Hodges Capital Management Inc. Sells 33,217 Shares of Kirby Corporation $KEX

Key Points

• Hodges Capital Management cut its Kirby position by 31.7% in the first quarter, selling 33,217 shares and leaving it with 71,704 shares valued at about $9.53 million.
• Several insiders and institutions also reduced or adjusted their Kirby holdings, including vice presidents Ronald A. Dragg and Amy D. Husted, who sold shares in May.
• Kirby reported better-than-expected quarterly results, with EPS of $1.50 versus estimates of $1.41 and revenue of $844.1 million, while analysts currently rate the stock a “Moderate Buy.”

Hodges Capital Management Inc. reduced its position in shares of Kirby Corporation (NYSE:KEX - Free Report) by 31.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,704 shares of the shipping company's stock after selling 33,217 shares during the period. Hodges Capital Management Inc. owned about 0.13% of Kirby worth $9,528,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of KEX. Stephens Inc. AR lifted its stake in Kirby by 15.3% in the 1st quarter. Stephens Inc. AR now owns 13,780 shares of the shipping company's stock valued at $1,831,000 after acquiring an additional 1,825 shares in the last quarter. HB Wealth Management LLC acquired a new stake in shares of Kirby in the first quarter valued at approximately $384,000. Optas LLC acquired a new stake in shares of Kirby in the first quarter valued at approximately $269,000. Strs Ohio lifted its position in shares of Kirby by 4,237.3% in the first quarter. Strs Ohio now owns 57,990 shares of the shipping company's stock worth $7,706,000 after purchasing an additional 56,653 shares in the last quarter. Finally, Root Financial Partners LLC lifted its position 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 purchasing an additional 278 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company's stock.

Insiders Place Their Bets

In other Kirby news, VP Ronald A. Dragg sold 1,726 shares of the firm's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $145.01, for a total transaction of $250,287.26. Following the completion of the sale, the vice president owned 8,673 shares of the company's stock, valued at $1,257,671.73. This trade represents a 16.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Amy D. Husted sold 4,000 shares of the 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 completion of the transaction, the vice president directly owned 10,814 shares in the company, valued at $1,572,680.02. The trade was a 27.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 17,691 shares of company stock valued at $2,579,036. Corporate insiders own 0.80% of the company's stock.

Kirby Stock Performance

NYSE KEX opened at $129.99 on Monday. The company has a current ratio of 1.59, a quick ratio of 1.01 and a debt-to-equity ratio of 0.29. The firm's fifty day moving average price is $142.67 and its two-hundred day moving average price is $132.47. Kirby Corporation has a 1 year low of $79.51 and a 1 year high of $157.69. The firm has a market capitalization of $6.95 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 1.33 and a beta of 0.83.

Kirby (NYSE:KEX - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate of $832.57 million. Kirby had a net margin of 10.51% and a return on equity of 10.62%. The company's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.33 EPS. Kirby has set its FY 2026 guidance at 6.650-7.280 EPS. As a group, research analysts anticipate that Kirby Corporation will post 6.99 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on KEX. Wall Street Zen raised shares of Kirby from a "hold" rating to a "buy" rating in a research report on Saturday, June 13th. Zacks Research raised shares of Kirby from a "strong sell" rating to a "hold" rating in a research report on Friday, March 13th. Citigroup increased their price objective on shares of Kirby from $147.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, April 9th. Weiss Ratings cut Kirby from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday. Finally, BTIG Research lifted their target price on Kirby from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $146.20.

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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