Royce & Associates LP Has $85.14 Million Position in Kirby Co. (KEX)

Royce & Associates LP cut its position in shares of Kirby Co. (NYSE:KEX) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,290,895 shares of the shipping company’s stock after selling 5,655 shares during the quarter. Kirby makes up about 0.6% of Royce & Associates LP’s holdings, making the stock its 26th biggest position. Royce & Associates LP owned approximately 2.16% of Kirby worth $85,135,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Diamond Hill Capital Management Inc. raised its position in Kirby by 40.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,491,202 shares of the shipping company’s stock worth $164,295,000 after acquiring an additional 713,836 shares during the period. Lord Abbett & CO. LLC raised its position in Kirby by 65.9% in the second quarter. Lord Abbett & CO. LLC now owns 788,653 shares of the shipping company’s stock worth $52,721,000 after acquiring an additional 313,184 shares during the period. Dimensional Fund Advisors LP raised its position in Kirby by 12.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,174,026 shares of the shipping company’s stock worth $143,380,000 after acquiring an additional 246,064 shares during the period. Koch Industries Inc. bought a new stake in Kirby in the second quarter worth about $216,000. Finally, Atlanta Capital Management Co. L L C raised its position in Kirby by 5.0% in the second quarter. Atlanta Capital Management Co. L L C now owns 4,472,441 shares of the shipping company’s stock worth $298,983,000 after acquiring an additional 213,303 shares during the period. Institutional investors and hedge funds own 96.59% of the company’s stock.

Kirby Co. (NYSE:KEX) traded down $3.25 during midday trading on Wednesday, hitting $62.95. 488,000 shares of the stock traded hands, compared to its average volume of 422,437. Kirby Co. has a one year low of $59.25 and a one year high of $74.50. The company has a current ratio of 1.93, a quick ratio of 1.23 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $3,951.94, a price-to-earnings ratio of 31.37, a P/E/G ratio of 4.12 and a beta of 1.04.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Wednesday, November 1st. The shipping company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.44 by $0.08. The company had revenue of $541.30 million during the quarter, compared to analysts’ expectations of $517.54 million. Kirby had a net margin of 5.88% and a return on equity of 4.48%. Kirby’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 earnings per share. equities research analysts expect that Kirby Co. will post 2.01 earnings per share for the current fiscal year.

Several analysts have commented on KEX shares. BidaskClub raised shares of Kirby from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $67.00 price objective on shares of Kirby in a research report on Friday, November 3rd. Finally, Jefferies Group reissued a “buy” rating and issued a $85.00 price target on shares of Kirby in a research report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Kirby currently has a consensus rating of “Hold” and a consensus target price of $75.40.

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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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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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