Kirby Corporation (NYSE:KEX) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its holdings in shares of Kirby Corporation (NYSE:KEX - Free Report) by 74.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,348 shares of the shipping company's stock after selling 12,473 shares during the period. M&T Bank Corp's holdings in Kirby were worth $440,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Hourglass Capital LLC increased its position in Kirby by 5.2% during the 1st quarter. Hourglass Capital LLC now owns 47,160 shares of the shipping company's stock worth $4,764,000 after purchasing an additional 2,335 shares during the period. Brown Advisory Inc. lifted its position in shares of Kirby by 0.3% during the 1st quarter. Brown Advisory Inc. now owns 36,597 shares of the shipping company's stock valued at $3,697,000 after acquiring an additional 117 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Kirby by 5.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 77,641 shares of the shipping company's stock valued at $7,842,000 after acquiring an additional 3,924 shares during the period. VELA Investment Management LLC lifted its position in shares of Kirby by 4.0% during the 1st quarter. VELA Investment Management LLC now owns 130,254 shares of the shipping company's stock valued at $13,157,000 after acquiring an additional 5,055 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Kirby by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 132,089 shares of the shipping company's stock valued at $13,342,000 after acquiring an additional 470 shares during the period. Institutional investors and hedge funds own 96.15% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Bank of America lifted their price target 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 Stock Down 1.4%

KEX stock opened at $113.56 on Thursday. The company's 50 day simple moving average is $112.25 and its 200-day simple moving average is $105.55. The firm has a market capitalization of $6.37 billion, a PE ratio of 22.49, a P/E/G ratio of 1.03 and a beta of 0.96. Kirby Corporation has a 12 month low of $83.94 and a 12 month high of $132.21. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.58 and a quick ratio of 0.96.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.27 by $0.06. The business had revenue of $785.66 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business earned $1.19 earnings per share. Equities analysts expect that Kirby Corporation will post 6.57 earnings per share for the current fiscal 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.

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