Russell Investments Group Ltd. cut its stake in shares of Kirby Corporation (NYSE:KEX) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 158,855 shares of the shipping company’s stock after selling 7,166 shares during the period. Russell Investments Group Ltd.’s holdings in Kirby Corporation were worth $10,618,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Elkfork Partners LLC increased its stake in Kirby Corporation by 0.4% in the first quarter. Elkfork Partners LLC now owns 44,472 shares of the shipping company’s stock valued at $3,137,000 after buying an additional 170 shares during the period. AMG National Trust Bank increased its stake in Kirby Corporation by 12.1% in the first quarter. AMG National Trust Bank now owns 10,062 shares of the shipping company’s stock valued at $710,000 after buying an additional 1,087 shares during the period. Flinton Capital Management LLC increased its stake in Kirby Corporation by 0.4% in the first quarter. Flinton Capital Management LLC now owns 20,928 shares of the shipping company’s stock valued at $1,476,000 after buying an additional 80 shares during the period. Advisors Asset Management Inc. increased its stake in Kirby Corporation by 22.6% in the first quarter. Advisors Asset Management Inc. now owns 5,932 shares of the shipping company’s stock valued at $419,000 after buying an additional 1,092 shares during the period. Finally, State Treasurer State of Michigan increased its stake in Kirby Corporation by 0.9% in the first quarter. State Treasurer State of Michigan now owns 21,900 shares of the shipping company’s stock valued at $1,545,000 after buying an additional 200 shares during the period.

Kirby Corporation (NYSE KEX) traded down 0.32% during midday trading on Tuesday, hitting $62.45. 104,446 shares of the stock traded hands. The stock’s 50-day moving average price is $63.91 and its 200-day moving average price is $67.42. The stock has a market capitalization of $3.37 billion, a P/E ratio of 28.62 and a beta of 1.01. Kirby Corporation has a 52 week low of $50.80 and a 52 week high of $74.50.

Kirby Corporation (NYSE:KEX) last issued its quarterly earnings results on Wednesday, July 26th. The shipping company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. Kirby Corporation had a net margin of 6.41% and a return on equity of 4.85%. The company had revenue of $473.33 million during the quarter, compared to analysts’ expectations of $478.85 million. During the same period last year, the company posted $0.72 EPS. Kirby Corporation’s revenue was up 7.2% on a year-over-year basis. Equities research analysts expect that Kirby Corporation will post $1.97 EPS for the current fiscal year.

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Several research firms have weighed in on KEX. Cowen and Company lifted their price target on shares of Kirby Corporation from $65.00 to $70.00 and gave the company a “market perform” rating in a research note on Thursday, April 27th. Zacks Investment Research raised shares of Kirby Corporation from a “sell” rating to a “hold” rating in a research note on Friday, April 28th. BidaskClub raised shares of Kirby Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Credit Suisse Group raised shares of Kirby Corporation from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $58.00 to $80.00 in a research note on Wednesday, April 19th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $85.00 price target on shares of Kirby Corporation in a research note on Tuesday, May 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Kirby Corporation has an average rating of “Hold” and an average target price of $69.22.

Kirby Corporation 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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Institutional Ownership by Quarter for Kirby Corporation (NYSE:KEX)

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