CIBC Asset Management Inc raised its stake in Kirby Corporation (NYSE:KEX) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,903 shares of the shipping company’s stock after buying an additional 80 shares during the period. CIBC Asset Management Inc’s holdings in Kirby Corporation were worth $328,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. World Asset Management Inc increased its stake in Kirby Corporation by 0.9% in the first quarter. World Asset Management Inc now owns 3,300 shares of the shipping company’s stock valued at $233,000 after buying an additional 28 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Kirby Corporation by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 4,701 shares of the shipping company’s stock valued at $330,000 after buying an additional 67 shares in the last quarter. 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 in the last quarter. Meadow Creek Investment Management LLC increased its stake in Kirby Corporation by 0.4% in the first quarter. Meadow Creek Investment Management LLC now owns 28,776 shares of the shipping company’s stock valued at $2,030,000 after buying an additional 110 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in Kirby Corporation by 0.4% in the second quarter. Great West Life Assurance Co. Can now owns 27,882 shares of the shipping company’s stock valued at $1,862,000 after buying an additional 117 shares in the last quarter.

Kirby Corporation (KEX) opened at 62.10 on Friday. The stock’s 50 day moving average is $63.66 and its 200 day moving average is $67.32. The company has a market capitalization of $3.35 billion, a P/E ratio of 28.46 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 released its earnings results on Wednesday, July 26th. The shipping company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The firm had revenue of $473.33 million during the quarter, compared to analyst estimates of $478.85 million. Kirby Corporation had a net margin of 6.41% and a return on equity of 4.85%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business earned $0.72 EPS. On average, equities research analysts expect that Kirby Corporation will post $1.95 earnings per share for the current year.

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Several research firms have weighed in on KEX. BidaskClub raised shares of Kirby Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Stifel Nicolaus lowered their price target on shares of Kirby Corporation from $71.00 to $69.00 and set a “hold” rating for the company in a research note on Thursday, June 15th. Zacks Investment Research downgraded shares of Kirby Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Jefferies Group LLC reissued a “buy” rating and issued a $85.00 price target on shares of Kirby Corporation in a research note on Tuesday, May 30th. Finally, Cowen and Company reissued a “hold” rating and issued a $70.00 price target on shares of Kirby Corporation in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Kirby Corporation presently 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.

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

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