Royce & Associates LP Purchases 800 Shares of Kirby Corporation (KEX)
Royce & Associates LP boosted its position in Kirby Corporation (NYSE:KEX) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,296,550 shares of the shipping company’s stock after buying an additional 800 shares during the period. Kirby Corporation comprises approximately 0.6% of Royce & Associates LP’s holdings, making the stock its 26th largest position. Royce & Associates LP owned 2.40% of Kirby Corporation worth $86,674,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in KEX. Credit Agricole S A purchased a new position in shares of Kirby Corporation during the first quarter worth approximately $423,000. Bank of New York Mellon Corp increased its position in shares of Kirby Corporation by 33.6% in the first quarter. Bank of New York Mellon Corp now owns 1,275,763 shares of the shipping company’s stock worth $90,006,000 after buying an additional 320,566 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Kirby Corporation by 5.3% in the first quarter. Vanguard Group Inc. now owns 4,159,390 shares of the shipping company’s stock worth $293,445,000 after buying an additional 208,693 shares in the last quarter. Morgan Stanley increased its position in shares of Kirby Corporation by 22.9% in the first quarter. Morgan Stanley now owns 126,244 shares of the shipping company’s stock worth $8,906,000 after buying an additional 23,498 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in shares of Kirby Corporation by 17.4% in the first quarter. Neuberger Berman Group LLC now owns 1,016,730 shares of the shipping company’s stock worth $71,730,000 after buying an additional 150,880 shares in the last quarter.
Kirby Corporation (NYSE KEX) traded up 0.41% during trading on Friday, hitting $61.95. 87,886 shares of the stock traded hands. The company has a market cap of $3.35 billion, a P/E ratio of 28.39 and a beta of 1.01. The company’s 50 day moving average price is $62.85 and its 200 day moving average price is $67.15. Kirby Corporation has a 12 month low of $50.80 and a 12 month high of $74.50.
Kirby Corporation (NYSE:KEX) last announced its quarterly earnings data on Wednesday, July 26th. The shipping company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.01. Kirby Corporation had a return on equity of 4.85% and a net margin of 6.41%. The firm had revenue of $473.33 million for the quarter, compared to analysts’ expectations of $478.85 million. During the same quarter in the prior year, the firm posted $0.72 earnings per share. Kirby Corporation’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities research analysts anticipate that Kirby Corporation will post $1.95 EPS for the current fiscal year.
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A number of equities analysts have commented on KEX shares. Zacks Investment Research upgraded shares of Kirby Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 17th. Cowen and Company boosted their target price on shares of Kirby Corporation from $65.00 to $70.00 and gave the stock a “market perform” rating in a report on Thursday, April 27th. BidaskClub downgraded shares of Kirby Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Stifel Nicolaus reiterated a “hold” rating and issued a $69.00 target price on shares of Kirby Corporation in a report on Friday, July 28th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $85.00 target price on shares of Kirby Corporation in a report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $71.25.
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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