Shelton Capital Management Buys New Holdings in Kirby Corporation (KEX)
Shelton Capital Management bought a new position in Kirby Corporation (NYSE:KEX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,091 shares of the shipping company’s stock, valued at approximately $273,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Credit Agricole S A acquired a new stake in Kirby Corporation in the 1st quarter worth approximately $423,000. Morgan Stanley lifted its holdings in Kirby Corporation by 22.9% in the 1st quarter. Morgan Stanley now owns 126,244 shares of the shipping company’s stock worth $8,906,000 after purchasing an additional 23,498 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in Kirby Corporation by 0.7% in the 2nd quarter. Neuberger Berman Group LLC now owns 1,023,373 shares of the shipping company’s stock worth $68,412,000 after purchasing an additional 6,643 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Kirby Corporation by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 4,159,390 shares of the shipping company’s stock worth $293,445,000 after purchasing an additional 208,693 shares during the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new stake in Kirby Corporation in the 2nd quarter worth approximately $1,083,000.
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Kirby Corporation (KEX) opened at 65.95 on Monday. Kirby Corporation has a 12 month low of $55.11 and a 12 month high of $74.50. The company has a market capitalization of $3.56 billion, a P/E ratio of 30.22 and a beta of 1.01. The firm has a 50-day moving average price of $64.34 and a 200 day moving average price of $65.79.
Kirby Corporation (NYSE:KEX) last released its quarterly earnings data on Wednesday, July 26th. The shipping company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. Kirby Corporation had a return on equity of 4.85% and a net margin of 6.41%. The company had revenue of $473.33 million during the quarter, compared to analysts’ expectations of $478.85 million. During the same period last year, the firm posted $0.72 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. Analysts expect that Kirby Corporation will post $1.96 EPS for the current year.
Several equities research analysts recently weighed in on the company. Zacks Investment Research lowered Kirby Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub lowered Kirby Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Cowen and Company restated a “hold” rating and issued a $70.00 target price on shares of Kirby Corporation in a report on Friday, July 28th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $69.00 target price on shares of Kirby Corporation in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $71.71.
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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