Algert Global LLC trimmed its stake in Kirby Corporation (NYSE:KEX - Free Report) by 29.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 135,905 shares of the shipping company's stock after selling 56,765 shares during the quarter. Algert Global LLC owned approximately 0.26% of Kirby worth $18,479,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. King Luther Capital Management Corp boosted its holdings in shares of Kirby by 3.0% in the fourth quarter. King Luther Capital Management Corp now owns 1,617,100 shares of the shipping company's stock worth $178,172,000 after buying an additional 47,099 shares during the period. Mountaineer Partners Management LLC raised its stake in Kirby by 33.6% during the 4th quarter. Mountaineer Partners Management LLC now owns 87,444 shares of the shipping company's stock valued at $9,635,000 after purchasing an additional 22,013 shares during the period. Strs Ohio raised its stake in Kirby by 4,237.3% during the 1st quarter. Strs Ohio now owns 57,990 shares of the shipping company's stock valued at $7,706,000 after purchasing an additional 56,653 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of Kirby in the second quarter valued at $9,182,000. Finally, Norges Bank purchased a new stake in shares of Kirby in the fourth quarter valued at $81,355,000. 96.15% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on KEX. Wall Street Zen downgraded 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 research note on Monday, August 17th. Bank of America raised their price objective on Kirby from $169.00 to $182.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. BTIG Research reaffirmed a "buy" rating and set a $170.00 target price on shares of Kirby in a research note on Wednesday, July 29th. Finally, Evercore reiterated an "outperform" rating and issued a $158.00 target price on shares of Kirby in a report on Friday, May 1st. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $163.20.
Read Our Latest Research Report on KEX
Kirby Price Performance
Shares of NYSE:KEX opened at $138.75 on Tuesday. The company has a current ratio of 1.68, a quick ratio of 1.12 and a debt-to-equity ratio of 0.30. Kirby Corporation has a 1 year low of $79.51 and a 1 year high of $157.69. The business has a fifty day simple moving average of $138.55 and a 200 day simple moving average of $137.49. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of 21.35, a P/E/G ratio of 1.26 and a beta of 0.84.
Kirby (NYSE:KEX - Get Free Report) last issued its earnings results on Wednesday, July 29th. The shipping company reported $1.67 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.04. Kirby had a return on equity of 10.44% and a net margin of 10.18%.The firm had revenue of $922.40 million for the quarter, compared to the consensus estimate of $870.38 million. During the same quarter in the previous year, the company posted $1.67 earnings per share. The business's quarterly 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. As a group, sell-side analysts predict that Kirby Corporation will post 7.07 earnings per share for the current fiscal year.
About Kirby
(
Free Report)
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.
Read More
Want to see what other hedge funds are holding KEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kirby Corporation (NYSE:KEX - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Kirby, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kirby wasn't on the list.
While Kirby currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI wave will soon hit public markets with Anthropic and OpenAI set to go public later this year. However, you don't have to wait to invest. This report shows seven AI stocks that you can buy today while the big model providers get ready to go public.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
