State of Wisconsin Investment Board Decreases Position in Kirby Corporation (KEX)
State of Wisconsin Investment Board lowered its stake in shares of Kirby Corporation (NYSE:KEX) by 7.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 160,452 shares of the shipping company’s stock after selling 12,520 shares during the period. State of Wisconsin Investment Board owned approximately 0.30% of Kirby Corporation worth $10,726,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KEX. Huntington National Bank increased its position in Kirby Corporation by 11.3% in the second quarter. Huntington National Bank now owns 2,453 shares of the shipping company’s stock valued at $164,000 after buying an additional 249 shares during the period. World Asset Management Inc increased its position in Kirby Corporation by 0.9% in the first quarter. World Asset Management Inc now owns 3,300 shares of the shipping company’s stock valued at $233,000 after buying an additional 28 shares during the period. Virtu Financial LLC bought a new position in Kirby Corporation during the first quarter valued at approximately $301,000. LS Investment Advisors LLC increased its position in Kirby Corporation by 16.9% in the second quarter. LS Investment Advisors LLC now owns 4,291 shares of the shipping company’s stock valued at $287,000 after buying an additional 620 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Kirby Corporation by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 4,701 shares of the shipping company’s stock valued at $330,000 after buying an additional 67 shares during the period.
Kirby Corporation (NYSE:KEX) opened at 61.25 on Thursday. Kirby Corporation has a one year low of $50.80 and a one year high of $74.50. The company has a 50 day moving average of $63.01 and a 200-day moving average of $67.19. The company has a market cap of $3.31 billion, a P/E ratio of 28.07 and a beta of 1.01.
Kirby Corporation (NYSE:KEX) last issued its quarterly earnings results on Wednesday, July 26th. The shipping company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. The business had revenue of $473.33 million during the quarter, compared to the consensus estimate of $478.85 million. Kirby Corporation had a net margin of 6.41% and a return on equity of 4.85%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 earnings per share. On average, equities analysts expect that Kirby Corporation will post $1.95 earnings per share for the current fiscal year.
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Several research analysts have commented on the stock. BidaskClub downgraded shares of Kirby Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Kirby Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 1st. Cowen and Company reissued a “hold” rating and set a $70.00 price objective on shares of Kirby Corporation in a report on Friday, July 28th. Stifel Nicolaus reissued a “hold” rating and set a $69.00 price objective on shares of Kirby Corporation in a report on Friday, July 28th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $85.00 price objective 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 assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $71.25.
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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