12th Street Asset Management Company LLC Has $41.03 Million Holdings in Kirby Corporation (NYSE:KEX)

Key Points

• 12th Street Asset Management Company increased its stake in Kirby Corporation by 27.5% during the first quarter, owning 406,149 shares, which is approximately 0.71% of Kirby's total stock value at $41 million.
• Bank of America raised its price target for Kirby shares from $116.00 to $125.00 and assigned a "buy" rating in a recent report.
• For the last quarter, Kirby reported an earnings per share (EPS) of $1.33, exceeding the consensus estimate of $1.27, but experienced a revenue decline of 2.8% year-over-year.

12th Street Asset Management Company LLC increased its position in Kirby Corporation (NYSE:KEX - Free Report) by 27.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 406,149 shares of the shipping company's stock after purchasing an additional 87,646 shares during the quarter. Kirby makes up 6.9% of 12th Street Asset Management Company LLC's portfolio, making the stock its 2nd largest holding. 12th Street Asset Management Company LLC owned approximately 0.71% of Kirby worth $41,025,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of KEX. Huntington National Bank lifted its position in shares of Kirby by 6.8% during the 4th quarter. Huntington National Bank now owns 1,781 shares of the shipping company's stock worth $188,000 after buying an additional 113 shares during the period. Brown Advisory Inc. boosted its stake in shares of Kirby by 0.3% in the 1st quarter. Brown Advisory Inc. now owns 36,597 shares of the shipping company's stock valued at $3,697,000 after purchasing an additional 117 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Kirby by 1.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,035 shares of the shipping company's stock valued at $1,379,000 after purchasing an additional 124 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Kirby by 0.5% in the 4th quarter. Stifel Financial Corp now owns 29,047 shares of the shipping company's stock worth $3,073,000 after purchasing an additional 138 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Kirby by 28.7% during the 1st quarter. Blue Trust Inc. now owns 668 shares of the shipping company's stock worth $67,000 after purchasing an additional 149 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company's stock.

Kirby Stock Up 0.2%

Shares of NYSE KEX traded up $0.19 during mid-day trading on Friday, reaching $95.50. 1,660,498 shares of the company's stock were exchanged, compared to its average volume of 612,124. Kirby Corporation has a twelve month low of $83.94 and a twelve month high of $132.21. The company has a current ratio of 1.58, a quick ratio of 0.96 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.07 and a beta of 0.96. The business has a fifty day simple moving average of $113.86 and a 200 day simple moving average of $106.32.

Kirby (NYSE:KEX - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The shipping company reported $1.67 EPS for the quarter, topping analysts' consensus estimates of $1.59 by $0.08. The business had revenue of $855.46 million for the quarter, compared to analyst estimates of $851.94 million. Kirby had a net margin of 9.02% and a return on equity of 9.81%. The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the business posted $1.43 earnings per share. As a group, equities analysts expect that Kirby Corporation will post 6.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Bank of America lifted their price objective on Kirby from $116.00 to $125.00 and gave the company a "buy" rating in a research report on Friday, May 16th.

Kirby Company 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.