Fruth Investment Management raised its stake in shares of Kirby Co. (NYSE:KEX) by 15.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 21,850 shares of the shipping company’s stock after acquiring an additional 2,846 shares during the period. Fruth Investment Management’s holdings in Kirby were worth $1,459,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. California Public Employees Retirement System lifted its stake in Kirby by 4.3% during the 3rd quarter. California Public Employees Retirement System now owns 115,035 shares of the shipping company’s stock valued at $7,587,000 after acquiring an additional 4,735 shares during the period. Virtu Financial LLC bought a new position in Kirby during the 3rd quarter valued at about $239,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in Kirby by 79.8% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,931 shares of the shipping company’s stock valued at $127,000 after acquiring an additional 857 shares during the period. Cubist Systematic Strategies LLC bought a new position in Kirby during the 3rd quarter valued at about $310,000. Finally, Point72 Asset Management L.P. bought a new position in Kirby during the 3rd quarter valued at about $574,000. Institutional investors and hedge funds own 96.58% of the company’s stock.
Several research firms have issued reports on KEX. Zacks Investment Research cut shares of Kirby from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. Jefferies Group reaffirmed a “buy” rating and set a $85.00 price target on shares of Kirby in a research report on Monday, October 16th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $67.00 price target on shares of Kirby in a research report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $75.40.
Kirby (NYSE:KEX) last released its quarterly earnings results on Wednesday, November 1st. The shipping company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.08. Kirby had a net margin of 5.88% and a return on equity of 4.48%. The firm had revenue of $541.30 million during the quarter, compared to analyst estimates of $517.54 million. During the same quarter in the prior year, the firm earned $0.59 EPS. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. analysts forecast that Kirby Co. will post 2.03 EPS for the current fiscal year.
Kirby Company Profile
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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