Pacific Global Investment Management Co Lowers stake in Kirby Corporation (KEX)

Kirby Corporation (KEX) : Pacific Global Investment Management Co reduced its stake in Kirby Corporation by 7.56% during the most recent quarter end. The investment management company now holds a total of 148,787 shares of Kirby Corporation which is valued at $9.5 Million after selling 12,170 shares in Kirby Corporation , the firm said in a disclosure report filed with the SEC on May 13, 2016.Kirby Corporation makes up approximately 2.19% of Pacific Global Investment Management Co’s portfolio.

Other Hedge Funds, Including , Thrivent Financial For Lutherans boosted its stake in KEX in the latest quarter, The investment management firm added 710 additional shares and now holds a total of 7,020 shares of Kirby Corporation which is valued at $447,174.Oppenheimerfunds reduced its stake in KEX by selling 1,906 shares or 27.27% in the most recent quarter. The Hedge Fund company now holds 5,084 shares of KEX which is valued at $323,851.State Of Wisconsin Investment Board reduced its stake in KEX by selling 26,570 shares or 10.68% in the most recent quarter. The Hedge Fund company now holds 222,200 shares of KEX which is valued at $14.2 Million. Kirby Corporation makes up approx 0.06% of State Of Wisconsin Investment Board’s portfolio.

Kirby Corporation opened for trading at $68.73 and hit $70.06 on the upside on Wednesday, eventually ending the session at $69.4, with a gain of 1.55% or 1.06 points. The heightened volatility saw the trading volume jump to 3,32,990 shares. Company has a market cap of $3,738 M.

On the company’s financial health, Kirby Corporation reported $0.77 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus of $0.78. The company had revenue of $458.70 million for the quarter, compared to analysts expectations of $462.16 million. The company’s revenue was down -21.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.09 EPS.

Many Wall Street Analysts have commented on Kirby Corporation. BB&T Capital Mkts Upgraded Kirby Corporation on May 2, 2016 to ” Buy”, Price Target of the shares are set at $80.Company shares were Downgraded by Cowen on Apr 29, 2016 to ” Market Perform”, Firm has raised the Price Target to $ 65 from a previous price target of $60 .

Kirby Corporation is the domestic tank barge operator transporting bulk liquid products. The Company through its subsidiaries operates in two segments: Marine Transportation and Diesel Engine Services. The Marine Transportation segment is a provider of marine transportation services operating tank barges and towing vessels transporting bulk liquid products. The Diesel Engine Services segment sells replacement parts provides service mechanics to overhaul and repair medium-speed and high-speed diesel engines transmissions reduction gears pumps and compression products maintains facilities to rebuild component parts or entire medium-speed and high-speed diesel engines transmissions and entire reduction gears and manufactures and remanufactures oilfield service equipment including pressure pumping units. Its customers include oil service companies offshore fishing companies nuclear power industry compression companies and construction companies among others.

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