Freestone Grove Partners LP Invests $2.10 Million in Kirby Corporation $KEX

Key Points

• Freestone Grove Partners purchased 15,480 Kirby shares worth approximately $2.1 million during the second quarter. Institutional investors collectively own 96.15% of the company.
• Analyst sentiment remains positive, with six Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and average price target of $163.20.
• Kirby’s latest quarterly results exceeded expectations, reporting $1.67 in EPS versus the $1.63 estimate and revenue of $922.4 million, up 7.8% year over year.

Freestone Grove Partners LP purchased a new stake in shares of Kirby Corporation (NYSE:KEX - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,480 shares of the shipping company's stock, valued at approximately $2,105,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fifth Third Wealth Advisors LLC lifted its holdings in Kirby by 4.2% in the first quarter. Fifth Third Wealth Advisors LLC now owns 1,917 shares of the shipping company's stock worth $255,000 after purchasing an additional 77 shares during the period. Procyon Advisors LLC increased its stake in Kirby by 2.9% during the 1st quarter. Procyon Advisors LLC now owns 2,811 shares of the shipping company's stock valued at $374,000 after buying an additional 78 shares during the period. Annis Gardner Whiting Capital Advisors LLC raised its position 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 buying an additional 80 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Kirby by 18.2% during the 4th quarter. Fifth Third Bancorp now owns 739 shares of the shipping company's stock worth $81,000 after buying an additional 114 shares in the last quarter. Finally, M&T Bank Corp lifted its stake in shares of Kirby by 2.5% in the 4th 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. 96.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on KEX. Wall Street Zen cut shares of Kirby from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings raised Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, August 17th. BTIG Research restated a "buy" rating and issued a $170.00 target price on shares of Kirby in a research report on Wednesday, July 29th. Bank of America increased their price target on Kirby from $169.00 to $182.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. Finally, Citigroup lifted their price target on Kirby from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Six 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 has a consensus rating of "Moderate Buy" and a consensus target price of $163.20.

Kirby Stock Performance

NYSE:KEX opened at $139.02 on Friday. Kirby Corporation has a twelve month low of $79.51 and a twelve month high of $157.69. The company has a current ratio of 1.68, a quick ratio of 1.12 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average of $138.41 and a 200-day moving average of $137.88. The firm has a market cap of $7.34 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 1.26 and a beta of 0.84.

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. Kirby had a net margin of 10.18% and a return on equity of 10.44%. The company had revenue of $922.40 million for the quarter, compared to analysts' expectations of $870.38 million. During the same quarter in the previous year, the company posted $1.67 EPS. The business's revenue was up 7.8% compared to the same quarter last year. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. Analysts forecast that Kirby Corporation will post 7.07 earnings per share for the current fiscal year.

About Kirby

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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