Oppenheimer Asset Management Inc. Has $8.86 Million Stock Holdings in Kirby Corporation (NYSE:KEX)

Oppenheimer Asset Management Inc. boosted its holdings in shares of Kirby Corporation (NYSE:KEX - Free Report) by 18.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,722 shares of the shipping company's stock after buying an additional 13,636 shares during the period. Oppenheimer Asset Management Inc. owned about 0.15% of Kirby worth $8,861,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of KEX. Ieq Capital LLC bought a new position in shares of Kirby during the fourth quarter valued at $257,000. Handelsbanken Fonder AB grew its position in shares of Kirby by 18.0% in the 4th quarter. Handelsbanken Fonder AB now owns 14,400 shares of the shipping company's stock valued at $1,524,000 after purchasing an additional 2,200 shares during the period. TCW Group Inc. grew its position in shares of Kirby by 35.4% in the 4th quarter. TCW Group Inc. now owns 27,110 shares of the shipping company's stock valued at $2,868,000 after purchasing an additional 7,082 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Kirby in the 4th quarter valued at approximately $1,114,000. Finally, Skylands Capital LLC bought a new stake in Kirby in the 4th quarter valued at approximately $3,592,000. Institutional investors and hedge funds own 96.15% of the company's stock.

Analysts Set New Price Targets

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

Kirby Stock Up 1.6%

KEX stock opened at $114.03 on Tuesday. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 1.00 and a beta of 0.97. Kirby Corporation has a fifty-two week low of $83.94 and a fifty-two week 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. The business's fifty day moving average price is $106.16 and its two-hundred day moving average price is $104.90.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.06. Kirby had a return on equity of 9.81% and a net margin of 9.02%. The business had revenue of $785.66 million for the quarter, compared to analyst estimates of $824.12 million. During the same period last year, the firm posted $1.19 earnings per share. Kirby's revenue was down 2.8% compared to the same quarter last year. On average, equities analysts anticipate 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.

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