Vaughan Nelson Investment Management L.P. Buys 80,315 Shares of Kirby Corporation $KEX

Key Points

• Vaughan Nelson Investment Management L.P. increased its stake in Kirby Corporation by 12.7% during the 2nd quarter, acquiring 80,315 additional shares, bringing their total to 714,127 shares valued at approximately $80.99 million.
• Multiple hedge funds have also significantly increased their positions in Kirby, with Select Equity Group L.P. leading by growing its holdings by 24.8% in the 1st quarter.
• Kirby reported strong quarterly earnings, with an EPS of $1.67, exceeding analysts' expectations, and anticipations suggest it will post 6.57 EPS for the current fiscal year.

Vaughan Nelson Investment Management L.P. increased its stake in Kirby Corporation (NYSE:KEX - Free Report) by 12.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 714,127 shares of the shipping company's stock after acquiring an additional 80,315 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 1.27% of Kirby worth $80,989,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Select Equity Group L.P. grew its position in Kirby by 24.8% in the 1st quarter. Select Equity Group L.P. now owns 1,954,698 shares of the shipping company's stock valued at $197,444,000 after purchasing an additional 389,005 shares during the period. Jennison Associates LLC grew its position in Kirby by 9.0% in the 1st quarter. Jennison Associates LLC now owns 1,300,103 shares of the shipping company's stock valued at $131,323,000 after purchasing an additional 107,240 shares during the period. Encompass Capital Advisors LLC grew its position in Kirby by 32.1% in the 1st quarter. Encompass Capital Advisors LLC now owns 925,357 shares of the shipping company's stock valued at $93,470,000 after purchasing an additional 224,999 shares during the period. Park West Asset Management LLC grew its position in Kirby by 69.3% in the 1st quarter. Park West Asset Management LLC now owns 776,000 shares of the shipping company's stock valued at $78,384,000 after purchasing an additional 317,721 shares during the period. Finally, Ameriprise Financial Inc. grew its position in Kirby by 5.2% in the 1st quarter. Ameriprise Financial Inc. now owns 703,013 shares of the shipping company's stock valued at $71,010,000 after purchasing an additional 34,762 shares during the period. Institutional investors own 96.15% of the company's stock.

Kirby Price Performance

KEX opened at $82.95 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.74 and a quick ratio of 1.12. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 0.87 and a beta of 1.00. The firm's fifty day moving average price is $93.69 and its two-hundred day moving average price is $102.19. Kirby Corporation has a 1 year low of $81.90 and a 1 year high of $132.21.

Kirby (NYSE:KEX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The shipping company reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.08. The firm had revenue of $855.46 million for 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 business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.43 EPS. As a group, analysts anticipate that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KEX. 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 report on Wednesday, September 3rd. Citigroup began coverage on shares of Kirby in a research report on Monday, September 22nd. They issued a "neutral" rating and a $91.00 price target for the company. BTIG Research reissued a "buy" rating and issued a $125.00 price target on shares of Kirby in a research report on Thursday, September 18th. Weiss Ratings reissued a "hold (c+)" rating on shares of Kirby in a research report on Saturday, September 27th. Finally, Zacks Research raised shares of Kirby from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $114.50.

About Kirby

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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