Kirby Corporation $KEX is Hodges Capital Management Inc.'s 10th Largest Position

Key Points

• Hodges Capital Management Inc. increased its stake in Kirby Corporation by 285.7% in Q1, making it the firm's 10th largest holding at approximately $17.16 million.
• Kirby reported a quarterly earnings per share (EPS) of $1.67, beating estimates by $0.08 and achieving a 3.8% year-over-year revenue increase.
• Analysts have set a consensus rating of "Moderate Buy" for Kirby, with an average price target of $121.00, after adjustments to prior evaluations.

Hodges Capital Management Inc. grew its holdings in shares of Kirby Corporation (NYSE:KEX - Free Report) by 285.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 169,884 shares of the shipping company's stock after acquiring an additional 125,836 shares during the period. Kirby comprises about 1.7% of Hodges Capital Management Inc.'s investment portfolio, making the stock its 10th biggest holding. Hodges Capital Management Inc. owned approximately 0.30% of Kirby worth $17,160,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Modern Wealth Management LLC grew its stake in shares of Kirby by 18.8% during the first quarter. Modern Wealth Management LLC now owns 2,334 shares of the shipping company's stock valued at $236,000 after acquiring an additional 370 shares in the last quarter. Strs Ohio acquired a new stake in shares of Kirby during the first quarter valued at about $1,847,000. Bayforest Capital Ltd grew its stake in shares of Kirby by 248.9% during the first quarter. Bayforest Capital Ltd now owns 3,262 shares of the shipping company's stock valued at $329,000 after acquiring an additional 2,327 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Kirby by 152.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,565 shares of the shipping company's stock valued at $18,441,000 after acquiring an additional 110,320 shares in the last quarter. Finally, United Services Automobile Association acquired a new stake in shares of Kirby during the first quarter valued at about $371,000. 96.15% of the stock is currently owned by institutional investors and hedge funds.

Kirby Trading Up 1.1%

NYSE KEX opened at $87.97 on Friday. Kirby Corporation has a one year low of $83.94 and a one year high of $132.21. The company has a 50-day simple moving average of $103.90 and a 200-day simple moving average of $103.83. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.12 and a current ratio of 1.74. The firm has a market capitalization of $4.91 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 0.89 and a beta of 1.09.

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

Analysts Set New Price Targets

KEX has been the subject of several recent analyst reports. Bank of America decreased their price objective on shares of Kirby from $110.00 to $107.00 and set a "buy" rating for the company in a report on Wednesday, September 3rd. Zacks Research raised shares of Kirby from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 3rd. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $121.00.

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.

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