King Luther Capital Management Corp Lowers Stake in Kirby Corporation $KEX

King Luther Capital Management Corp decreased its position in shares of Kirby Corporation (NYSE:KEX) by 4.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,447,268 shares of the shipping company’s stock after selling 62,185 shares during the period. King Luther Capital Management Corp’s holdings in Kirby were worth $164,135,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Kirby by 244.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 231 shares of the shipping company’s stock valued at $26,000 after purchasing an additional 164 shares during the period. Maseco LLP purchased a new stake in Kirby in the 2nd quarter valued at about $28,000. IFP Advisors Inc acquired a new position in shares of Kirby during the 2nd quarter valued at about $29,000. Brooklyn Investment Group boosted its position in shares of Kirby by 40.7% in the first quarter. Brooklyn Investment Group now owns 394 shares of the shipping company’s stock worth $40,000 after acquiring an additional 114 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in Kirby by 49.4% in the second quarter. Parallel Advisors LLC now owns 366 shares of the shipping company’s stock valued at $42,000 after purchasing an additional 121 shares during the period. 96.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Evercore ISI upped their price objective on Kirby from $109.00 to $122.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Bank of America cut their price objective on Kirby from $110.00 to $107.00 and set a “buy” rating on the stock in a report on Wednesday, September 3rd. Citigroup raised shares of Kirby from a “neutral” rating to a “buy” rating and increased their target price for the stock from $110.00 to $128.00 in a research report on Wednesday. Wall Street Zen raised shares of Kirby from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Kirby in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kirby has an average rating of “Moderate Buy” and an average target price of $123.40.

Kirby Price Performance

Shares of KEX stock opened at $107.71 on Friday. The firm has a fifty day simple moving average of $88.69 and a 200-day simple moving average of $101.23. The company has a market capitalization of $6.01 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 1.05 and a beta of 1.05. Kirby Corporation has a twelve month low of $79.51 and a twelve month high of $132.21. The company has a current ratio of 1.74, a quick ratio of 1.12 and a debt-to-equity ratio of 0.33.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Wednesday, October 29th. The shipping company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.05. The firm had revenue of $871.16 million for the quarter, compared to analyst estimates of $843.29 million. Kirby had a net margin of 9.22% and a return on equity of 10.06%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.55 EPS. Equities research analysts anticipate that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

Kirby Profile

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.