The Manufacturers Life Insurance Company Takes $5.19 Million Position in Kirby Corporation $KEX

The Manufacturers Life Insurance Company purchased a new position in shares of Kirby Corporation (NYSE:KEX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 38,147 shares of the shipping company’s stock, valued at approximately $5,187,000.

Other large investors also recently modified their holdings of the company. Fifth Third Wealth Advisors LLC grew its stake in shares of Kirby by 4.2% during the first quarter. Fifth Third Wealth Advisors LLC now owns 1,917 shares of the shipping company’s stock worth $255,000 after purchasing an additional 77 shares in the last quarter. Procyon Advisors LLC boosted its position in shares of Kirby by 2.9% during the 1st quarter. Procyon Advisors LLC now owns 2,811 shares of the shipping company’s stock worth $374,000 after acquiring an additional 78 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Kirby by 18.2% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 520 shares of the shipping company’s stock valued at $69,000 after acquiring an additional 80 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Kirby by 18.2% in the 4th quarter. Fifth Third Bancorp now owns 739 shares of the shipping company’s stock valued at $81,000 after acquiring an additional 114 shares during the last quarter. Finally, M&T Bank Corp raised its position in shares of Kirby by 2.5% during the 4th quarter. M&T Bank Corp now owns 5,179 shares of the shipping company’s stock worth $571,000 after acquiring an additional 125 shares in the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

Kirby Trading Up 1.9%

Shares of Kirby stock opened at $141.73 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.12 and a current ratio of 1.68. The company has a market capitalization of $7.48 billion, a P/E ratio of 21.80, a PEG ratio of 1.25 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 company’s fifty day moving average is $138.42 and its two-hundred day moving average is $138.15.

Kirby (NYSE:KEX) last announced 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 net margin of 10.18% and a return on equity of 10.44%. The business had revenue of $922.40 million during the quarter, compared to analysts’ expectations of $870.38 million. During the same period in the prior year, the company earned $1.67 earnings per share. The business’s 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. Analysts forecast that Kirby Corporation will post 7.07 earnings per share for the current year.

Analysts Set New Price Targets

KEX has been the subject of several recent analyst reports. Weiss Ratings upgraded Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 17th. BTIG Research reissued a “buy” rating and set a $170.00 price objective on shares of Kirby in a report on Wednesday, July 29th. Bank of America boosted their price objective on shares of Kirby from $169.00 to $182.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Wall Street Zen cut shares of Kirby from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Citigroup upped their target price on shares of Kirby from $165.00 to $170.00 and gave the company a “buy” rating in a report on Friday, July 31st. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.20.

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.