Millennium Management LLC Raises Stock Holdings in Kirby Corporation $KEX

by · The Cerbat Gem

Millennium Management LLC increased its position in Kirby Corporation (NYSE:KEX – Free Report) by 49.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 612,400 shares of the shipping company’s stock after buying an additional 202,167 shares during the quarter. Millennium Management LLC’s holdings in Kirby were worth $61,859,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings in Kirby by 873.6% in the fourth quarter. BNP Paribas Financial Markets now owns 44,726 shares of the shipping company’s stock valued at $4,732,000 after acquiring an additional 40,132 shares in the last quarter. Colonial Trust Co SC boosted its holdings in Kirby by 295.3% in the fourth quarter. Colonial Trust Co SC now owns 253 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 189 shares in the last quarter. Deutsche Bank AG boosted its holdings in Kirby by 2,655.4% in the fourth quarter. Deutsche Bank AG now owns 46,897 shares of the shipping company’s stock valued at $4,962,000 after acquiring an additional 45,195 shares in the last quarter. Focus Partners Wealth boosted its holdings in Kirby by 35.3% in the fourth quarter. Focus Partners Wealth now owns 3,624 shares of the shipping company’s stock valued at $383,000 after acquiring an additional 945 shares in the last quarter. Finally, Gotham Asset Management LLC bought a new stake in Kirby in the fourth quarter valued at $1,061,000. 96.15% of the stock is owned by hedge funds and other institutional investors.

Kirby Stock Performance

Shares of KEX stock opened at $89.09 on Monday. Kirby Corporation has a 12 month low of $83.94 and a 12 month high of $132.21. The stock has a market cap of $4.97 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 0.91 and a beta of 1.09. 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 company’s fifty day moving average price is $106.13 and its 200-day moving average price is $104.24.

Kirby (NYSE:KEX – Get Free Report) last announced its earnings results on Thursday, July 31st. The shipping company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.08. Kirby had a net margin of 9.25% and a return on equity of 10.02%. The firm had revenue of $855.46 million for the quarter, compared to analysts’ expectations of $851.94 million. During the same quarter in the previous year, the business posted $1.43 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts expect that Kirby Corporation will post 6.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on KEX. Bank of America cut their price target on shares of Kirby from $110.00 to $107.00 and set a “buy” rating on the stock in a report on Wednesday, September 3rd. Zacks Research upgraded shares of Kirby from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 3rd. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Kirby currently has an average rating of “Moderate Buy” and an average target price of $121.00.

Read Our Latest Stock Analysis on KEX

Kirby Profile

(Free Report)

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.

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