Assenagon Asset Management S.A. Reduces Position in Kirby Corporation $KEX

Key Points

• Assenagon Asset Management reduced its Kirby stake by 4% in the second quarter, selling 11,129 shares and retaining 270,376 shares valued at approximately $36.8 million. Institutional investors collectively own 96.15% of Kirby’s stock.
• Kirby exceeded quarterly expectations, reporting $1.67 in EPS versus a $1.63 estimate and $922.4 million in revenue, up 7.8% year over year. The company reaffirmed fiscal 2026 EPS guidance of $7.28.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $163.20, although two firms recently downgraded the stock to “Hold.” Kirby shares opened at $131.34, below the consensus target.

Assenagon Asset Management S.A. trimmed its position in shares of Kirby Corporation (NYSE:KEX - Free Report) by 4.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 270,376 shares of the shipping company's stock after selling 11,129 shares during the period. Assenagon Asset Management S.A. owned about 0.51% of Kirby worth $36,763,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rothschild Investment LLC boosted its position in shares of Kirby by 2,600.0% during the fourth quarter. Rothschild Investment LLC now owns 270 shares of the shipping company's stock valued at $30,000 after buying an additional 260 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Kirby by 537.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 306 shares of the shipping company's stock worth $34,000 after buying an additional 258 shares during the period. Parallel Advisors LLC raised its holdings in shares of Kirby by 50.0% in the fourth quarter. Parallel Advisors LLC now owns 402 shares of the shipping company's stock worth $44,000 after buying an additional 134 shares during the period. Root Financial Partners LLC raised its holdings in shares of Kirby by 182.9% in the first quarter. Root Financial Partners LLC now owns 430 shares of the shipping company's stock worth $57,000 after buying an additional 278 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Kirby by 18.2% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 520 shares of the shipping company's stock worth $69,000 after acquiring an additional 80 shares during the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

Kirby Stock Performance

Kirby stock opened at $131.34 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.68. The company has a market capitalization of $7.03 billion, a PE ratio of 20.21, a P/E/G ratio of 1.15 and a beta of 0.84. The company has a 50 day moving average price of $139.54 and a 200-day moving average price of $136.48. Kirby Corporation has a fifty-two week low of $79.51 and a fifty-two week high of $157.69.

Kirby (NYSE:KEX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The shipping company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.04. The company had revenue of $922.40 million for the quarter, compared to analysts' expectations of $870.38 million. Kirby had a return on equity of 10.44% and a net margin of 10.18%.Kirby's revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.67 earnings per share. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. As a group, equities analysts forecast that Kirby Corporation will post 7.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP William Matthew Woodruff sold 678 shares of the firm's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $147.37, for a total transaction of $99,916.86. Following the transaction, the vice president owned 9 shares in the company, valued at approximately $1,326.33. This trade represents a 98.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Amy D. Husted sold 4,000 shares of the firm's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $145.43, for a total value of $581,720.00. Following the transaction, the vice president owned 10,814 shares in the company, valued at approximately $1,572,680.02. This represents a 27.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 15,965 shares of company stock worth $2,328,749. 0.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Citigroup boosted their price objective on Kirby from $165.00 to $170.00 and gave the company a "buy" rating in a report on Friday, July 31st. BTIG Research reiterated a "buy" rating and issued a $170.00 target price on shares of Kirby in a research note on Wednesday, July 29th. Bank of America lifted their target price on Kirby from $169.00 to $182.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Weiss Ratings lowered shares of Kirby from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, August 3rd. Finally, Wall Street Zen cut shares of Kirby from a "buy" rating to a "hold" rating in a report on Saturday. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $163.20.

Kirby Company 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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