3,687 Shares in Kirby Corporation $KEX Acquired by United Services Automobile Association

Key Points

• United Services Automobile Association has acquired a new position in Kirby Corporation, buying 3,687 shares valued at approximately $371,000.
• Kirby Corporation's recent quarterly earnings report revealed an EPS of $1.67, exceeding analysts' expectations, with a revenue increase of 3.8% year-over-year.
• Institutional investors now own 96.15% of Kirby's stock, with various hedge funds increasing their holdings, indicating strong institutional interest in the company.

United Services Automobile Association bought a new stake in Kirby Corporation (NYSE:KEX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,687 shares of the shipping company's stock, valued at approximately $371,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in Kirby during the first quarter worth about $28,000. KBC Group NV purchased a new stake in Kirby during the first quarter worth about $32,000. UMB Bank n.a. boosted its holdings in Kirby by 147.2% during the first quarter. UMB Bank n.a. now owns 351 shares of the shipping company's stock worth $35,000 after buying an additional 209 shares in the last quarter. Brooklyn Investment Group boosted its holdings in Kirby by 40.7% during the first quarter. Brooklyn Investment Group now owns 394 shares of the shipping company's stock worth $40,000 after buying an additional 114 shares in the last quarter. Finally, Versant Capital Management Inc purchased a new stake in Kirby during the first quarter worth about $44,000. Hedge funds and other institutional investors own 96.15% of the company's stock.

Kirby Trading Down 0.3%

Shares of NYSE:KEX traded down $0.26 during trading on Wednesday, reaching $84.32. The stock had a trading volume of 111,215 shares, compared to its average volume of 661,230. Kirby Corporation has a fifty-two week low of $83.83 and a fifty-two week high of $132.21. The company has a quick ratio of 1.12, a current ratio of 1.74 and a debt-to-equity ratio of 0.33. The business has a fifty day moving average price of $102.02 and a 200-day moving average price of $103.48. The stock has a market cap of $4.71 billion, a P/E ratio of 15.95, a PEG ratio of 0.86 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, topping the consensus estimate of $1.59 by $0.08. Kirby had a net margin of 9.25% and a return on equity of 10.02%. The firm had revenue of $855.46 million during the quarter, compared to analyst estimates of $851.94 million. During the same quarter in the prior year, the business posted $1.43 earnings per share. Kirby's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts anticipate that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on KEX shares. Bank of America decreased their price objective on shares of Kirby from $110.00 to $107.00 and set a "buy" rating on the stock in a report on Wednesday, September 3rd. Zacks Research raised shares of Kirby from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 3rd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $121.00.

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.