Tectonic Advisors LLC Buys 25,000 Shares of Kirby Corporation (NYSE:KEX)

Tectonic Advisors LLC grew its position in shares of Kirby Corporation (NYSE:KEX - Free Report) by 41.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 85,188 shares of the shipping company's stock after acquiring an additional 25,000 shares during the quarter. Tectonic Advisors LLC owned 0.15% of Kirby worth $8,605,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. CWM LLC raised its stake in Kirby by 270.1% in the 1st quarter. CWM LLC now owns 8,105 shares of the shipping company's stock valued at $819,000 after acquiring an additional 5,915 shares during the period. Louisiana State Employees Retirement System raised its stake in Kirby by 1.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 16,100 shares of the shipping company's stock valued at $1,626,000 after acquiring an additional 200 shares during the period. Stephens Inc. AR raised its stake in Kirby by 5.6% in the 1st quarter. Stephens Inc. AR now owns 11,549 shares of the shipping company's stock valued at $1,167,000 after acquiring an additional 612 shares during the period. New York State Common Retirement Fund raised its stake in Kirby by 23.1% in the 1st quarter. New York State Common Retirement Fund now owns 31,960 shares of the shipping company's stock valued at $3,228,000 after acquiring an additional 6,000 shares during the period. Finally, Coyle Financial Counsel LLC raised its stake in Kirby by 5.1% in the 1st quarter. Coyle Financial Counsel LLC now owns 16,770 shares of the shipping company's stock valued at $1,694,000 after acquiring an additional 810 shares during the period. Institutional investors and hedge funds own 96.15% of the company's stock.

Kirby Stock Performance

KEX stock traded down $0.02 during trading hours on Friday, hitting $115.74. 708,813 shares of the stock were exchanged, compared to its average volume of 544,773. 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 firm has a market capitalization of $6.49 billion, a P/E ratio of 22.92, a P/E/G ratio of 1.02 and a beta of 0.96. The company has a 50-day simple moving average of $112.48 and a two-hundred day simple moving average of $105.62. Kirby Corporation has a 12 month low of $83.94 and a 12 month high of $132.21.

Kirby (NYSE:KEX - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.33 earnings per share for the quarter, topping 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 firm had revenue of $785.66 million for the quarter, compared to analysts' expectations of $824.12 million. During the same quarter last year, the business earned $1.19 EPS. The company's quarterly revenue was down 2.8% compared to the same quarter last year. On average, analysts forecast that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Bank of America increased 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 Company 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.