Hourglass Capital LLC Raises Stake in Kirby Corporation (NYSE:KEX)

Hourglass Capital LLC raised its holdings in shares of Kirby Corporation (NYSE:KEX - Free Report) by 5.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,160 shares of the shipping company's stock after acquiring an additional 2,335 shares during the period. Hourglass Capital LLC owned about 0.08% of Kirby worth $4,764,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Kirby during the 4th quarter valued at $74,293,000. Select Equity Group L.P. lifted its stake in shares of Kirby by 59.0% in the 4th quarter. Select Equity Group L.P. now owns 1,565,693 shares of the shipping company's stock valued at $165,650,000 after acquiring an additional 581,215 shares during the last quarter. First Trust Advisors LP boosted its holdings in Kirby by 69.7% during the 4th quarter. First Trust Advisors LP now owns 876,292 shares of the shipping company's stock valued at $92,712,000 after acquiring an additional 359,770 shares during the period. Franklin Resources Inc. increased its stake in Kirby by 848.5% in the 4th 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 period. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of 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 valued at $64,022,000 after purchasing an additional 348,665 shares during the period. 96.15% of the stock is owned by hedge funds and other institutional investors.

Kirby Trading Down 0.1%

Shares of KEX stock traded down $0.09 during trading hours on Friday, reaching $116.96. The company's stock had a trading volume of 400,072 shares, compared to its average volume of 547,797. The company has a current ratio of 1.58, a quick ratio of 0.96 and a debt-to-equity ratio of 0.33. Kirby Corporation has a one year low of $83.94 and a one year high of $132.21. The stock has a market capitalization of $6.56 billion, a P/E ratio of 23.16, a P/E/G ratio of 1.05 and a beta of 0.96. The firm's fifty day simple moving average is $111.51 and its 200 day simple moving average is $105.37.

Kirby (NYSE:KEX - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.06. The business had revenue of $785.66 million for the quarter, compared to the consensus estimate of $824.12 million. Kirby had a net margin of 9.02% and a return on equity of 9.81%. The company's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.19 EPS. Equities research analysts expect that Kirby Corporation will post 6.57 EPS for the current year.

Wall Street Analyst Weigh In

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

Kirby Company 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.