Mitsubishi UFJ Trust & Banking Corp lessened its holdings in shares of Kirby Co. (NYSE:KEX) by 7.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,300 shares of the shipping company’s stock after selling 11,960 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.26% of Kirby worth $10,176,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in KEX. Verition Fund Management LLC bought a new stake in shares of Kirby in the 2nd quarter valued at approximately $204,000. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Kirby in the 2nd quarter valued at approximately $233,000. World Asset Management Inc grew its stake in shares of Kirby by 12.7% in the 2nd quarter. World Asset Management Inc now owns 3,718 shares of the shipping company’s stock valued at $249,000 after buying an additional 418 shares in the last quarter. Riverhead Capital Management LLC grew its stake in shares of Kirby by 70.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,929 shares of the shipping company’s stock valued at $263,000 after buying an additional 1,629 shares in the last quarter. Finally, Shelton Capital Management bought a new stake in shares of Kirby in the 2nd quarter valued at approximately $273,000. 96.59% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on the company. Jefferies Group reissued a “buy” rating and issued a $85.00 price target on shares of Kirby in a research note on Monday, October 16th. BidaskClub raised Kirby from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $67.00 price target on shares of Kirby in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Kirby currently has a consensus rating of “Hold” and an average target price of $75.40.
Shares of Kirby Co. (NYSE KEX) traded up $0.30 during trading on Monday, reaching $64.25. The company’s stock had a trading volume of 845,400 shares, compared to its average volume of 424,384. The company has a market capitalization of $3,835.53, a PE ratio of 30.45, a P/E/G ratio of 4.00 and a beta of 1.04. The company has a quick ratio of 1.23, a current ratio of 1.93 and a debt-to-equity ratio of 0.36. Kirby Co. has a 52-week low of $59.25 and a 52-week high of $74.50.
Kirby (NYSE:KEX) last announced its earnings results on Wednesday, November 1st. The shipping company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. The firm had revenue of $541.30 million during the quarter, compared to analysts’ expectations of $517.54 million. Kirby had a return on equity of 4.48% and a net margin of 5.88%. The company’s revenue was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 earnings per share. analysts expect that Kirby Co. will post 2.01 EPS for the current year.
Kirby Company Profile
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.
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