Federated Hermes Inc. Sells 5,982 Shares of Kirby Corporation (NYSE:KEX)

Federated Hermes Inc. cut its stake in shares of Kirby Corporation (NYSE:KEX - Free Report) by 8.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 63,136 shares of the shipping company's stock after selling 5,982 shares during the quarter. Federated Hermes Inc. owned approximately 0.11% of Kirby worth $6,377,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KEX. Mackenzie Financial Corp lifted its position in Kirby by 27.9% during the 1st quarter. Mackenzie Financial Corp now owns 11,683 shares of the shipping company's stock worth $1,180,000 after buying an additional 2,548 shares in the last quarter. TCW Group Inc. lifted its position in Kirby by 2.6% during the 1st quarter. TCW Group Inc. now owns 27,815 shares of the shipping company's stock worth $2,810,000 after buying an additional 705 shares in the last quarter. Bastion Asset Management Inc. acquired a new position in Kirby during the 1st quarter worth about $3,593,000. Cetera Investment Advisers lifted its position in Kirby by 15.1% during the 1st quarter. Cetera Investment Advisers now owns 7,246 shares of the shipping company's stock worth $732,000 after buying an additional 949 shares in the last quarter. Finally, Royce & Associates LP lifted its position in Kirby by 7.5% during the 1st quarter. Royce & Associates LP now owns 159,482 shares of the shipping company's stock worth $16,109,000 after buying an additional 11,183 shares in the last quarter. 96.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Kirby Stock Performance

Shares of NYSE:KEX opened at $95.50 on Monday. The stock has a market capitalization of $5.36 billion, a P/E ratio of 18.05, a P/E/G ratio of 0.86 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 company has a current ratio of 1.58, a quick ratio of 0.96 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average price of $113.62 and a two-hundred day moving average price of $106.20.

Kirby (NYSE:KEX - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The shipping company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.08. The firm had revenue of $855.46 million during the quarter, compared to analysts' expectations of $851.94 million. Kirby had a return on equity of 10.07% and a net margin of 9.25%. The company's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.43 EPS. Equities analysts predict that Kirby Corporation will post 6.57 earnings per share for the current year.

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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