Schroder Investment Management Group Raises Stake in Kirby Co. (KEX)
Schroder Investment Management Group grew its position in Kirby Co. (NYSE:KEX) by 42.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 673,103 shares of the shipping company’s stock after buying an additional 201,037 shares during the quarter. Schroder Investment Management Group owned 1.25% of Kirby worth $45,199,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Verition Fund Management LLC acquired a new stake in shares of Kirby in the second quarter valued at $204,000. Koch Industries Inc. acquired a new position in Kirby during the 2nd quarter worth $216,000. Cornerstone Capital Management Holdings LLC. acquired a new position in Kirby during the 2nd quarter worth $233,000. World Asset Management Inc grew its stake in Kirby by 12.7% during the 2nd quarter. World Asset Management Inc now owns 3,718 shares of the shipping company’s stock worth $249,000 after purchasing an additional 418 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its stake in Kirby by 70.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,929 shares of the shipping company’s stock worth $263,000 after purchasing an additional 1,629 shares in the last quarter. 96.59% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently commented on KEX shares. BidaskClub raised Kirby from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Stifel Nicolaus reissued a “hold” rating and set a $67.00 target price on shares of Kirby in a research note on Friday, November 3rd. Finally, Jefferies Group reissued a “buy” rating and set a $85.00 target price on shares of Kirby in a research note on Monday, October 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Kirby has an average rating of “Hold” and a consensus target price of $75.40.
Kirby Co. (NYSE:KEX) opened at $66.60 on Friday. Kirby Co. has a one year low of $59.25 and a one year high of $74.50. The company has a market capitalization of $4,017.61, a price-to-earnings ratio of 31.90, a P/E/G ratio of 4.19 and a beta of 1.04. The company has a current ratio of 1.93, a quick ratio of 1.23 and a debt-to-equity ratio of 0.36.
Kirby (NYSE:KEX) last released its earnings results on Wednesday, November 1st. The shipping company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.08. Kirby had a return on equity of 4.48% and a net margin of 5.88%. The firm had revenue of $541.30 million during the quarter, compared to analysts’ expectations of $517.54 million. During the same period in the previous year, the firm posted $0.59 EPS. Kirby’s revenue for the quarter was up 24.5% on a year-over-year basis. analysts anticipate that Kirby Co. will post 2.01 earnings per share for the current fiscal year.
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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