Pallas Capital Advisors LLC Acquires New Position in Kirby Co. (NYSE:KEX)

Pallas Capital Advisors LLC bought a new position in Kirby Co. (NYSE:KEX) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,754 shares of the shipping company’s stock, valued at approximately $379,000.

Several other large investors also recently added to or reduced their stakes in KEX. Empowered Funds LLC bought a new stake in Kirby in the fourth quarter worth approximately $25,000. Colonial Trust Co SC grew its position in Kirby by 295.3% in the fourth quarter. Colonial Trust Co SC now owns 253 shares of the shipping company’s stock worth $27,000 after acquiring an additional 189 shares in the last quarter. UMB Bank n.a. grew its position in Kirby by 147.2% in the first quarter. UMB Bank n.a. now owns 351 shares of the shipping company’s stock worth $35,000 after acquiring an additional 209 shares in the last quarter. Versant Capital Management Inc bought a new stake in Kirby in the first quarter worth approximately $44,000. Finally, LGT Financial Advisors LLC bought a new stake in Kirby in the fourth quarter worth approximately $63,000. 96.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Bank of America boosted their price objective on shares of Kirby from $116.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, May 16th.

Kirby Price Performance

NYSE:KEX opened at $112.52 on Friday. The stock has a market cap of $6.31 billion, a P/E ratio of 22.92, a PEG ratio of 0.88 and a beta of 0.97. Kirby Co. has a one year low of $83.94 and a one year high of $132.21. The company has a fifty day moving average price of $103.43 and a 200 day moving average price of $105.72. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.05.

Kirby (NYSE:KEX) last released its earnings results on Thursday, May 1st. The shipping company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.27 by $0.06. The firm had revenue of $785.66 million during the quarter, compared to analysts’ expectations of $824.12 million. Kirby had a net margin of 8.78% and a return on equity of 9.71%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.19 EPS. Analysts anticipate that Kirby Co. will post 6.57 earnings per share for the current year.

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.