Dimensional Fund Advisors LP Has $239.10 Million Stock Position in Kirby Corporation $KEX

Key Points

• Dimensional Fund Advisors LP holds a 4.16% stake in Kirby Corporation, amounting to approximately $239.1 million, after reducing its position by 0.3% in the first quarter.
• Kirby Corporation reported earnings of $1.67 per share for the recent quarter, exceeding analysts' expectations of $1.59, with year-over-year revenue growth of 3.8%.
• Analysts have a Buy rating on Kirby stock, with Bank of America increasing its price target from $116.00 to $125.00, and an average target of $130.00.

Dimensional Fund Advisors LP reduced its position in shares of Kirby Corporation (NYSE:KEX - Free Report) by 0.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,367,115 shares of the shipping company's stock after selling 8,204 shares during the period. Dimensional Fund Advisors LP owned approximately 4.16% of Kirby worth $239,097,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Nuveen LLC bought a new position in shares of Kirby during the 1st quarter valued at about $31,741,000. Benjamin Edwards Inc. lifted its stake in Kirby by 19.0% during the first quarter. Benjamin Edwards Inc. now owns 8,776 shares of the shipping company's stock valued at $886,000 after purchasing an additional 1,402 shares during the last quarter. National Bank of Canada FI acquired a new stake in Kirby during the first quarter valued at approximately $1,131,000. Deutsche Bank AG grew its position in Kirby by 45.8% in the first quarter. Deutsche Bank AG now owns 68,377 shares of the shipping company's stock worth $6,907,000 after buying an additional 21,480 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board grew its position in Kirby by 19.0% in the first quarter. Ontario Teachers Pension Plan Board now owns 18,116 shares of the shipping company's stock worth $1,830,000 after buying an additional 2,894 shares during the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.

Kirby Stock Down 1.0%

NYSE KEX traded down $0.9480 during trading on Wednesday, reaching $97.5520. The company's stock had a trading volume of 395,949 shares, compared to its average volume of 887,215. The company has a current ratio of 1.74, a quick ratio of 1.12 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $5.44 billion, a PE ratio of 18.44, a PEG ratio of 0.99 and a beta of 1.01. Kirby Corporation has a 1-year low of $83.94 and a 1-year high of $132.21. The business has a 50-day moving average price of $110.33 and a 200-day moving average price of $105.28.

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

Wall Street Analysts Forecast Growth

Separately, Bank of America raised their price objective on Kirby from $116.00 to $125.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Kirby currently has an average rating of "Buy" and an average price target of $130.00.

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.