Kirby Corp (NYSE:KEX) director Richard Ross has sold a portion of his holdings in the company, according to a recent SEC filing. The transaction, which took place on April 30, 2024, involved the sale of 676 shares of common stock at a price of $109.6 each, totaling over $74,000.
This sale comes after a separate transaction on April 29, where Ross acquired 1,828 shares of Kirby Corp stock at no cost, which increased his total ownership to 24,164 shares before the sale. Following the sale, Ross's holdings in the company decreased to 23,488 shares of common stock.
Kirby Corp, with its headquarters in Houston, Texas, operates in the water transportation industry and is known for its services in the energy and transportation sectors. The recent transactions involving Ross are part of the regular financial disclosures made by company insiders, providing investors with insights into the actions of Kirby Corp's directors and executives.
Investors often monitor such insider transactions as they can provide signals about the company's financial health and future prospects. However, it's important to note that insider buying and selling can occur for various reasons and may not necessarily reflect the executive's outlook on the company's future performance.
The details of these transactions are publicly available through SEC filings, which offer transparency into the trading activities of the company's insiders. Kirby Corp's stock performance and further insider transactions can be tracked by investors looking to stay informed about the company's financial movements.
InvestingPro Insights
As Kirby Corp (NYSE:KEX) director Richard Ross adjusts his stake in the company, investors might be curious about the broader financial picture of Kirby Corp. The company's stock has been performing notably well, as reflected in recent metrics and analyst insights. According to InvestingPro, four analysts have revised their earnings upwards for the upcoming period, indicating a potential uptick in the company's financial prospects.
Additionally, Kirby Corp is trading at a low P/E ratio of 25.4 relative to its near-term earnings growth, which could suggest that the stock is undervalued compared to its growth potential. This is supported by a PEG Ratio for the last twelve months as of Q1 2024 at 0.34, which indicates that the stock may be a good value based on expected growth rates. Moreover, the company has experienced a significant return over the last week with an 8.0% price total return, contributing to a substantial 50.21% return over the past year.
InvestingPro users can find additional insights and tips that may further inform their investment decisions. Currently, there are over 10 additional InvestingPro Tips available, which can be accessed with the use of coupon code PRONEWS24 for an extra 10% off a yearly or biyearly Pro and Pro+ subscription. These tips could provide a deeper understanding of Kirby Corp's performance and potential, including aspects like debt levels, dividend policies, and analysts' profitability predictions for the year.
With a market capitalization of $6.31 billion and a solid gross profit margin of 30.49% for the last twelve months as of Q1 2024, Kirby Corp seems to be maintaining a strong financial stance in the market. These financial metrics, combined with the recent insider transactions, may offer investors a comprehensive view of the company's current position and future potential.
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