American Assets Investment Management LLC Has $4.23 Million Stock Holdings in Kirby Corporation (NYSE:KEX)

Key Points

• American Assets Investment Management LLC increased its holdings in Kirby Corporation by 295.5%, owning approximately $4.2 million worth of shares by the end of the first quarter.
• Bank of America raised its target price for Kirby shares from $116.00 to $125.00 and assigned a "buy" rating in a recent report.
• Kirby Corporation's quarterly earnings beat expectations with $1.67 earnings per share, surpassing the consensus estimate of $1.59.

American Assets Investment Management LLC grew its holdings in shares of Kirby Corporation (NYSE:KEX - Free Report) by 295.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,845 shares of the shipping company's stock after acquiring an additional 31,265 shares during the period. American Assets Investment Management LLC owned about 0.07% of Kirby worth $4,227,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of KEX. Colonial Trust Co SC raised its holdings in shares of Kirby by 295.3% during the fourth 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 last quarter. Opal Wealth Advisors LLC bought a new stake in Kirby during the first quarter worth approximately $28,000. KBC Group NV bought a new stake in Kirby during the first quarter worth approximately $32,000. UMB Bank n.a. raised its holdings in Kirby by 147.2% during the first quarter. UMB Bank n.a. now owns 351 shares of the shipping company's stock worth $35,000 after purchasing an additional 209 shares in the last quarter. Finally, Versant Capital Management Inc bought a new stake in Kirby during the first quarter worth approximately $44,000. Institutional investors and hedge funds own 96.15% of the company's stock.

Wall Street Analyst Weigh In

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

Kirby Price Performance

Shares of KEX traded down $0.42 during mid-day trading on Thursday, hitting $100.40. 683,797 shares of the company traded hands, compared to its average volume of 792,527. Kirby Corporation has a one year low of $83.94 and a one 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 of $112.85 and a 200 day moving average of $105.96. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 0.91 and a beta of 1.01.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.59 by $0.08. The firm had revenue of $855.46 million for the quarter, compared to analysts' expectations of $851.94 million. Kirby had a net margin of 9.25% and a return on equity of 10.07%. The business's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $1.43 earnings per share. As a group, equities analysts expect that Kirby Corporation will post 6.57 earnings per share for the current fiscal 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.