Westpac Banking Corp Buys 10,560 Shares of Kirby Co. (KEX)

Westpac Banking Corp boosted its stake in shares of Kirby Co. (NYSE:KEX) by 18.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,423 shares of the shipping company’s stock after acquiring an additional 10,560 shares during the quarter. Westpac Banking Corp owned about 0.11% of Kirby worth $4,437,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Atlanta Capital Management Co. L L C raised its stake in shares of Kirby by 5.0% during the 2nd quarter. Atlanta Capital Management Co. L L C now owns 4,472,441 shares of the shipping company’s stock worth $298,983,000 after buying an additional 213,303 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Kirby by 4.7% during the 2nd quarter. Vanguard Group Inc. now owns 4,356,474 shares of the shipping company’s stock worth $291,231,000 after buying an additional 197,084 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of Kirby by 40.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,491,202 shares of the shipping company’s stock worth $164,295,000 after buying an additional 713,836 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Kirby by 12.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,174,026 shares of the shipping company’s stock worth $143,380,000 after buying an additional 246,064 shares in the last quarter. Finally, King Luther Capital Management Corp raised its stake in shares of Kirby by 0.6% during the 3rd quarter. King Luther Capital Management Corp now owns 1,691,327 shares of the shipping company’s stock worth $111,543,000 after buying an additional 10,100 shares in the last quarter. 96.36% of the stock is owned by institutional investors.

KEX has been the subject of a number of analyst reports. Wells Fargo & Co raised Kirby from a “market perform” rating to an “outperform” rating in a research note on Monday. Zacks Investment Research downgraded Kirby from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. Stifel Nicolaus reissued a “hold” rating and set a $67.00 target price on shares of Kirby in a research note on Friday, November 3rd. Stephens reissued a “hold” rating and set a $70.00 target price on shares of Kirby in a research note on Wednesday, January 10th. Finally, Jefferies Group assumed coverage on Kirby in a research note on Monday, December 18th. They set a “buy” rating and a $85.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Kirby presently has a consensus rating of “Hold” and a consensus target price of $75.29.

Kirby Co. (NYSE:KEX) opened at $74.55 on Monday. Kirby Co. has a one year low of $59.25 and a one year high of $75.85. The firm has a market capitalization of $4,450.41, a P/E ratio of 35.33, a P/E/G ratio of 3.79 and a beta of 1.04. The company has a quick ratio of 1.23, a current ratio of 1.93 and a debt-to-equity ratio of 0.36.

Kirby (NYSE:KEX) last released its quarterly earnings data on Wednesday, November 1st. The shipping company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.08. Kirby had a return on equity of 4.48% and a net margin of 5.88%. The firm had revenue of $541.30 million during the quarter, compared to the consensus estimate of $517.54 million. During the same period last year, the business posted $0.59 EPS. Kirby’s quarterly revenue was up 24.5% on a year-over-year basis. equities analysts predict that Kirby Co. will post 2.02 earnings per share for the current fiscal year.

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About Kirby

Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.

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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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