Logan Capital Management Inc. Sells 424 Shares of Kirby Corporation $KEX

Logan Capital Management Inc. trimmed its position in Kirby Corporation (NYSE:KEX) by 9.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 4,040 shares of the shipping company’s stock after selling 424 shares during the period. Logan Capital Management Inc.’s holdings in Kirby were worth $458,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of KEX. Select Equity Group L.P. boosted its position in Kirby by 24.8% in the 1st quarter. Select Equity Group L.P. now owns 1,954,698 shares of the shipping company’s stock valued at $197,444,000 after buying an additional 389,005 shares during the last quarter. Park West Asset Management LLC boosted its position in Kirby by 69.3% in the 1st quarter. Park West Asset Management LLC now owns 776,000 shares of the shipping company’s stock valued at $78,384,000 after buying an additional 317,721 shares during the last quarter. Nuveen LLC bought a new position in Kirby in the 1st quarter valued at $31,741,000. William Blair Investment Management LLC bought a new position in Kirby in the 2nd quarter valued at $32,817,000. Finally, AQR Capital Management LLC boosted its position in Kirby by 90.4% in the 1st quarter. AQR Capital Management LLC now owns 527,789 shares of the shipping company’s stock valued at $52,441,000 after buying an additional 250,601 shares during the last quarter. 96.15% of the stock is currently owned by institutional investors.

Kirby Stock Performance

KEX stock opened at $88.78 on Wednesday. The business’s 50-day moving average price is $87.62 and its two-hundred day moving average price is $100.69. The company has a current ratio of 1.74, a quick ratio of 1.12 and a debt-to-equity ratio of 0.33. The firm has a market cap of $4.95 billion, a PE ratio of 16.78, a P/E/G ratio of 0.92 and a beta of 1.00. Kirby Corporation has a 1-year low of $79.51 and a 1-year high of $132.21.

Kirby (NYSE:KEX) last posted its earnings results 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 firm had revenue of $855.46 million for the quarter, compared to analyst estimates of $851.94 million. Kirby had a return on equity of 10.02% and a net margin of 9.25%.The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.43 earnings per share. As a group, research analysts forecast that Kirby Corporation will post 6.57 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on KEX shares. Weiss Ratings restated a “hold (c+)” rating on shares of Kirby in a research report on Wednesday, October 8th. Evercore ISI reduced their price target on Kirby from $122.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, October 9th. Bank of America reduced 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. Citigroup started coverage on Kirby in a research report on Monday, September 22nd. They issued a “neutral” rating and a $91.00 price target on the stock. Finally, BTIG Research restated a “buy” rating and issued a $125.00 price target on shares of Kirby in a research report on Thursday, September 18th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Kirby presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.40.

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.