Redwood Investment Management LLC Acquires New Shares in Kirby Corporation $KEX

Key Points

• Redwood Investment Management acquired 8,621 Kirby shares in the second quarter, valued at approximately $1.17 million. Institutional investors collectively own 96.15% of the company.
• Kirby exceeded quarterly expectations, reporting $1.67 in EPS versus the $1.63 consensus and revenue of $922.4 million, up 7.8% year over year.
• Analysts maintain a generally positive outlook, with six Buy ratings and one Hold rating; the stock has a “Moderate Buy” consensus and a $163.20 average price target versus its recent $139.26 price.

Redwood Investment Management LLC acquired a new position in Kirby Corporation (NYSE:KEX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 8,621 shares of the shipping company's stock, valued at approximately $1,172,000.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Kirby during the 2nd quarter valued at about $733,274,000. Goldman Sachs Group Inc. raised its holdings in shares of Kirby by 92.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,612,119 shares of the shipping company's stock valued at $287,803,000 after purchasing an additional 1,251,700 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Kirby by 109.4% during the fourth quarter. First Trust Advisors LP now owns 2,256,667 shares of the shipping company's stock valued at $248,640,000 after purchasing an additional 1,178,963 shares during the last quarter. Alliancebernstein L.P. lifted its position in Kirby by 72.5% during the second quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company's stock valued at $258,900,000 after purchasing an additional 959,209 shares during the period. Finally, Norges Bank bought a new position in Kirby during the fourth quarter valued at approximately $81,355,000. Hedge funds and other institutional investors own 96.15% of the company's stock.

Kirby Price Performance

Shares of NYSE:KEX opened at $139.26 on Thursday. The company has a market capitalization of $7.35 billion, a P/E ratio of 21.42, a P/E/G ratio of 1.24 and a beta of 0.84. Kirby Corporation has a 1-year low of $79.51 and a 1-year high of $157.69. The firm's 50 day simple moving average is $138.44 and its two-hundred day simple moving average is $137.75. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.68 and a quick ratio of 1.12.

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 analysts' consensus estimates of $1.63 by $0.04. The firm had revenue of $922.40 million during the quarter, compared to analysts' expectations of $870.38 million. Kirby had a net margin of 10.18% and a return on equity of 10.44%. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.67 earnings per share. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. Research analysts expect that Kirby Corporation will post 7.07 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on KEX shares. Wall Street Zen downgraded shares of Kirby from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Citigroup increased their price target on Kirby from $165.00 to $170.00 and gave the company a "buy" rating in a report on Friday, July 31st. Weiss Ratings upgraded Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 17th. Bank of America lifted their price objective on Kirby from $169.00 to $182.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Finally, BTIG Research reiterated a "buy" rating and set a $170.00 price objective on shares of Kirby in a research report on Wednesday, July 29th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $163.20.

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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