Twin Tree Management LP Purchases New Holdings in Kirby Corporation $KEX

Key Points

• Twin Tree Management LP invested approximately $1.11 million in Kirby Corporation, acquiring 10,986 shares during the first quarter.
• Institutional investors hold a significant portion of Kirby Corporation's stock, with ownership at 96.15% after several firms increased their stakes in Q1.
• Kirby Corporation reported a better-than-expected $1.67 EPS for the last quarter, surpassing estimates, and saw a 3.8% increase in revenue year-over-year.

Twin Tree Management LP bought a new stake in shares of Kirby Corporation (NYSE:KEX - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,986 shares of the shipping company's stock, valued at approximately $1,110,000.

A number of other institutional investors also recently made changes to their positions in KEX. Hsbc Holdings PLC lifted its stake in shares of Kirby by 117.7% in the 4th quarter. Hsbc Holdings PLC now owns 9,882 shares of the shipping company's stock worth $1,047,000 after acquiring an additional 5,343 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of Kirby in the 4th quarter worth approximately $1,186,000. Northern Trust Corp lifted its stake in shares of Kirby by 10.2% in the 4th quarter. Northern Trust Corp now owns 518,255 shares of the shipping company's stock worth $54,831,000 after acquiring an additional 47,895 shares during the period. AQR Capital Management LLC lifted its stake in shares of Kirby by 22.1% in the 4th quarter. AQR Capital Management LLC now owns 277,188 shares of the shipping company's stock worth $29,279,000 after acquiring an additional 50,223 shares during the period. Finally, Freestone Grove Partners LP acquired a new stake in shares of Kirby in the 4th quarter worth approximately $472,000. 96.15% of the stock is owned by institutional investors and hedge funds.

Kirby Price Performance

Shares of NYSE KEX traded down $1.11 during midday trading on Friday, reaching $89.09. The company's stock had a trading volume of 1,376,887 shares, compared to its average volume of 641,113. The company has a current ratio of 1.74, a quick ratio of 1.12 and a debt-to-equity ratio of 0.33. The company has a 50 day moving average price of $106.64 and a 200 day moving average price of $104.43. Kirby Corporation has a one year low of $83.94 and a one year high of $132.21. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 0.89 and a beta of 1.09.

Kirby (NYSE:KEX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The shipping company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.59 by $0.08. The business had revenue of $855.46 million during 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 firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.43 EPS. On average, equities research analysts expect that Kirby Corporation will post 6.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Bank of America reduced their price target on shares of Kirby from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Wednesday. Zacks Research upgraded shares of Kirby from a "strong sell" rating to a "hold" rating in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Kirby currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.00.

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.