Cerity Partners LLC Grows Position in Kirby Corporation (NYSE:KEX)

Cerity Partners LLC grew its holdings in Kirby Corporation (NYSE:KEX - Free Report) by 117.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,922 shares of the shipping company's stock after buying an additional 6,445 shares during the quarter. Cerity Partners LLC's holdings in Kirby were worth $1,204,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of KEX. Norges Bank acquired a new stake in shares of Kirby in the 4th quarter valued at approximately $74,293,000. Select Equity Group L.P. raised its holdings in Kirby by 59.0% during the fourth quarter. Select Equity Group L.P. now owns 1,565,693 shares of the shipping company's stock worth $165,650,000 after purchasing an additional 581,215 shares during the last quarter. First Trust Advisors LP raised its holdings in Kirby by 69.7% during the fourth quarter. First Trust Advisors LP now owns 876,292 shares of the shipping company's stock worth $92,712,000 after purchasing an additional 359,770 shares during the last quarter. Franklin Resources Inc. raised its holdings in Kirby by 848.5% during the fourth quarter. Franklin Resources Inc. now owns 393,647 shares of the shipping company's stock worth $41,648,000 after purchasing an additional 352,144 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in Kirby by 122.3% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 633,812 shares of the shipping company's stock worth $64,022,000 after purchasing an additional 348,665 shares during the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.

Kirby Price Performance

KEX stock traded up $2.37 during midday trading on Friday, hitting $118.36. 360,277 shares of the stock were exchanged, compared to its average volume of 481,108. The stock's 50-day moving average price is $113.45 and its 200-day moving average price is $106.07. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 1.06 and a beta of 0.96. Kirby Corporation has a fifty-two week low of $83.94 and a fifty-two week high of $132.21. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.96 and a current ratio of 1.58.

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

Analyst Upgrades and Downgrades

Separately, Bank of America lifted their price objective on Kirby from $116.00 to $125.00 and gave the stock a "buy" rating in a report 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.