Greenwood Capital Associates LLC Trims Position in Kirby Corporation $KEX

Greenwood Capital Associates LLC trimmed its holdings in shares of Kirby Corporation (NYSE:KEX) by 16.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,059 shares of the shipping company’s stock after selling 962 shares during the period. Greenwood Capital Associates LLC’s holdings in Kirby were worth $574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Kirby by 244.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 231 shares of the shipping company’s stock valued at $26,000 after buying an additional 164 shares in the last quarter. Maseco LLP purchased a new position in shares of Kirby in the 2nd quarter valued at approximately $28,000. Opal Wealth Advisors LLC purchased a new position in shares of Kirby in the 1st quarter valued at approximately $28,000. KBC Group NV purchased a new position in shares of Kirby in the 1st quarter valued at approximately $32,000. Finally, UMB Bank n.a. raised its position in shares of 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 purchasing an additional 209 shares during the last quarter. 96.15% of the stock is currently owned by institutional investors.

Kirby Price Performance

Shares of NYSE KEX opened at $82.95 on Friday. The firm has a market cap of $4.63 billion, a PE ratio of 15.68, a PEG ratio of 0.87 and a beta of 1.00. The firm has a fifty day moving average of $93.69 and a 200 day moving average of $102.19. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.12 and a current ratio of 1.74. Kirby Corporation has a one year low of $81.90 and a one year high of $132.21.

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

Wall Street Analysts Forecast Growth

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

Kirby 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.