Bank of New York Mellon Corp lowered its stake in shares of Kirby Corporation (NYSE:KEX) by 12.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,121,596 shares of the shipping company’s stock after selling 154,167 shares during the period. Bank of New York Mellon Corp owned 2.08% of Kirby Corporation worth $74,979,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Kirby Corporation by 12,366.8% in the first quarter. BlackRock Inc. now owns 5,003,672 shares of the shipping company’s stock valued at $353,010,000 after buying an additional 4,963,536 shares during the period. Vanguard Group Inc. boosted its stake in Kirby Corporation by 5.3% in the first quarter. Vanguard Group Inc. now owns 4,159,390 shares of the shipping company’s stock valued at $293,445,000 after buying an additional 208,693 shares during the period. Dimensional Fund Advisors LP boosted its stake in Kirby Corporation by 11.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,903,448 shares of the shipping company’s stock valued at $134,285,000 after buying an additional 195,368 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in Kirby Corporation by 46.3% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,777,366 shares of the shipping company’s stock valued at $118,817,000 after buying an additional 562,600 shares during the period. Finally, FIL Ltd boosted its stake in Kirby Corporation by 117.5% in the first quarter. FIL Ltd now owns 1,228,040 shares of the shipping company’s stock valued at $86,638,000 after buying an additional 663,539 shares during the period.

Kirby Corporation (KEX) opened at 61.20 on Tuesday. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 28.05 and a beta of 1.01. The company’s 50 day moving average is $62.74 and its 200 day moving average is $67.11. Kirby Corporation has a 12-month low of $50.80 and a 12-month high of $74.50.

Kirby Corporation (NYSE:KEX) last issued its quarterly earnings data on Wednesday, July 26th. The shipping company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. The firm had revenue of $473.33 million for 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%. Kirby Corporation’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 EPS. Analysts forecast that Kirby Corporation will post $1.95 earnings per share for the current fiscal year.

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Several analysts have recently weighed in on KEX shares. BidaskClub cut shares of Kirby Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research cut shares of Kirby Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Jefferies Group LLC restated a “buy” rating and set a $85.00 price objective on shares of Kirby Corporation in a research report on Tuesday, May 30th. Stifel Nicolaus restated a “hold” rating and set a $69.00 price objective on shares of Kirby Corporation in a research report on Friday, July 28th. Finally, Cowen and Company restated a “hold” rating and set a $70.00 price objective on shares of Kirby Corporation in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus 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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Institutional Ownership by Quarter for Kirby Corporation (NYSE:KEX)

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