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

The Manufacturers Life Insurance Company purchased a new position in shares of Kirby Corporation (NYSE:KEX) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 38,147 shares of the shipping company’s stock, valued at approximately $5,187,000. The Manufacturers Life Insurance Company owned about 0.07% of Kirby at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new stake in shares of Kirby in the second quarter valued at approximately $1,728,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Kirby during the 2nd quarter valued at about $18,918,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Kirby in the second quarter valued at about $69,359,000. Kendall Capital Management purchased a new stake in shares of Kirby in the second quarter valued at about $231,000. Finally, Commerce Bank acquired a new stake in Kirby during the second quarter worth about $467,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Analysts Set New Price Targets

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

Kirby Stock Up 1.9%

Shares of NYSE:KEX opened at $141.73 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.68 and a quick ratio of 1.12. The firm has a market capitalization of $7.48 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 1.25 and a beta of 0.84. The firm’s 50-day moving average is $138.42 and its two-hundred day moving average is $138.15. Kirby Corporation has a 1 year low of $79.51 and a 1 year high of $157.69.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Wednesday, July 29th. The shipping company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.63 by $0.04. The business had revenue of $922.40 million during the quarter, compared to analyst estimates of $870.38 million. Kirby had a net margin of 10.18% and a return on equity of 10.44%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.67 earnings per share. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. Analysts predict that Kirby Corporation will post 7.07 EPS for the current year.

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.