares of the shipping company’s stock worth $5,130,000 after buying an additional 19,031 shares during the period. Finally, Carroll Financial Associates Inc. increased its position in shares of Kirby by 27.2% during the second quarter. Carroll Financial Associates Inc. now owns 626 shares of the shipping company’s stock worth $49,000 after buying an additional 134 shares during the period. 94.67% of the stock is owned by institutional investors.
NYSE:KEX traded up $1.02 during trading hours on Friday, reaching $81.07. The company had a trading volume of 172,057 shares, compared to its average volume of 371,325. The company has a quick ratio of 1.19, a current ratio of 2.00 and a debt-to-equity ratio of 0.52. The firm has a market cap of $4.96 billion, a price-to-earnings ratio of 28.34, a P/E/G ratio of 2.62 and a beta of 1.03. The business’s 50-day simple moving average is $75.46 and its two-hundred day simple moving average is $77.61. Kirby Co. has a twelve month low of $60.63 and a twelve month high of $86.44.
Kirby (NYSE:KEX) last posted its quarterly earnings results on Thursday, July 25th. The shipping company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.02). The company had revenue of $771.00 million during the quarter, compared to analyst estimates of $767.04 million. Kirby had a return on equity of 5.47% and a net margin of 3.70%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 earnings per share. As a group, equities analysts predict that Kirby Co. will post 2.97 earnings per share for the current year.
In related news, insider Joseph H. Reniers sold 9,075 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $82.17, for a total transaction of $745,692.75. Following the transaction, the insider now directly owns 30,576 shares of the company’s stock, valued at $2,512,429.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amy D. Husted sold 6,174 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $78.25, for a total transaction of $483,115.50. Following the transaction, the vice president now directly owns 20,545 shares in the company, valued at $1,607,646.25. The disclosure for this sale can be found here. Insiders sold 26,508 shares of company stock worth $2,115,023 over the last ninety days. Insiders own 1.80% of the company’s stock.
Several research firms have recently weighed in on KEX. TheStreet upgraded shares of Kirby from a “c+” rating to a “b-” rating in a research report on Wednesday, September 11th. Stephens upgraded shares of Kirby from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $93.00 to $96.00 in a research report on Monday, July 29th. Finally, ValuEngine upgraded shares of Kirby from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $81.13.
Kirby Corporation operates domestic tank barges in the United States. Its 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.
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