In a recent transaction, Scott P. Miller, the Vice President and Chief Information Officer (VP-CIO) of Kirby Corp (NYSE:KEX), sold shares of the company's stock. The sale, which took place on April 11, 2024, involved 487 shares at a price of $99.78 each, totaling $48,592.
This sale followed a series of transactions that occurred on April 8, 2024. On that day, Miller acquired 803 shares of Kirby Corp through the vesting of restricted stock units (RSUs). The RSUs were granted on April 8, 2019, and vested in five equal annual installments beginning on April 8, 2020. Due to an administrative error, the vesting of these shares had not been previously reported. Additionally, Miller disposed of 316 shares on the same day at a price of $99.55 per share, amounting to a total of $31,457.
The transactions were conducted in accordance with a Rule 10b5-1 trading plan, which Miller had adopted on August 2, 2023. Such plans allow company insiders to set up a predetermined schedule for buying or selling shares at a time when they are not in possession of material non-public information, providing a defense against accusations of insider trading.
Following the sale on April 11, Miller's direct ownership in Kirby Corp stood at 1,000 shares. Kirby Corp, headquartered in Houston, Texas, is a company operating in the water transportation industry. The stock trades on the New York Stock Exchange under the ticker symbol KEX.
Investors often monitor insider transactions for insights into how executives and directors view the company's stock and potential future performance. However, it is important to note that such transactions do not necessarily indicate the company's operational performance or future stock price movements.
InvestingPro Insights
As Kirby Corp's (NYSE:KEX) Vice President and Chief Information Officer Scott P. Miller engages in recent stock transactions, investors looking to understand the company's financial health can gain valuable insights from InvestingPro data. The company's market capitalization stands at $5.8 billion, and it maintains a price-to-earnings (P/E) ratio of 26.57, which is closely aligned with its adjusted P/E ratio for the last twelve months as of Q4 2023 at 26.45. This P/E ratio is considered low relative to Kirby Corp's near-term earnings growth, suggesting potential value for investors seeking growth at a reasonable price.
With a PEG ratio for the last twelve months as of Q4 2023 at 0.31, Kirby Corp shows a promising sign of undervaluation based on its earnings growth. The company's revenue growth for the same period was 11.02%, indicating a solid upward trajectory in its financial performance. Moreover, Kirby Corp's stock has been performing strongly in the market, with a robust return over the last three months of 28.8%, and it is trading near its 52-week high, at 99.59% of the peak value.
For those interested in further analysis, InvestingPro offers additional InvestingPro Tips for Kirby Corp, which include insights such as the stock's low price volatility and the fact that the company's liquid assets exceed its short-term obligations. These factors, combined with Kirby Corp's moderate level of debt, provide a more comprehensive picture of the company's financial stability and investment potential. To explore these insights in greater detail, investors can visit InvestingPro and use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 11 additional InvestingPro Tips available for Kirby Corp, offering a deeper dive into the company's financial metrics and market performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.