Credit Suisse AG cut its position in shares of Kirby Corporation (NYSE:KEX) by 28.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,468 shares of the shipping company’s stock after selling 10,186 shares during the period. Credit Suisse AG’s holdings in Kirby Corporation were worth $1,797,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. World Asset Management Inc raised its stake in Kirby Corporation by 0.9% in the first quarter. World Asset Management Inc now owns 3,300 shares of the shipping company’s stock worth $233,000 after buying an additional 28 shares during the period. Envestnet Asset Management Inc. raised its stake in Kirby Corporation by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 4,701 shares of the shipping company’s stock worth $330,000 after buying an additional 67 shares during the period. Flinton Capital Management LLC raised its stake in Kirby Corporation by 0.4% in the first quarter. Flinton Capital Management LLC now owns 20,928 shares of the shipping company’s stock worth $1,476,000 after buying an additional 80 shares during the period. Meadow Creek Investment Management LLC raised its stake in Kirby Corporation by 0.4% in the first quarter. Meadow Creek Investment Management LLC now owns 28,776 shares of the shipping company’s stock worth $2,030,000 after buying an additional 110 shares during the period. Finally, Glen Harbor Capital Management LLC raised its stake in Kirby Corporation by 0.4% in the first quarter. Glen Harbor Capital Management LLC now owns 36,624 shares of the shipping company’s stock worth $2,584,000 after buying an additional 140 shares during the period.

Kirby Corporation (NYSE:KEX) traded up 0.41% during mid-day trading on Friday, hitting $61.45. The company had a trading volume of 108,111 shares. The company has a 50 day moving average of $64.05 and a 200 day moving average of $67.46. Kirby Corporation has a 1-year low of $50.80 and a 1-year high of $74.50. The firm has a market capitalization of $3.32 billion, a PE ratio of 28.16 and a beta of 1.01.

Kirby Corporation (NYSE:KEX) last released its quarterly earnings results on Wednesday, July 26th. The shipping company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.01. Kirby Corporation had a net margin of 6.41% and a return on equity of 4.85%. The business had revenue of $473.33 million for the quarter, compared to analyst estimates of $478.85 million. During the same period in the previous year, the company earned $0.72 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts predict that Kirby Corporation will post $1.97 earnings per share for the current fiscal year.

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A number of research firms have recently weighed in on KEX. BidaskClub raised Kirby Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Stifel Nicolaus lowered their price target on Kirby Corporation from $71.00 to $69.00 and set a “hold” rating for the company in a research report on Thursday, June 15th. Zacks Investment Research lowered Kirby Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Jefferies Group LLC reaffirmed a “buy” rating and set a $85.00 price target on shares of Kirby Corporation in a research report on Tuesday, May 30th. Finally, Cowen and Company reaffirmed a “hold” rating and set a $70.00 price target on shares of Kirby Corporation in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $69.22.

About Kirby Corporation

Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.

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Institutional Ownership by Quarter for Kirby Corporation (NYSE:KEX)

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