King Luther Capital Management Corp Has $152.47 Million Stock Position in Kirby Corporation (NYSE:KEX)

Key Points

• King Luther Capital Management Corp decreased its holding in Kirby Corporation by 2.6%, selling 40,957 shares, and now owns 1,509,453 shares valued at approximately $152.47 million.
• Kirby reported earnings per share (EPS) of $1.67 for the last quarter, exceeding analysts' expectations by $0.08, with a revenue increase of 3.8% year-over-year.
• Bank of America raised its price target for Kirby shares from $116.00 to $125.00, maintaining a "buy" rating in a recent research note.

King Luther Capital Management Corp lessened its position in shares of Kirby Corporation (NYSE:KEX - Free Report) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,509,453 shares of the shipping company's stock after selling 40,957 shares during the period. King Luther Capital Management Corp owned approximately 2.65% of Kirby worth $152,470,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Select Equity Group L.P. lifted its holdings in shares of Kirby by 59.0% during 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 acquiring an additional 581,215 shares during the period. Jennison Associates LLC lifted its holdings in shares of Kirby by 9.0% during the 1st quarter. Jennison Associates LLC now owns 1,300,103 shares of the shipping company's stock worth $131,323,000 after acquiring an additional 107,240 shares during the period. First Trust Advisors LP lifted its holdings in shares of Kirby by 69.7% during the 4th 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. D. E. Shaw & Co. Inc. lifted its holdings in shares of Kirby by 14.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 815,008 shares of the shipping company's stock worth $86,228,000 after acquiring an additional 100,655 shares during the period. Finally, ArrowMark Colorado Holdings LLC lifted its holdings in shares of Kirby by 11.3% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 754,785 shares of the shipping company's stock worth $79,856,000 after acquiring an additional 76,436 shares during the period. Institutional investors own 96.15% of the company's stock.

Kirby Price Performance

NYSE:KEX traded down $1.75 on Thursday, hitting $97.76. The company had a trading volume of 210,671 shares, compared to its average volume of 623,451. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 0.99 and a beta of 1.01. The company has a current ratio of 1.74, a quick ratio of 0.96 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average of $111.81 and a two-hundred day moving average of $105.65. Kirby Corporation has a 52 week low of $83.94 and a 52 week high of $132.21.

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

Analyst Upgrades and Downgrades

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

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.