Arrowstreet Capital Limited Partnership Has $41.78 Million Stock Position in Kirby Corporation $KEX

Arrowstreet Capital Limited Partnership reduced its holdings in Kirby Corporation (NYSE:KEX - Free Report) by 10.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 314,458 shares of the shipping company's stock after selling 38,212 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.59% of Kirby worth $41,785,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in KEX. Caxton Associates LLP bought a new position in shares of Kirby during the 1st quarter worth approximately $395,000. Gibbs Wealth Management lifted its position in shares of Kirby by 64.1% during the 1st quarter. Gibbs Wealth Management now owns 7,331 shares of the shipping company's stock valued at $974,000 after acquiring an additional 2,864 shares during the period. Sei Investments Co. lifted its position in shares of Kirby by 246.4% during the 1st quarter. Sei Investments Co. now owns 221,757 shares of the shipping company's stock valued at $29,467,000 after acquiring an additional 157,735 shares during the period. State of Wyoming bought a new position in Kirby during the first quarter worth $458,000. Finally, Cetera Investment Advisers boosted its stake in Kirby by 13.1% during the first quarter. Cetera Investment Advisers now owns 12,145 shares of the shipping company's stock worth $1,614,000 after acquiring an additional 1,407 shares in the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KEX has been the subject of several research analyst reports. BTIG Research reaffirmed a "buy" rating and issued a $170.00 price target on shares of Kirby in a research note on Tuesday, July 14th. Bank of America raised their price objective on Kirby from $169.00 to $182.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. Weiss Ratings upgraded Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 17th. Citigroup upped their target price on Kirby from $160.00 to $165.00 and gave the stock a "buy" rating in a research report on Monday, July 13th. Finally, Wall Street Zen upgraded Kirby from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Kirby presently has a consensus rating of "Moderate Buy" and a consensus target price of $162.20.

Insider Buying and Selling

In related news, VP Amy D. Husted sold 4,000 shares of the business's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $145.43, for a total transaction of $581,720.00. Following the transaction, the vice president directly owned 10,814 shares in the company, valued at approximately $1,572,680.02. The trade was a 27.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP William Matthew Woodruff sold 678 shares of the company's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $147.37, for a total transaction of $99,916.86. Following the completion of the sale, the vice president directly owned 9 shares of the company's stock, valued at $1,326.33. The trade was a 98.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 17,691 shares of company stock worth $2,579,036. 0.80% of the stock is owned by corporate insiders.

Kirby Trading Up 0.5%

KEX opened at $145.77 on Wednesday. Kirby Corporation has a fifty-two week low of $79.51 and a fifty-two week high of $157.69. The firm has a market capitalization of $7.80 billion, a PE ratio of 22.43, a P/E/G ratio of 1.27 and a beta of 0.83. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.59 and a quick ratio of 1.01. The company's 50-day moving average is $141.47 and its 200 day moving average is $136.20.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The shipping company reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.09. The business had revenue of $844.10 million during the quarter, compared to the consensus estimate of $832.57 million. Kirby had a return on equity of 10.62% and a net margin of 10.51%.The company's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.33 EPS. Kirby has set its FY 2026 guidance at 6.650-7.280 EPS. As a group, research analysts predict that Kirby Corporation will post 7.06 earnings per share for the current fiscal year.

Kirby Profile

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America's largest fleets of inland tank barges and towing vessels. Kirby's fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby's Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.

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