VELA Investment Management LLC Has $13.16 Million Stock Holdings in Kirby Corporation (NYSE:KEX)

VELA Investment Management LLC increased its stake in Kirby Corporation (NYSE:KEX - Free Report) by 4.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,254 shares of the shipping company's stock after purchasing an additional 5,055 shares during the period. Kirby accounts for 4.1% of VELA Investment Management LLC's portfolio, making the stock its largest holding. VELA Investment Management LLC owned about 0.23% of Kirby worth $13,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Huntington National Bank lifted its stake in Kirby by 6.8% in the 4th quarter. Huntington National Bank now owns 1,781 shares of the shipping company's stock valued at $188,000 after purchasing an additional 113 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Kirby by 1.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,035 shares of the shipping company's stock valued at $1,379,000 after acquiring an additional 124 shares during the last quarter. Stifel Financial Corp increased its stake in Kirby by 0.5% in the fourth quarter. Stifel Financial Corp now owns 29,047 shares of the shipping company's stock valued at $3,073,000 after acquiring an additional 138 shares during the last quarter. Corient Private Wealth LLC increased its stake in Kirby by 0.5% in the fourth quarter. Corient Private Wealth LLC now owns 30,914 shares of the shipping company's stock valued at $3,271,000 after acquiring an additional 140 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Kirby by 28.7% during the first quarter. Blue Trust Inc. now owns 668 shares of the shipping company's stock worth $67,000 after buying an additional 149 shares during the last quarter. Institutional investors and hedge funds own 96.15% of the company's stock.

Kirby Price Performance

Shares of NYSE KEX opened at $116.90 on Friday. Kirby Corporation has a twelve month low of $83.94 and a twelve month high of $132.21. The company has a quick ratio of 0.96, a current ratio of 1.58 and a debt-to-equity ratio of 0.33. The stock's 50 day moving average price is $109.69 and its 200-day moving average price is $104.99. The company has a market capitalization of $6.56 billion, a PE ratio of 23.15, a PEG ratio of 1.05 and a beta of 0.96.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings results 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 net margin of 9.02% and a return on equity of 9.81%. The firm had revenue of $785.66 million for the quarter, compared to analysts' expectations of $824.12 million. During the same quarter in the prior year, the firm posted $1.19 earnings per share. The business's quarterly revenue was down 2.8% on a year-over-year basis. On average, equities analysts anticipate that Kirby Corporation will post 6.57 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Bank of America lifted their price target on shares of Kirby from $116.00 to $125.00 and gave the stock a "buy" rating in a report on Friday, May 16th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.