Assenagon Asset Management S.A. Purchases 66,526 Shares of Kirby Corporation $KEX

Key Points

• Assenagon Asset Management increased its Kirby Corp. stake by 30.9% in Q1, buying 66,526 shares and bringing its total holdings to 281,505 shares worth about $37.4 million.
• Kirby reported better-than-expected quarterly results, with EPS of $1.50 versus $1.41 estimated and revenue of $844.1 million, up 7.4% year over year. The company also issued FY2026 EPS guidance of 6.65 to 7.28.
• Analyst sentiment remains constructive, with six Buy ratings and one Hold and a consensus price target of $146.20. Meanwhile, several insiders sold shares recently, including VP Amy D. Husted and COO Christian G. O'neil.

Assenagon Asset Management S.A. lifted its holdings in Kirby Corporation (NYSE:KEX - Free Report) by 30.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 281,505 shares of the shipping company's stock after purchasing an additional 66,526 shares during the quarter. Assenagon Asset Management S.A. owned 0.53% of Kirby worth $37,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Fifth Third Bancorp raised its stake in Kirby by 18.2% during the 4th quarter. Fifth Third Bancorp now owns 739 shares of the shipping company's stock valued at $81,000 after buying an additional 114 shares during the last quarter. Xponance Inc. boosted its position in shares of Kirby by 1.8% in the third quarter. Xponance Inc. now owns 6,809 shares of the shipping company's stock worth $568,000 after purchasing an additional 118 shares during the period. Procyon Advisors LLC boosted its holdings in Kirby by 4.6% in the 4th quarter. Procyon Advisors LLC now owns 2,733 shares of the shipping company's stock worth $301,000 after buying an additional 121 shares during the period. M&T Bank Corp boosted its stake in shares of Kirby by 2.5% in the fourth quarter. M&T Bank Corp now owns 5,179 shares of the shipping company's stock worth $571,000 after acquiring an additional 125 shares during the period. Finally, Parallel Advisors LLC grew its holdings in Kirby by 50.0% during the 4th quarter. Parallel Advisors LLC now owns 402 shares of the shipping company's stock valued at $44,000 after buying an additional 134 shares in the last quarter. 96.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, VP Amy D. Husted sold 4,000 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $145.43, for a total value of $581,720.00. Following the completion of the transaction, the vice president directly owned 10,814 shares of the company's stock, valued at approximately $1,572,680.02. This represents a 27.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Christian G. O'neil sold 11,287 shares of the firm's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $145.93, for a total transaction of $1,647,111.91. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 17,691 shares of company stock worth $2,579,036. Corporate insiders own 0.80% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on KEX. Evercore restated an "outperform" rating and set a $158.00 price target on shares of Kirby in a report on Friday, May 1st. Weiss Ratings upgraded Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, May 29th. Zacks Research upgraded Kirby from a "strong sell" rating to a "hold" rating in a report on Friday, March 13th. Wall Street Zen upgraded Kirby from a "hold" rating to a "buy" rating in a research report on Saturday, June 13th. Finally, BTIG Research lifted their price objective on shares of Kirby from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $146.20.

Kirby Stock Performance

Shares of NYSE KEX opened at $136.76 on Friday. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 1.42 and a beta of 0.81. The company has a 50 day simple moving average of $143.81 and a two-hundred day simple moving average of $131.59. Kirby Corporation has a 12 month low of $79.51 and a 12 month high of $157.69. The company has a current ratio of 1.59, a quick ratio of 1.01 and a debt-to-equity ratio of 0.29.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The shipping company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.41 by $0.09. The company had revenue of $844.10 million for the quarter, compared to analyst estimates of $832.57 million. Kirby had a net margin of 10.51% and a return on equity of 10.62%. The firm's revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the business earned $1.33 earnings per share. Kirby has set its FY 2026 guidance at 6.650-7.280 EPS. As a group, analysts predict that Kirby Corporation will post 6.99 earnings per share for the current 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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