Luminus Management recently bought 87,120 shares of Kirby Corporation (KEX) in a transaction worth approximately $8.8 million, according to a filing with the Securities and Exchange Commission on October 3rd.
What happened
Luminus Management recently increased its investment in Kirby Corporation, adding over 87,000 shares during the third quarter of 2025. This trade was worth approximately $8.75 million, calculated using the average share price for that period. As of September 30, 2025, Luminus Management now holds a total of 116,956 shares in Kirby Corporation, with a current value of $9.8 million.
What else to know
As a stock market follower, I’ve been watching Luminus Management, and it’s interesting to see they’ve increased their position in Kirby. As of September 30, 2025, Kirby now makes up 8.8% of Luminus’s total assets under management – a pretty significant chunk, if you ask me!
Top holdings after the filing are:
- NYSE:CC: $27.96 million (25.1% of AUM) as of September 30, 2025
- NYSE:OI: $26.53 million (23.8% of AUM) as of September 30, 2025
- NYSE:SEE: $17.65 million (15.9% of AUM) as of September 30, 2025
- NYSE:KEX: $9.76 million (8.8% of AUM) as of September 30, 2025
- NYSE:KWR: $7.97 million (7.1603% of AUM) as of September 30, 2025
On October 2, 2025, Kirby stock was trading at $83.71, which was 31.8% lower than it was a year ago. Over the past year, the stock performed significantly worse than the S&P 500, lagging behind by 49.3 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close 2025-10-02) | $83.71 |
| Market Capitalization | $4.63 billion |
| Revenue (TTM) | $3.27 billion |
| Net Income (TTM) | $303.05 million |
Company Snapshot
Kirby Corporation is a major U.S. company specializing in marine shipping and related services. They are a leader in transporting goods by tank barge and distributing industrial equipment. Kirby combines a large fleet of vessels with specialized technical skills to reliably support the supply chains of energy and industrial businesses across the country. Their wide range of services and extensive national network give them a strong advantage in providing dependable and widespread operations.
Kirby specializes in shipping large quantities of liquid products like petrochemicals, crude oil, refined fuels, and agricultural chemicals. They also provide ongoing support, including parts and equipment, for engines, power systems, and oilfield machinery.
As an investor, I see this company makes money in two main ways. First, they operate barges and provide towing services on rivers, coasts, and inland waterways across the U.S. Second, they distribute, service, and even manufacture specialized equipment used in the industrial and energy sectors.
Kirby provides services to businesses in industries like petrochemicals, oil refining, and agriculture, as well as to various branches of the U.S. government.
Foolish take
As a portfolio manager at Luminus Management, I focus my investments on the energy and chemical industries. That’s why we’ve taken a position in the Kirby Corporation – they’re a key player in moving materials for those very sectors, specializing in marine transportation of energy and petrochemical products.
Luminus Investment Company has significantly increased its investment in Kirby. They previously owned fewer than 30,000 shares, but now hold over 116,000, suggesting they expect the stock price to rise. This increase comes after Kirby shares have fallen more than 30% over the past year and are currently trading near their lowest price in 52 weeks, as of October 10th.
It’s not surprising that the company’s stock price has fallen. Kirby’s sales were essentially unchanged in the first half of 2025, remaining at $1.6 billion – the same as in 2024. Tough winter weather and worries about trade policies reduced the need for their services, leading to weak sales figures.
Kirby’s management team is predicting a 15% to 25% increase in profits by the end of 2025 compared to the previous year. They’ve already seen about a 10% increase in profits in the first half of the year. However, if they don’t meet their profit goal, the company’s stock price could fall even further. While the recent drop in share price might seem like a good time to buy, given Kirby’s strong position in marine transportation, there’s still some risk involved.
Glossary
Here are definitions of key terms:
13F Reportable AUM: The total value of investments that large institutional investors are required to report to the SEC each quarter.
AUM (Assets Under Management): The overall market value of all investments a financial firm manages for its clients.
Quarterly Average Price: The average price of a stock or other security over a three-month period, used to estimate the value of trades.
Post-Trade Position: The total amount of a specific security a firm holds after completing a purchase or sale.
Filing: An official document submitted to a regulatory body like the SEC, detailing financial or operational information.
Tank Barge Transportation: Moving large quantities of liquid cargo via flat-bottomed boats on rivers, canals, and coastal waters.
Distribution: The process of selling and delivering products, parts, or equipment to customers.
After-Market Services: Support, maintenance, and replacement parts offered for equipment after the initial sale.
Integrated Business Model: A business strategy where a company manages multiple steps in its supply chain or service delivery.
National Footprint: A company’s presence and operations across many regions or throughout the entire country.
TTM (Trailing Twelve Months): The period covering the last 12 months, ending with the most recent quarterly report.
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2025-10-12 01:18