Dimensional Fund Advisors LP Purchases 246,064 Shares of Kirby Co. (KEX)
Dimensional Fund Advisors LP lifted its position in shares of Kirby Co. (NYSE:KEX) by 12.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,174,026 shares of the shipping company’s stock after purchasing an additional 246,064 shares during the period. Dimensional Fund Advisors LP owned 3.64% of Kirby worth $143,380,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nomura Holdings Inc. acquired a new stake in Kirby during the second quarter worth approximately $344,000. Neuberger Berman Group LLC grew its position in Kirby by 0.7% during the second quarter. Neuberger Berman Group LLC now owns 1,023,373 shares of the shipping company’s stock worth $68,412,000 after buying an additional 6,643 shares in the last quarter. Virginia Retirement Systems ET AL acquired a new stake in Kirby during the second quarter worth approximately $1,083,000. Northern Trust Corp grew its position in Kirby by 4.8% during the second quarter. Northern Trust Corp now owns 500,297 shares of the shipping company’s stock worth $33,444,000 after buying an additional 22,956 shares in the last quarter. Finally, Koch Industries Inc. acquired a new stake in Kirby during the second quarter worth approximately $216,000. Institutional investors own 96.59% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Jefferies Group reissued a “buy” rating and set a $85.00 price target on shares of Kirby in a research report on Monday, October 16th. Stifel Nicolaus reissued a “hold” rating and set a $67.00 price target on shares of Kirby in a research report on Friday, November 3rd. Finally, BidaskClub raised Kirby from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $75.40.
Kirby (NYSE:KEX) last issued its earnings results on Wednesday, November 1st. The shipping company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.08. The firm had revenue of $541.30 million for the quarter, compared to the consensus estimate of $517.54 million. Kirby had a return on equity of 4.48% and a net margin of 5.88%. The company’s revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. analysts expect that Kirby Co. will post 2.01 EPS for the current fiscal year.
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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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