Investors tracking insider transactions at Zurn Elkay Water Solutions Corp (NYSE:ZWS) may have noted a recent sale by Ice Mountain LLC, a significant shareholder in the company. According to the latest SEC filings, Ice Mountain LLC has sold a total of $167,842 worth of Zurn Elkay Water Solutions Corp stock.
The transaction, which took place on May 23, 2024, involved the sale of 5,232 shares at a weighted average price of $32.08 per share. The shares were sold in multiple transactions with prices ranging from $32.00 to $32.13, indicating a narrow price range during the sale period.
Following the transaction, Ice Mountain LLC's directly held shares in Zurn Elkay Water Solutions Corp amounted to 24,215,312. It's worth noting that Cascade Bay LLC, as the manager and sole Class A Member of Ice Mountain, along with Katz 2004 DYN Trust, which acts as the Special Assets Manager of Cascade Bay, may be deemed to beneficially own the shares directly held by Ice Mountain.
Transactions like these are often of interest to investors as they can provide insights into the perspectives of significant shareholders and company insiders. The sale by Ice Mountain LLC represents a notable change in their holdings in Zurn Elkay Water Solutions Corp, a company known for its specialization in general industrial machinery and equipment.
Investors and those interested in the company's stock may wish to follow up on this transaction for any further developments or insights that might emerge from the actions of key stakeholders in Zurn Elkay Water Solutions Corp.
InvestingPro Insights
Amid the insider transactions at Zurn Elkay Water Solutions Corp (NYSE:ZWS), investors may find additional context through key metrics and insights from InvestingPro. With a market capitalization of $5.41 billion, ZWS is a notable player in the industrial machinery and equipment sector. The company's financial health and growth prospects are also illuminated by several InvestingPro Tips and real-time data metrics.
An InvestingPro Tip highlights that Zurn Elkay Water Solutions Corp is trading at a low P/E ratio relative to near-term earnings growth. This could signal that the stock is undervalued considering its growth potential, which is particularly relevant for investors analyzing the implications of insider sales. Moreover, the company has a perfect Piotroski Score of 9, suggesting strong financial health, which might reassure investors about the company's fundamentals despite recent insider selling activity.
InvestingPro Data shows that ZWS has a P/E ratio of 43.76, with an adjusted P/E ratio for the last twelve months as of Q1 2024 standing at 38.93. The company's revenue growth for the same period was 8.34%, indicating a steady upward trajectory in its financial performance. Additionally, the company's gross profit margin was a robust 43.69%, reflecting efficient operations and strong pricing power.
For investors seeking a deeper dive into Zurn Elkay Water Solutions Corp's financials and future outlook, InvestingPro offers additional insights. There are 6 more InvestingPro Tips available that could provide further clarity on ZWS's performance and expectations. Interested readers can access these tips by visiting the InvestingPro platform at https://www.investing.com/pro/ZWS and can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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