29,285 Shares in Kirby Corporation $KEX Purchased by First Dallas Securities Inc.

Key Points

• First Dallas Securities Inc. acquired 29,285 shares of Kirby Corporation (NYSE:KEX) valued at approximately $2,958,000, making Kirby 1.2% of its investment portfolio.
• Kirby reported $1.67 earnings per share for its latest quarter, exceeding analyst expectations and marking a 3.8% year-over-year revenue increase.
• Analysts have rated Kirby as a "Moderate Buy", with an average price target of $121.00.

First Dallas Securities Inc. acquired a new position in shares of 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 institutional investor acquired 29,285 shares of the shipping company's stock, valued at approximately $2,958,000. Kirby accounts for 1.2% of First Dallas Securities Inc.'s portfolio, making the stock its 22nd biggest position. First Dallas Securities Inc. owned approximately 0.05% of Kirby at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of KEX. Colonial Trust Co SC raised its stake in Kirby by 295.3% during the fourth quarter. Colonial Trust Co SC now owns 253 shares of the shipping company's stock worth $27,000 after acquiring an additional 189 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Kirby in the first quarter valued at approximately $28,000. KBC Group NV acquired a new stake in shares of Kirby in the first quarter valued at approximately $32,000. UMB Bank n.a. increased its stake in shares of Kirby by 147.2% in the first quarter. UMB Bank n.a. now owns 351 shares of the shipping company's stock valued at $35,000 after purchasing an additional 209 shares during the period. Finally, Brooklyn Investment Group increased its stake in shares of Kirby by 40.7% in the first quarter. Brooklyn Investment Group now owns 394 shares of the shipping company's stock valued at $40,000 after purchasing an additional 114 shares during the period. Institutional investors and hedge funds own 96.15% of the company's stock.

Kirby Trading Down 1.2%

Kirby stock opened at $89.09 on Monday. The firm has a 50 day simple moving average of $106.13 and a 200-day simple moving average of $104.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.74 and a quick ratio of 1.12. The stock has a market capitalization of $4.97 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 0.91 and a beta of 1.09. Kirby Corporation has a 12-month low of $83.94 and a 12-month high of $132.21.

Kirby (NYSE:KEX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The shipping company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.08. The business had revenue of $855.46 million during the quarter, compared to analysts' expectations of $851.94 million. Kirby had a net margin of 9.25% and a return on equity of 10.02%. The business's revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $1.43 earnings per share. As a group, equities research analysts expect that Kirby Corporation will post 6.57 EPS for the current fiscal year.

Analyst Ratings Changes

KEX has been the topic of several analyst reports. Zacks Research upgraded shares of Kirby from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 3rd. Bank of America dropped their price target on shares of Kirby from $110.00 to $107.00 and set a "buy" rating on the stock in a research note on Wednesday, September 3rd. Two research 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 presently has an average rating of "Moderate Buy" and an average price target of $121.00.

About Kirby

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.

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