New Age Alpha Advisors LLC Decreases Holdings in Kirby Corporation (NYSE:KEX)

Key Points

• New Age Alpha Advisors LLC significantly reduced its stake in Kirby Corporation by 97.4%, holding only 936 shares after selling 34,466 shares in the first quarter.
• Kirby Corporation reported $1.67 earnings per share for the last quarter, exceeding analysts' expectations and showcasing a revenue increase of 3.8% compared to the same period last year.
• Bank of America raised its price target for Kirby from $116.00 to $125.00, maintaining a "buy" rating on the stock.

New Age Alpha Advisors LLC reduced its stake in shares of Kirby Corporation (NYSE:KEX - Free Report) by 97.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 936 shares of the shipping company's stock after selling 34,466 shares during the quarter. New Age Alpha Advisors LLC's holdings in Kirby were worth $95,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Brown Advisory Inc. boosted its position in Kirby by 0.3% during the first 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 lifted its position in Kirby by 1.0% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,035 shares of the shipping company's stock worth $1,379,000 after buying an additional 124 shares in the last quarter. Stifel Financial Corp lifted its position in Kirby by 0.5% during the fourth quarter. Stifel Financial Corp now owns 29,047 shares of the shipping company's stock worth $3,073,000 after buying an additional 138 shares in the last quarter. Blue Trust Inc. lifted its position in 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 buying an additional 149 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in Kirby by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 25,508 shares of the shipping company's stock worth $2,699,000 after buying an additional 160 shares in the last quarter. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Kirby Trading Down 1.5%

KEX traded down $1.54 during mid-day trading on Thursday, hitting $97.96. 332,881 shares of the stock were exchanged, compared to its average volume of 623,938. The company has a market cap of $5.47 billion, a PE ratio of 18.52, a PEG ratio of 0.99 and a beta of 1.01. The firm's fifty day moving average is $111.81 and its two-hundred day moving average is $105.65. Kirby Corporation has a 1-year low of $83.94 and a 1-year high of $132.21. The company has a current ratio of 1.74, a quick ratio of 0.96 and a debt-to-equity ratio of 0.33.

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

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.