Retirement Systems of Alabama raised its stake in shares of Kirby Corp. (NYSE:KEX) by 0.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 69,483 shares of the company’s stock after buying an additional 103 shares during the period. Retirement Systems of Alabama’s holdings in Kirby Corp. were worth $4,335,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of KEX. Atlanta Capital Management Co. L L C boosted its stake in Kirby Corp. by 49.7% in the first quarter. Atlanta Capital Management Co. L L C now owns 3,286,493 shares of the company’s stock valued at $198,143,000 after buying an additional 1,091,721 shares in the last quarter. State Street Corp boosted its stake in Kirby Corp. by 0.6% in the first quarter. State Street Corp now owns 1,517,214 shares of the company’s stock valued at $91,468,000 after buying an additional 8,771 shares in the last quarter. RS Investment Management Co. LLC acquired a new stake in Kirby Corp. during the second quarter valued at approximately $52,392,000. Primecap Management Co. CA boosted its stake in Kirby Corp. by 32.7% in the first quarter. Primecap Management Co. CA now owns 792,395 shares of the company’s stock valued at $47,773,000 after buying an additional 195,245 shares in the last quarter. Finally, Hermes Investment Management Ltd. boosted its stake in Kirby Corp. by 15.6% in the second quarter. Hermes Investment Management Ltd. now owns 785,706 shares of the company’s stock valued at $49,020,000 after buying an additional 105,989 shares in the last quarter. Hedge funds and other institutional investors own 99.44% of the company’s stock.
Shares of Kirby Corp. (NYSE:KEX) traded down 0.37% during mid-day trading on Friday, hitting $58.58. The stock had a trading volume of 501,869 shares. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 17.18 and a beta of 1.12. Kirby Corp. has a 12-month low of $44.63 and a 12-month high of $73.25. The stock’s 50-day moving average price is $57.70 and its 200-day moving average price is $61.36.
Kirby Corp. (NYSE:KEX) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. Kirby Corp. had a return on equity of 8.02% and a net margin of 9.63%. The firm had revenue of $441.60 million for the quarter, compared to the consensus estimate of $454.12 million. During the same quarter in the prior year, the business earned $1.04 EPS. The business’s revenue for the quarter was down 18.7% compared to the same quarter last year. On average, equities analysts anticipate that Kirby Corp. will post $2.61 EPS for the current fiscal year.
Several analysts recently commented on KEX shares. Zacks Investment Research upgraded Kirby Corp. from a “strong sell” rating to a “hold” rating and set a $66.00 target price on the stock in a research report on Monday, September 26th. Vetr cut Kirby Corp. from a “hold” rating to a “sell” rating and set a $53.00 price target on the stock. in a research report on Monday, August 8th. Wells Fargo & Co. reiterated a “sell” rating on shares of Kirby Corp. in a research report on Tuesday, September 20th. Credit Suisse Group AG cut Kirby Corp. from an “outperform” rating to a “neutral” rating and set a $60.00 price target on the stock. in a research report on Tuesday, June 21st. Finally, RBC Capital Markets upgraded Kirby Corp. from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $55.00 to $68.00 in a research report on Tuesday, September 20th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $62.85.
About Kirby Corp.
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services. The Company, through its Marine Transportation segment, is a provider of marine transportation services, operating tank barges and towing vessels transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all the three United States coasts and in Alaska and Hawaii.