Strs Ohio Takes $1.85 Million Position in Kirby Corporation $KEX

Key Points

• Strs Ohio has acquired 18,282 shares of Kirby Corporation, valued at approximately $1.85 million, marking a significant investment in the shipping company during the 1st quarter.
• Kirby reported $1.67 EPS for the quarter, surpassing the consensus estimate of $1.59, with revenue increasing by 3.8% year-over-year.
• The stock currently holds a consensus rating of "Moderate Buy" with an average target price of $121.00 according to analysts.

Strs Ohio purchased a new stake in Kirby Corporation (NYSE:KEX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 18,282 shares of the shipping company's stock, valued at approximately $1,847,000.

Other large investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new position in Kirby in the 1st quarter worth approximately $28,000. KBC Group NV acquired a new position in shares of Kirby during the 1st quarter worth approximately $32,000. UMB Bank n.a. grew its holdings in Kirby by 147.2% in the 1st quarter. UMB Bank n.a. now owns 351 shares of the shipping company's stock valued at $35,000 after buying an additional 209 shares in the last quarter. Brooklyn Investment Group lifted its stake in Kirby by 40.7% during the 1st quarter. Brooklyn Investment Group now owns 394 shares of the shipping company's stock worth $40,000 after acquiring an additional 114 shares in the last quarter. Finally, Versant Capital Management Inc acquired a new stake in shares of Kirby during the 1st quarter worth about $44,000. Hedge funds and other institutional investors own 96.15% of the company's stock.

Analyst Ratings Changes

KEX has been the subject of a number of recent research reports. Bank of America dropped their price objective on Kirby from $110.00 to $107.00 and set a "buy" rating for the company in a research report on Wednesday, September 3rd. BTIG Research reaffirmed a "buy" rating and issued a $125.00 target price on shares of Kirby in a report on Thursday. Finally, Zacks Research raised Kirby from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 3rd. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Kirby has an average rating of "Moderate Buy" and a consensus target price of $122.33.

Kirby Stock Down 0.1%

Shares of NYSE KEX traded down $0.06 during trading hours on Friday, hitting $83.98. The stock had a trading volume of 1,640,254 shares, compared to its average volume of 1,038,388. Kirby Corporation has a 52 week low of $82.55 and a 52 week high of $132.21. The company has a market capitalization of $4.69 billion, a P/E ratio of 15.88, a P/E/G ratio of 0.86 and a beta of 1.09. The firm's 50-day moving average price is $100.02 and its two-hundred day moving average price is $103.12. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.12 and a current ratio of 1.74.

Kirby (NYSE:KEX - Get Free Report) last issued its earnings results on Thursday, July 31st. The shipping company reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.08. The firm had revenue of $855.46 million for the quarter, compared to analysts' expectations of $851.94 million. Kirby had a return on equity of 10.02% and a net margin of 9.25%.The company's revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.43 earnings per share. Analysts anticipate that Kirby Corporation will post 6.57 EPS for the current fiscal year.

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.