Crossmark Global Holdings Inc. Takes Position in Kirby Corporation (KEX)
Crossmark Global Holdings Inc. bought a new position in shares of Kirby Corporation (NYSE:KEX) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,549 shares of the shipping company’s stock, valued at approximately $432,000.
A number of other large investors also recently made changes to their positions in KEX. Huntington National Bank raised its position in shares of Kirby Corporation by 11.3% in the 2nd quarter. Huntington National Bank now owns 2,453 shares of the shipping company’s stock worth $164,000 after acquiring an additional 249 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of Kirby Corporation in the 2nd quarter worth about $204,000. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Kirby Corporation in the 2nd quarter worth about $233,000. World Asset Management Inc raised its position in shares of Kirby Corporation by 12.7% in the 2nd quarter. World Asset Management Inc now owns 3,718 shares of the shipping company’s stock worth $249,000 after acquiring an additional 418 shares in the last quarter. Finally, Riverhead Capital Management LLC raised its position in shares of Kirby Corporation by 70.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,929 shares of the shipping company’s stock worth $263,000 after acquiring an additional 1,629 shares in the last quarter. 94.31% of the stock is owned by institutional investors and hedge funds.
Shares of Kirby Corporation (NYSE:KEX) opened at $64.10 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.93 and a quick ratio of 1.23. The company has a market capitalization of $3,769.86, a PE ratio of 29.93, a PEG ratio of 3.93 and a beta of 1.07. Kirby Corporation has a 12 month low of $59.25 and a 12 month high of $74.50.
Kirby Corporation (NYSE:KEX) last issued its earnings results on Wednesday, November 1st. The shipping company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.08. The company had revenue of $541.30 million during the quarter, compared to the consensus estimate of $517.54 million. Kirby Corporation had a return on equity of 4.48% and a net margin of 5.88%. The firm’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period last year, the business posted $0.59 EPS. analysts anticipate that Kirby Corporation will post 2.01 earnings per share for the current year.
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Several research analysts have recently weighed in on KEX shares. BidaskClub lowered Kirby Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Stifel Nicolaus reissued a “hold” rating and issued a $69.00 price objective on shares of Kirby Corporation in a research report on Friday, July 28th. Zacks Investment Research raised Kirby Corporation from a “hold” rating to a “strong-buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, July 26th. Cowen and Company reissued a “hold” rating and issued a $70.00 price objective on shares of Kirby Corporation in a research report on Friday, July 28th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $85.00 price objective on shares of Kirby Corporation in a research report on Monday, October 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $74.17.
About Kirby Corporation
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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