Kirby Corporation $KEX Shares Purchased by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp sharply increased its stake in Kirby Corporation, boosting holdings by 6,646% in the first quarter to 49,853 shares valued at about $6.6 million.
• Kirby reported better-than-expected quarterly results, posting EPS of $1.50 versus estimates of $1.41 and revenue of $844.1 million, up 7.4% year over year.
• Analysts remain generally positive on the stock, with five Buy ratings and two Hold ratings and a consensus price target of $162.20, while insiders have also been selling shares recently.

Fifth Third Bancorp raised its holdings in shares of Kirby Corporation (NYSE:KEX - Free Report) by 6,646.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,853 shares of the shipping company's stock after acquiring an additional 49,114 shares during the quarter. Fifth Third Bancorp owned approximately 0.09% of Kirby worth $6,624,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of KEX. Oregon Public Employees Retirement Fund lifted its stake in Kirby by 2.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 11,107 shares of the shipping company's stock valued at $1,476,000 after buying an additional 300 shares in the last quarter. Quantum Portfolio Management LLC acquired a new position in shares of Kirby in the first quarter worth $464,000. Burney Co. acquired a new position in shares of Kirby in the first quarter worth $772,000. Stephens Inc. AR raised its holdings in shares of Kirby by 15.3% in the first quarter. Stephens Inc. AR now owns 13,780 shares of the shipping company's stock worth $1,831,000 after acquiring an additional 1,825 shares during the last quarter. Finally, HB Wealth Management LLC purchased a new stake in shares of Kirby in the first quarter valued at $384,000. Hedge funds and other institutional investors own 96.15% of the company's stock.

Kirby Stock Performance

NYSE KEX opened at $143.38 on Friday. The business's 50-day moving average price is $141.27 and its 200 day moving average price is $134.37. 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 Corporation has a twelve month low of $79.51 and a twelve month high of $157.69. The company has a market capitalization of $7.67 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 1.25 and a beta of 0.83.

Kirby (NYSE:KEX - Get Free Report) last posted 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. Kirby had a return on equity of 10.62% and a net margin of 10.51%.The company had revenue of $844.10 million during the quarter, compared to analysts' expectations of $832.57 million. During the same quarter in the previous year, the business earned $1.33 EPS. The firm's revenue was up 7.4% on a year-over-year basis. Kirby has set its FY 2026 guidance at 6.650-7.280 EPS. On average, research analysts predict that Kirby Corporation will post 7.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

KEX has been the subject of a number of recent research reports. BTIG Research reiterated a "buy" rating and set a $170.00 price objective on shares of Kirby in a research report on Tuesday. Wall Street Zen raised shares of Kirby from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Evercore reiterated an "outperform" rating and set a $158.00 price target on shares of Kirby in a report on Friday, May 1st. Weiss Ratings lowered shares of Kirby from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, July 1st. Finally, Citigroup upped their price objective on shares of Kirby from $160.00 to $165.00 and gave the company a "buy" rating in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $162.20.

Insider Activity at Kirby

In other Kirby news, VP William Matthew Woodruff sold 678 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were 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 of the company's stock, valued at $1,326.33. This trade represents a 98.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Amy D. Husted sold 4,000 shares of Kirby stock in a transaction on 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 owned 10,814 shares in the company, valued at approximately $1,572,680.02. This trade represents a 27.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 17,691 shares of company stock valued at $2,579,036 in the last ninety days. 0.80% of the stock is owned by company insiders.

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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