Public Employees Retirement System of Ohio Invests $2.18 Million in Kirby Corporation $KEX

Public Employees Retirement System of Ohio purchased a new stake in shares of Kirby Corporation (NYSE:KEX) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 16,003 shares of the shipping company’s stock, valued at approximately $2,176,000.

Other large investors also recently bought and sold shares of the company. Capstone Investment Advisors LLC purchased a new stake in Kirby in the 2nd quarter worth approximately $800,000. Redwood Investment Management LLC purchased a new position in shares of Kirby during the 2nd quarter valued at approximately $1,172,000. Corient Private Wealth LP purchased a new position in shares of Kirby during the 2nd quarter valued at approximately $437,000. Bank of America Corp DE acquired a new position in shares of Kirby in the 2nd quarter valued at $62,549,000. Finally, Freestone Grove Partners LP acquired a new position in shares of Kirby in the 2nd quarter valued at $2,105,000. 96.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KEX has been the topic of several analyst reports. Wall Street Zen lowered shares of Kirby from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Bank of America upped 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. BTIG Research reissued a “buy” rating and set a $170.00 target price on shares of Kirby in a research note on Wednesday, July 29th. Citigroup raised their target price on Kirby from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Weiss Ratings lowered Kirby from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, August 31st. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $163.20.

Kirby Price Performance

Kirby stock opened at $140.51 on Monday. The company’s fifty day moving average price is $138.73 and its 200 day moving average price is $138.66. Kirby Corporation has a 1 year low of $79.51 and a 1 year high of $157.69. The stock has a market capitalization of $7.42 billion, a P/E ratio of 21.62, a P/E/G ratio of 1.26 and a beta of 0.86. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.12 and a current ratio of 1.68.

Kirby (NYSE:KEX) last issued its quarterly earnings results on Wednesday, July 29th. The shipping company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.63 by $0.04. The company 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 firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.67 EPS. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. As a group, equities research analysts anticipate that Kirby Corporation will post 7.11 earnings per share for the current fiscal year.

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.