In a recent transaction, Richard J. Alario, a director of Kirby Corp (NYSE:KEX), sold 2,500 shares of the company's common stock. The sale, which took place on May 21, 2024, amounted to a total value of $303,475, with the stock priced at $121.39 per share.
This transaction has adjusted Alario's holdings in Kirby Corp, leaving him with a total of 25,317 shares following the sale. As a director of the company, Alario's trading activities are closely watched for insights into Kirby Corp's internal confidence and financial health.
Kirby Corp, known for its operations in water transportation, has been a subject of interest for investors trying to gauge market sentiment through the actions of its insiders. While the sale of shares by a director can have various motivations, it is worth noting for investors who track insider trading as part of their investment research.
The details of the transaction were made public through a Form 4 filing with the Securities and Exchange Commission. As per the document, the sale was executed directly, indicating that Alario's ownership in the company's stock remains straightforward and transparent.
Investors and analysts often keep an eye on insider transactions as they can provide valuable context to the company's financial standing and future prospects. Kirby Corp's stock performance and insider trading patterns will likely continue to be monitored by those with stakes in the company or considering an investment.
InvestingPro Insights
Kirby Corp's recent insider stock sale by director Richard J. Alario has prompted a closer look at the company's financial metrics and market performance. According to InvestingPro data, Kirby Corp boasts a market capitalization of $7.06 billion and a P/E ratio of 28.31, with a slight adjustment to 28.46 based on the last twelve months as of Q1 2024. The company's revenue growth over the same period was 7.69%, reflecting a steady increase in earnings.
Investors may also find the PEG ratio of 0.38 particularly interesting as it suggests that Kirby Corp's stock is trading at a low price relative to its near-term earnings growth, an InvestingPro Tip that could indicate potential value. Additionally, the company's stock has experienced a significant price total return of 65.22% over the last year, aligning with another InvestingPro Tip highlighting a strong return over the past twelve months.
For investors considering the timing of their investments, it's noteworthy that Kirby Corp is currently trading near its 52-week high, at 98.06% of the peak price. The stock's previous close was at $122.16. With 4 analysts having revised their earnings upwards for the upcoming period, there could be optimism surrounding the company's future performance. For those interested in further analysis, InvestingPro offers additional tips, and users can take advantage of the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
It's essential for investors to keep an eye on the next earnings date scheduled for July 25, 2024, to gain more insights into Kirby Corp's financial trajectory. With a fair value estimation by analysts at $130.5 and InvestingPro's fair value at $116.11, the company's stock could be an attractive option for those looking to invest in the water transportation sector.
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