Core Insights - Luminus Management has increased its stake in Kirby Corporation by purchasing 87,120 shares, valued at approximately $8.75 million, as disclosed in an SEC filing on October 3, 2025 [1][2] - Following this transaction, Luminus Management holds a total of 116,956 shares in Kirby, valued at $9.8 million as of September 30, 2025 [2] - Kirby Corporation's stock now represents 8.8% of Luminus Management's reported assets under management (AUM) [3] Company Overview - Kirby Corporation is a prominent U.S. marine shipping and services company, specializing in tank barge transportation and industrial equipment distribution [5] - The company operates a large fleet and utilizes technical expertise to support critical supply chains for energy and industrial customers [5] - Kirby generates revenue through barge and towing operations across U.S. inland and coastal waterways, as well as through the distribution, servicing, and manufacturing of specialized industrial and energy equipment [8] Financial Metrics - As of October 2, 2025, Kirby's share price was $83.71, reflecting a 31.8% decline over the past year, significantly underperforming the S&P 500 by 49.3 percentage points [3][4] - Kirby's market capitalization stands at $4.63 billion, with a trailing twelve months (TTM) revenue of $3.27 billion and a TTM net income of $303.05 million [4] Recent Performance and Outlook - Kirby's sales for the first half of 2025 were flat at $1.6 billion compared to 2024, impacted by harsh winter weather and an uncertain macroeconomic environment [12] - Despite the challenges, Kirby management anticipates a year-over-year earnings increase of 15% to 25% by the end of 2025, with net earnings up around 10% through two quarters [13] - The recent decline in share price may present a buying opportunity, given Kirby's leadership in marine transport, although there are risks associated with the investment [11][13]