Park Presidio Capital Lowers stake in Kirby Corporation (KEX)

Kirby Corporation (KEX) : Park Presidio Capital reduced its stake in Kirby Corporation by 9.38% during the most recent quarter end. The investment management company now holds a total of 725,000 shares of Kirby Corporation which is valued at $39,099,250 after selling 75,000 shares in Kirby Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Kirby Corporation makes up approximately 5.94% of Park Presidio Capital’s portfolio.

Other Hedge Funds, Including , D. E. Shaw reduced its stake in KEX by selling 149,699 shares or 22.86% in the most recent quarter. The Hedge Fund company now holds 505,040 shares of KEX which is valued at $27,236,807. Kirby Corporation makes up approx 0.06% of D. E. Shaw’s portfolio. Engineers Gate Manager Lp sold out all of its stake in KEX during the most recent quarter. The investment firm sold 4,100 shares of KEX which is valued $221,113.Fayez Sarofim Co boosted its stake in KEX in the latest quarter, The investment management firm added 60 additional shares and now holds a total of 25,217 shares of Kirby Corporation which is valued at $1,359,953. Kirby Corporation makes up approx 0.01% of Fayez Sarofim Co’s portfolio.Advantus Capital Management Inc reduced its stake in KEX by selling 730 shares or 10.06% in the most recent quarter. The Hedge Fund company now holds 6,523 shares of KEX which is valued at $351,785. Kirby Corporation makes up approx 0.01% of Advantus Capital Management Inc’s portfolio. Security National Trust Co sold out all of its stake in KEX during the most recent quarter. The investment firm sold 50 shares of KEX which is valued $3,164.

Kirby Corporation closed down -0.2 points or -0.38% at $51.9 with 9,05,517 shares getting traded on Thursday. Post opening the session at $51.78, the shares hit an intraday low of $50.8 and an intraday high of $51.9999 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Kirby Corporation reported $0.72 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.70. The company had revenue of $441.58 million for the quarter, compared to analysts expectations of $454.76 million. The company’s revenue was down -18.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.04 EPS.

Many Wall Street Analysts have commented on Kirby Corporation. Kirby Corporation was Downgraded by Wells Fargo to ” Underperform” on Jul 25, 2016. Kirby Corporation was Downgraded by Credit Suisse to ” Neutral” on Jun 21, 2016.

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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