First Mercantile Trust Co buys $1,220,687 stake in Kirby Corporation (KEX)

Kirby Corporation (KEX) : First Mercantile Trust Co scooped up 1,962 additional shares in Kirby Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 7, 2016. The investment management firm now holds a total of 20,087 shares of Kirby Corporation which is valued at $1,220,687.Kirby Corporation makes up approximately 0.16% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in KEX by selling 16,722 shares or 76.78% in the most recent quarter. The Hedge Fund company now holds 5,056 shares of KEX which is valued at $312,916.Independent Portfolio Consultants boosted its stake in KEX in the latest quarter, The investment management firm added 125 additional shares and now holds a total of 2,625 shares of Kirby Corporation which is valued at $162,461. Kirby Corporation makes up approx 0.05% of Independent Portfolio Consultants’s portfolio.Norman Fields Gottscho Capital Management boosted its stake in KEX in the latest quarter, The investment management firm added 9,280 additional shares and now holds a total of 18,755 shares of Kirby Corporation which is valued at $1,160,747. Kirby Corporation makes up approx 0.77% of Norman Fields Gottscho Capital Management’s portfolio.

Kirby Corporation closed down -1.04 points or -1.68% at $60.77 with 5,25,592 shares getting traded on Friday. Post opening the session at $61.65, the shares hit an intraday low of $60.39 and an intraday high of $62.01 and the price fluctuated in this range throughout the day.Shares ended Friday 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. Company shares were Reiterated by Stifel on Sep 28, 2016 to “Hold”, Firm has raised the Price Target to $ 54 from a previous price target of $50 .Company shares were Upgraded by RBC Capital Mkts on Sep 20, 2016 to ” Outperform”, Firm has raised the Price Target to $ 68 from a previous price target of $55 .Kirby Corporation was Downgraded by Wells Fargo to ” Underperform” on Jul 25, 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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