In a recent transaction, Dorman Lynn Strahan, President of Kirby (NYSE:KEX) Engine Systems, a division of Kirby Corp (NYSE:KEX), sold 2,470 shares of the company stock. The sale took place on May 10, 2024, with the shares being sold at a price of $115.72 each, resulting in a total transaction value of $285,828.
This transaction has adjusted Strahan's holdings in Kirby Corp, leaving him with a total of 18,584 shares in the company. The sale was executed directly, as indicated in the recent filings with the Securities and Exchange Commission.
Kirby Corp, headquartered in Houston, Texas, operates in the water transportation industry under the Energy & Transportation segment. The company, with a long-standing history in maritime operations, is known for its extensive fleet of tank barges and towing vessels.
Investors often keep a close eye on insider transactions as they can provide insights into an executive's confidence in the company's prospects. The sale by Strahan comes amidst the market's ongoing evaluation of insider trading patterns to gauge the financial health and future performance of corporations.
For those interested in Kirby Corp's stock movements and insider transactions, more detailed information can be found in the company's latest SEC filings.
InvestingPro Insights
As investors scrutinize the recent insider sale by Dorman Lynn Strahan of Kirby Corp, it's valuable to consider the broader financial context of the company. According to InvestingPro data, Kirby Corp boasts a market capitalization of $6.66 billion USD, reflecting its substantial presence in the water transportation industry. The company's P/E ratio currently stands at 26.93, which aligns closely with a slightly adjusted P/E ratio of 26.69 for the last twelve months as of Q1 2024. This suggests a stable valuation over recent periods.
Notably, Kirby Corp has demonstrated consistent revenue growth, with a 7.69% increase over the last twelve months as of Q1 2024. This growth trajectory is also evident in the company's quarterly revenue growth, which mirrors the annual figure at 7.67%. Such financial health is further underscored by a strong gross profit margin of 30.49%, indicating efficient operations and cost management within the company.
Turning to InvestingPro Tips, it's worth noting that four analysts have revised their earnings estimates upwards for Kirby Corp, signaling potential optimism about the company's financial outlook. Additionally, Kirby Corp's stock has delivered a robust return over the past year, with a 63.3% price total return, which could be a testament to the company's operational success and market confidence. However, the Relative Strength Index (RSI) suggests that the stock is currently in overbought territory, which could indicate a potential pullback or consolidation in the near term.
For investors looking to delve deeper into Kirby Corp's financials and stock performance, InvestingPro offers additional insights. There are currently 12 more InvestingPro Tips available, which can be accessed at https://www.investing.com/pro/KEX. To enrich your investment analysis, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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