Pacer Advisors Inc. Has $545,000 Position in Kirby Corporation (NYSE:KEX)

Pacer Advisors Inc. lowered its stake in shares of Kirby Corporation (NYSE:KEX - Free Report) by 66.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,393 shares of the shipping company's stock after selling 10,789 shares during the quarter. Pacer Advisors Inc.'s holdings in Kirby were worth $545,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Cetera Investment Advisers boosted its holdings in shares of Kirby by 15.1% in the 1st quarter. Cetera Investment Advisers now owns 7,246 shares of the shipping company's stock valued at $732,000 after purchasing an additional 949 shares in the last quarter. Royce & Associates LP boosted its holdings in shares of Kirby by 7.5% in the 1st quarter. Royce & Associates LP now owns 159,482 shares of the shipping company's stock valued at $16,109,000 after purchasing an additional 11,183 shares in the last quarter. Madison Asset Management LLC acquired a new stake in shares of Kirby in the 1st quarter valued at $253,000. Homestead Advisers Corp acquired a new stake in shares of Kirby in the 1st quarter valued at $3,636,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Kirby in the 1st quarter valued at $1,466,000. Institutional investors and hedge funds own 96.15% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Bank of America raised 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 Price Performance

Shares of NYSE KEX traded up $0.19 during mid-day trading on Friday, hitting $95.50. 1,660,498 shares of the stock traded hands, compared to its average volume of 613,185. 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 Corporation has a twelve month low of $83.94 and a twelve month high of $132.21. The company has a market cap of $5.36 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 0.86 and a beta of 0.96. The firm has a 50 day simple moving average of $113.86 and a two-hundred day simple moving average of $106.32.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The shipping company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.08. Kirby had a return on equity of 10.07% and a net margin of 9.25%. The company had revenue of $855.46 million for the quarter, compared to the consensus estimate of $851.94 million. During the same quarter last year, the business posted $1.43 EPS. Kirby's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast that Kirby Corporation will post 6.57 EPS 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.