Homestead Advisers Corp Acquires New Position in Kirby Corporation (NYSE:KEX)

Homestead Advisers Corp acquired a new stake in Kirby Corporation (NYSE:KEX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 36,000 shares of the shipping company's stock, valued at approximately $3,636,000. Homestead Advisers Corp owned approximately 0.06% of Kirby as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Colonial Trust Co SC increased its stake in Kirby by 295.3% in the 4th quarter. Colonial Trust Co SC now owns 253 shares of the shipping company's stock valued at $27,000 after buying an additional 189 shares during the period. Opal Wealth Advisors LLC acquired a new position in Kirby in the 1st quarter valued at $28,000. KBC Group NV acquired a new position in Kirby in the 1st quarter valued at $32,000. UMB Bank n.a. grew its stake in shares of Kirby by 147.2% during the 1st quarter. UMB Bank n.a. now owns 351 shares of the shipping company's stock worth $35,000 after purchasing an additional 209 shares during the period. Finally, Versant Capital Management Inc acquired a new position in shares of Kirby during the 1st quarter worth $44,000. Institutional investors and hedge funds own 96.15% of the company's stock.

Analyst Ratings Changes

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

Kirby Stock Up 0.2%

NYSE:KEX traded up $0.29 during trading hours on Tuesday, hitting $116.12. The stock had a trading volume of 44,024 shares, compared to its average volume of 541,846. 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 company has a market cap of $6.51 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96. The business has a 50 day simple moving average of $112.86 and a two-hundred day simple moving average of $105.76.

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

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