Millennium Management LLC Increases Stock Position in Kirby Corporation $KEX

Millennium Management LLC boosted its stake in Kirby Corporation (NYSE:KEX - Free Report) by 49.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 612,400 shares of the shipping company's stock after purchasing an additional 202,167 shares during the quarter. Millennium Management LLC owned about 1.09% of Kirby worth $61,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Colonial Trust Co SC raised its stake in Kirby by 295.3% in the fourth quarter. Colonial Trust Co SC now owns 253 shares of the shipping company's stock valued at $27,000 after purchasing an additional 189 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in Kirby in the first quarter valued at approximately $28,000. KBC Group NV purchased a new stake in Kirby in the first quarter valued at approximately $32,000. UMB Bank n.a. raised its stake in Kirby by 147.2% in the first quarter. UMB Bank n.a. now owns 351 shares of the shipping company's stock valued at $35,000 after purchasing an additional 209 shares in the last quarter. Finally, Brooklyn Investment Group raised its stake in Kirby by 40.7% in the first quarter. Brooklyn Investment Group now owns 394 shares of the shipping company's stock valued at $40,000 after purchasing an additional 114 shares in the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

Kirby Trading Down 1.2%

KEX stock opened at $89.09 on Monday. The company has a market capitalization of $4.97 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 0.91 and a beta of 1.09. Kirby Corporation has a one year low of $83.94 and a one year high of $132.21. The company's 50 day moving average price is $106.13 and its two-hundred day moving average price is $104.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.12 and a current ratio of 1.74.

Kirby (NYSE:KEX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The shipping company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.59 by $0.08. The firm had revenue of $855.46 million for the quarter, compared to the consensus estimate of $851.94 million. Kirby had a net margin of 9.25% and a return on equity of 10.02%. The business's revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $1.43 earnings per share. As a group, analysts predict that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

KEX has been the topic of a number of recent analyst reports. Zacks Research raised shares of Kirby from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 3rd. Bank of America lowered their target price on shares of Kirby from $110.00 to $107.00 and set a "buy" rating on the stock in a research note on Wednesday, September 3rd. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.00.

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.

Want to see what other hedge funds are holding KEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kirby Corporation (NYSE:KEX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.