Amundi Has $2.74 Million Holdings in Kirby Corporation $KEX

Amundi lifted its stake in shares of Kirby Corporation (NYSE:KEX) by 44.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 29,504 shares of the shipping company’s stock after purchasing an additional 9,105 shares during the quarter. Amundi’s holdings in Kirby were worth $2,741,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of Kirby during the first quarter worth $28,000. KBC Group NV acquired a new position in shares of Kirby during the first quarter worth $32,000. UMB Bank n.a. increased 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 buying an additional 209 shares in the last quarter. Brooklyn Investment Group increased its holdings in Kirby by 40.7% in the first quarter. Brooklyn Investment Group now owns 394 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 114 shares during the period. Finally, Versant Capital Management Inc acquired a new stake in Kirby in the first quarter valued at $44,000. 96.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Zacks Research upgraded Kirby from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 3rd. Bank of America decreased their price objective on Kirby from $110.00 to $107.00 and set a “buy” rating for the company in a report on Wednesday, September 3rd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $121.00.

Kirby Stock Performance

Shares of Kirby stock opened at $87.97 on Friday. 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 business has a 50-day moving average price of $103.90 and a two-hundred day moving average price of $103.83. Kirby Corporation has a 1-year low of $83.94 and a 1-year high of $132.21. The company has a market cap of $4.91 billion, a P/E ratio of 16.63, a PEG ratio of 0.89 and a beta of 1.09.

Kirby (NYSE:KEX) last issued 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. Kirby had a return on equity of 10.02% and a net margin of 9.25%.The firm had revenue of $855.46 million during the quarter, compared to the consensus estimate of $851.94 million. During the same period last year, the business posted $1.43 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. As a group, analysts anticipate that Kirby Corporation will post 6.57 EPS for the current year.

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.