Skylands Capital LLC Sells 58,503 Shares of Kirby Corporation $KEX

Key Points

• Skylands Capital LLC cut its Kirby Corporation stake by 56% in the first quarter, selling 58,503 shares and leaving it with 45,930 shares valued at about $6.1 million.
• Kirby posted stronger-than-expected quarterly results, reporting $1.50 EPS versus the $1.41 estimate and revenue of $844.1 million, up 7.4% year over year.
• Analysts remain broadly positive on KEX, with six Buy ratings and one Hold; the consensus rating is Moderate Buy and the average price target is $146.20.

Skylands Capital LLC lowered its stake in Kirby Corporation (NYSE:KEX - Free Report) by 56.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,930 shares of the shipping company's stock after selling 58,503 shares during the period. Skylands Capital LLC owned 0.09% of Kirby worth $6,103,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KEX. Maseco LLP bought a new position in shares of Kirby in the 4th quarter valued at $27,000. Rothschild Investment LLC grew its position in Kirby by 2,600.0% during the 4th quarter. Rothschild Investment LLC now owns 270 shares of the shipping company's stock worth $30,000 after acquiring an additional 260 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Kirby by 537.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 306 shares of the shipping company's stock worth $34,000 after acquiring an additional 258 shares during the last quarter. Parallel Advisors LLC increased its holdings in Kirby by 50.0% in the 4th quarter. Parallel Advisors LLC now owns 402 shares of the shipping company's stock worth $44,000 after purchasing an additional 134 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in Kirby by 57.8% in the 4th quarter. UMB Bank n.a. now owns 636 shares of the shipping company's stock worth $70,000 after purchasing an additional 233 shares in the last quarter. Institutional investors own 96.15% of the company's stock.

Kirby Stock Performance

NYSE KEX opened at $136.76 on Friday. The company has a market capitalization of $7.32 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 1.40 and a beta of 0.81. The company has a quick ratio of 1.01, a current ratio of 1.59 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 stock has a fifty day simple moving average of $143.81 and a 200 day simple moving average of $131.59.

Kirby (NYSE:KEX - Get Free Report) last announced its earnings results on Thursday, April 30th. The shipping company reported $1.50 EPS for the quarter, topping 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 firm had revenue of $844.10 million for the quarter, compared to the consensus estimate of $832.57 million. During the same period in the previous year, the business earned $1.33 EPS. The business's quarterly revenue was up 7.4% compared to the same quarter last year. Kirby has set its FY 2026 guidance at 6.650-7.280 EPS. Sell-side analysts expect that Kirby Corporation will post 6.99 EPS for the current year.

Insider Buying and Selling

In other Kirby news, VP Amy D. Husted sold 4,000 shares of the stock in a transaction that occurred 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 sale, the vice president owned 10,814 shares of the company's stock, valued at approximately $1,572,680.02. This represents a 27.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Christian G. O'neil sold 11,287 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $145.93, for a total transaction of $1,647,111.91. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,691 shares of company stock valued at $2,579,036 over the last three months. 0.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KEX. Zacks Research raised Kirby from a "strong sell" rating to a "hold" rating in a research note on Friday, March 13th. Wall Street Zen raised Kirby from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Weiss Ratings upgraded shares of Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, May 29th. BTIG Research lifted their target price on shares of Kirby from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Finally, Evercore reiterated an "outperform" rating and set a $158.00 target price on shares of Kirby in a research report on Friday, May 1st. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Kirby presently has a consensus rating of "Moderate Buy" and an average target price of $146.20.

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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