Municipal Employees Retirement System of Michigan cut its holdings in shares of Kirby Corporation (NYSE:KEX) by 22.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,250 shares of the shipping company’s stock after selling 4,600 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Kirby Corporation were worth $1,072,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nomura Holdings Inc. acquired a new position in shares of Kirby Corporation during the second quarter worth approximately $344,000. Morgan Stanley raised its holdings in Kirby Corporation by 22.9% during the first quarter. Morgan Stanley now owns 126,244 shares of the shipping company’s stock worth $8,906,000 after purchasing an additional 23,498 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in Kirby Corporation 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 purchasing an additional 6,643 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in Kirby Corporation during the second quarter worth approximately $1,083,000. Finally, Northern Trust Corp raised its holdings in Kirby Corporation 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 purchasing an additional 22,956 shares in the last quarter. Institutional investors and hedge funds own 94.31% of the company’s stock.

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Several brokerages recently commented on KEX. Jefferies Group LLC reissued a “buy” rating and set a $85.00 target price on shares of Kirby Corporation in a report on Monday, October 16th. Zacks Investment Research cut Kirby Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 1st. Stifel Nicolaus reissued a “hold” rating and set a $67.00 target price on shares of Kirby Corporation in a report on Friday, November 3rd. Cowen and Company reissued a “hold” rating and set a $70.00 target price on shares of Kirby Corporation in a report on Friday, July 28th. Finally, BidaskClub cut Kirby Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Kirby Corporation presently has a consensus rating of “Hold” and an average target price of $74.17.

Kirby Corporation (NYSE:KEX) opened at $64.00 on Thursday. The stock has a market capitalization of $3,826.58, a price-to-earnings ratio of 30.38, a price-to-earnings-growth ratio of 3.99 and a beta of 1.07. Kirby Corporation has a twelve month low of $59.25 and a twelve month high of $74.50. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.93 and a quick ratio of 1.23.

Kirby Corporation (NYSE:KEX) last posted its quarterly earnings results on Wednesday, November 1st. The shipping company reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.08. The company had revenue of $541.30 million for the quarter, compared to analysts’ expectations 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 was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 earnings per share. equities research analysts forecast that Kirby Corporation will post 2.01 EPS for the current fiscal year.

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.

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

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