Vaughan Nelson Investment Management L.P. Raises Stake in Kirby Corporation $KEX

Vaughan Nelson Investment Management L.P. increased its stake in Kirby Corporation (NYSE:KEX) by 12.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 714,127 shares of the shipping company’s stock after buying an additional 80,315 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Kirby were worth $80,989,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KEX. Versant Capital Management Inc purchased a new position in shares of Kirby in the 1st quarter worth about $44,000. GAMMA Investing LLC raised its stake in Kirby by 15,397.5% in the 1st quarter. GAMMA Investing LLC now owns 67,879 shares of the shipping company’s stock valued at $6,856,000 after acquiring an additional 67,441 shares during the period. Merit Financial Group LLC bought a new stake in Kirby in the 1st quarter valued at about $390,000. Sivia Capital Partners LLC bought a new stake in Kirby in the 1st quarter valued at about $227,000. Finally, UMB Bank n.a. raised its stake in Kirby by 147.2% in the 1st quarter. UMB Bank n.a. now owns 351 shares of the shipping company’s stock valued at $35,000 after acquiring an additional 209 shares during the period. 96.15% of the stock is owned by hedge funds and other institutional investors.

Kirby Trading Down 0.9%

Shares of KEX opened at $82.95 on Friday. The business’s 50-day moving average price is $93.69 and its 200-day moving average price is $102.19. Kirby Corporation has a twelve month low of $81.90 and a twelve month high of $132.21. The stock has a market cap of $4.63 billion, a PE ratio of 15.68, a P/E/G ratio of 0.87 and a beta of 1.00. 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 data on Thursday, July 31st. The shipping company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.08. The company had revenue of $855.46 million for the quarter, compared to analysts’ expectations of $851.94 million. Kirby had a net margin of 9.25% and a return on equity of 10.02%. Kirby’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.43 earnings per share. On average, equities analysts forecast that Kirby Corporation will post 6.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on KEX shares. Zacks Research upgraded Kirby from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 3rd. Citigroup started coverage on Kirby in a research note on Monday, September 22nd. They issued a “neutral” rating and a $91.00 price objective on the stock. BTIG Research restated a “buy” rating and issued a $125.00 price objective on shares of Kirby in a research note on Thursday, September 18th. Bank of America decreased their price target on Kirby from $110.00 to $107.00 and set a “buy” rating on the stock in a research report on Wednesday, September 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Kirby in a research report on Saturday, September 27th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Kirby presently has an average rating of “Moderate Buy” and a consensus target price of $114.50.

About Kirby

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.