First Hawaiian Bank Raises Stock Position in Kirby Corporation $KEX

First Hawaiian Bank increased its holdings in shares of Kirby Corporation (NYSE:KEX) by 3.0% in the 1st quarter, HoldingsChannel reports. The firm owned 24,241 shares of the shipping company’s stock after acquiring an additional 717 shares during the quarter. First Hawaiian Bank’s holdings in Kirby were worth $2,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in KEX. Opal Wealth Advisors LLC purchased a new position in shares of Kirby during the first quarter worth $28,000. KBC Group NV purchased a new position in shares of Kirby during the first quarter worth $32,000. UMB Bank n.a. raised its holdings in shares of Kirby by 147.2% during the first quarter. UMB Bank n.a. now owns 351 shares of the shipping company’s stock worth $35,000 after purchasing an additional 209 shares during the last quarter. Brooklyn Investment Group raised its holdings in shares of Kirby by 40.7% during the first quarter. Brooklyn Investment Group now owns 394 shares of the shipping company’s stock worth $40,000 after purchasing an additional 114 shares during the last quarter. Finally, Versant Capital Management Inc purchased a new position in shares of Kirby during the first quarter worth $44,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KEX. Zacks Research raised shares of Kirby from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 3rd. Bank of America cut their price objective on shares of Kirby from $110.00 to $107.00 and set a “buy” rating for the company in a report on Wednesday, September 3rd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Kirby has an average rating of “Moderate Buy” and a consensus target price of $121.00.

Kirby Stock Down 2.2%

Shares of NYSE KEX opened at $86.09 on Friday. The company’s 50-day simple moving average is $103.29 and its 200-day simple moving average is $103.73. Kirby Corporation has a 52-week low of $83.94 and a 52-week high of $132.21. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 0.90 and a beta of 1.09. The company has a quick ratio of 1.12, a current ratio of 1.74 and a debt-to-equity ratio of 0.33.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Thursday, July 31st. The shipping company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.08. The firm had revenue of $855.46 million for the quarter, compared to analyst estimates of $851.94 million. Kirby had a net margin of 9.25% and a return on equity of 10.02%. Kirby’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.43 earnings per share. Equities analysts predict that Kirby Corporation will post 6.57 EPS for the current fiscal year.

Kirby Company Profile

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.