Hourglass Capital LLC Grows Stock Holdings in Kirby Corporation (NYSE:KEX)

Hourglass Capital LLC grew its stake in shares of Kirby Corporation (NYSE:KEX - Free Report) by 5.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,160 shares of the shipping company's stock after purchasing an additional 2,335 shares during the period. Hourglass Capital LLC owned approximately 0.08% of Kirby worth $4,764,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in KEX. Huntington National Bank raised its holdings in shares of Kirby by 6.8% in the 4th quarter. Huntington National Bank now owns 1,781 shares of the shipping company's stock worth $188,000 after acquiring an additional 113 shares during the last quarter. Brown Advisory Inc. grew its position in Kirby by 0.3% in the 1st quarter. Brown Advisory Inc. now owns 36,597 shares of the shipping company's stock worth $3,697,000 after purchasing an additional 117 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in Kirby by 1.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,035 shares of the shipping company's stock worth $1,379,000 after purchasing an additional 124 shares in the last quarter. Stifel Financial Corp grew its position in Kirby by 0.5% in the 4th quarter. Stifel Financial Corp now owns 29,047 shares of the shipping company's stock worth $3,073,000 after purchasing an additional 138 shares in the last quarter. Finally, Corient Private Wealth LLC grew its position in Kirby by 0.5% in the 4th quarter. Corient Private Wealth LLC now owns 30,914 shares of the shipping company's stock worth $3,271,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company's stock.

Wall Street Analysts Forecast Growth

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

Kirby Stock Performance

Shares of KEX stock traded down $0.59 during trading on Wednesday, reaching $116.49. 361,918 shares of the company's stock traded hands, compared to its average volume of 546,402. The company has a market capitalization of $6.54 billion, a P/E ratio of 23.07, a PEG ratio of 1.05 and a beta of 0.96. 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 firm's 50-day moving average is $110.92 and its 200 day moving average is $105.22. Kirby Corporation has a 1 year low of $83.94 and a 1 year high of $132.21.

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, topping the consensus estimate of $1.27 by $0.06. The business had revenue of $785.66 million for the quarter, compared to analysts' expectations of $824.12 million. Kirby had a net margin of 9.02% and a return on equity of 9.81%. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.19 EPS. Equities research analysts expect that Kirby Corporation will post 6.57 EPS for the current year.

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.