Atlantic Investment Management Inc. Takes $24.57 Million Position in Kirby Corporation $KEX

Atlantic Investment Management Inc. bought a new position in Kirby Corporation (NYSE:KEX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 223,000 shares of the shipping company's stock, valued at approximately $24,570,000. Kirby comprises approximately 13.8% of Atlantic Investment Management Inc.'s holdings, making the stock its 2nd biggest holding. Atlantic Investment Management Inc. owned 0.41% of Kirby as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of KEX. Maseco LLP bought a new stake in Kirby in the 4th quarter worth approximately $27,000. Rothschild Investment LLC increased its stake 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 increased its stake in shares of Kirby by 537.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 306 shares of the shipping company's stock valued at $34,000 after buying an additional 258 shares during the period. Parallel Advisors LLC increased its stake in shares of Kirby by 50.0% during the fourth quarter. Parallel Advisors LLC now owns 402 shares of the shipping company's stock valued at $44,000 after buying an additional 134 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in Kirby in the third quarter worth $56,000. Institutional investors own 96.15% of the company's stock.

Kirby Price Performance

Shares of Kirby stock opened at $140.43 on Thursday. The stock has a 50 day moving average of $144.16 and a 200 day moving average of $130.44. Kirby Corporation has a 12 month low of $79.51 and a 12 month high of $157.69. The firm has a market cap of $7.51 billion, a PE ratio of 21.60, a PEG ratio of 1.45 and a beta of 0.81. 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 announced its quarterly earnings results on Thursday, April 30th. The shipping company reported $1.50 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.09. The company had revenue of $844.10 million during the quarter, compared to analyst estimates of $832.57 million. Kirby had a return on equity of 10.62% and a net margin of 10.51%.The firm's revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.33 earnings per share. Kirby has set its FY 2026 guidance at 6.650-7.280 EPS. On average, research analysts expect that Kirby Corporation will post 6.99 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on KEX shares. Wall Street Zen raised Kirby from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Weiss Ratings raised 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 research report on Friday, March 13th. Evercore reiterated an "outperform" rating and set a $158.00 price objective on shares of Kirby in a research report on Friday, May 1st. Finally, BTIG Research upped their price target on Kirby from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $146.20.

Insider Buying and Selling

In related news, VP Amy D. Husted sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $145.43, for a total transaction of $581,720.00. Following the completion of the sale, the vice president directly owned 10,814 shares of the company's stock, valued at approximately $1,572,680.02. This trade represents a 27.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ronald A. Dragg sold 1,726 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $145.01, for a total value of $250,287.26. Following the sale, the vice president directly owned 8,673 shares of the company's stock, valued at $1,257,671.73. This represents a 16.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 17,691 shares of company stock valued at $2,579,036 over the last quarter. Company insiders own 0.80% of the company's stock.

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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