Asset Management One Co. Ltd. Buys 3,054 Shares of Kirby Corporation (NYSE:KEX)

Asset Management One Co. Ltd. boosted its stake in shares of Kirby Corporation (NYSE:KEX - Free Report) by 10.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,713 shares of the shipping company's stock after purchasing an additional 3,054 shares during the period. Asset Management One Co. Ltd. owned about 0.06% of Kirby worth $3,304,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Kirby during the 4th quarter valued at $74,293,000. Select Equity Group L.P. boosted its stake in shares of Kirby by 59.0% in the 4th quarter. Select Equity Group L.P. now owns 1,565,693 shares of the shipping company's stock worth $165,650,000 after buying an additional 581,215 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Kirby by 69.7% in the fourth quarter. First Trust Advisors LP now owns 876,292 shares of the shipping company's stock worth $92,712,000 after acquiring an additional 359,770 shares during the period. Franklin Resources Inc. increased its position in Kirby by 848.5% during the fourth quarter. Franklin Resources Inc. now owns 393,647 shares of the shipping company's stock valued at $41,648,000 after acquiring an additional 352,144 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in Kirby by 122.3% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 633,812 shares of the shipping company's stock valued at $64,022,000 after acquiring an additional 348,665 shares during the period. Institutional investors own 96.15% of the company's stock.

Kirby Stock Up 0.3%

KEX opened at $115.07 on Monday. The firm's 50 day simple moving average is $107.67 and its two-hundred day simple moving average is $104.79. The company has a market capitalization of $6.46 billion, a PE ratio of 22.79, a PEG ratio of 1.03 and a beta of 0.97. Kirby Corporation has a 1-year low of $83.94 and a 1-year 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.

Kirby (NYSE:KEX - Get Free Report) last announced its earnings results on Thursday, May 1st. The shipping company reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.06. Kirby had a return on equity of 9.81% and a net margin of 9.02%. The company had revenue of $785.66 million for the quarter, compared to analysts' expectations of $824.12 million. During the same period last year, the firm earned $1.19 EPS. Kirby's revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities analysts forecast that Kirby Corporation will post 6.57 EPS for the current year.

Analysts Set New Price Targets

Separately, Bank of America boosted their price target on Kirby from $116.00 to $125.00 and gave the company a "buy" rating in a research note 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.

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