Kirby Co. (NYSE:KEX) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in shares of Kirby Co. (NYSE:KEXGet Rating) by 16.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 237,359 shares of the shipping company’s stock after purchasing an additional 32,968 shares during the quarter. Principal Financial Group Inc.’s holdings in Kirby were worth $14,441,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Envestnet Asset Management Inc. grew its holdings in Kirby by 62.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 13,380 shares of the shipping company’s stock worth $966,000 after buying an additional 5,137 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Kirby by 29.4% in the 1st quarter. Victory Capital Management Inc. now owns 603,825 shares of the shipping company’s stock worth $43,462,000 after buying an additional 137,037 shares in the last quarter. Stephens Inc. AR grew its holdings in Kirby by 3.9% in the 1st quarter. Stephens Inc. AR now owns 22,331 shares of the shipping company’s stock worth $1,612,000 after buying an additional 831 shares in the last quarter. California Public Employees Retirement System grew its holdings in Kirby by 7.0% in the 1st quarter. California Public Employees Retirement System now owns 132,814 shares of the shipping company’s stock worth $9,588,000 after buying an additional 8,686 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Kirby by 31.2% in the 1st quarter. Russell Investments Group Ltd. now owns 430,904 shares of the shipping company’s stock worth $31,104,000 after buying an additional 102,414 shares in the last quarter. 95.26% of the stock is currently owned by institutional investors and hedge funds.

Kirby Stock Performance

Shares of NYSE KEX opened at $69.05 on Friday. The stock has a fifty day moving average price of $66.44 and a two-hundred day moving average price of $65.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.29 and a current ratio of 1.97. The firm has a market cap of $4.14 billion, a P/E ratio of 43.43, a PEG ratio of 2.77 and a beta of 1.27. Kirby Co. has a 1 year low of $50.58 and a 1 year high of $75.08.

Kirby (NYSE:KEXGet Rating) last issued its quarterly earnings results on Monday, October 24th. The shipping company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.06. The firm had revenue of $745.80 million during the quarter, compared to analyst estimates of $729.58 million. Kirby had a return on equity of 3.51% and a net margin of 3.63%. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period last year, the company posted $0.17 EPS. Research analysts forecast that Kirby Co. will post 2.08 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Kirby in a report on Wednesday, October 12th. They issued a “hold” rating for the company.

About Kirby

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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.

See Also

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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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