Kirby Corporation (NYSE:KEX) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in shares of Kirby Corporation (NYSE:KEX - Free Report) by 13.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,687 shares of the shipping company's stock after selling 8,500 shares during the period. New York State Teachers Retirement System owned about 0.10% of Kirby worth $5,625,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Blue Trust Inc. lifted its position in shares of Kirby by 28.7% during the first quarter. Blue Trust Inc. now owns 668 shares of the shipping company's stock worth $67,000 after purchasing an additional 149 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Kirby by 30.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 11,075 shares of the shipping company's stock valued at $1,119,000 after acquiring an additional 2,616 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Kirby by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 6,726 shares of the shipping company's stock valued at $679,000 after acquiring an additional 180 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Kirby by 206.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,837 shares of the shipping company's stock valued at $792,000 after acquiring an additional 5,277 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in Kirby by 10.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 32,713 shares of the shipping company's stock valued at $3,304,000 after acquiring an additional 3,054 shares during the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Kirby Stock Down 0.4%

NYSE KEX traded down $0.49 during trading hours on Friday, reaching $116.90. 527,752 shares of the company traded hands, compared to its average volume of 545,896. Kirby Corporation has a 12 month low of $83.94 and a 12 month 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 stock has a market capitalization of $6.56 billion, a PE ratio of 23.15, a PEG ratio of 1.05 and a beta of 0.96. The company has a 50 day moving average of $109.69 and a two-hundred day moving average of $104.98.

Kirby (NYSE:KEX - Get Free Report) last issued its earnings results on Thursday, May 1st. The shipping company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.06. The company 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 firm's revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.19 earnings per share. As a group, equities analysts expect that Kirby Corporation will post 6.57 earnings per share 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.