Kirby Corp (NYSE:KEX) executive Dorman Lynn Strahan, who holds the title of President-Kirby Engine Systems, recently completed stock transactions involving both the acquisition and disposal of shares in the company. According to the latest filings, Strahan sold shares totaling over $325,000.
On March 27, 2024, Strahan sold 3,423 shares of Kirby Corp at a weighted average price of $95.11, with individual transactions ranging from $95.09 to $95.20 per share. This sale amounted to a total of approximately $325,561. The reported price represents the weighted average, as the sales were conducted at varying prices within the stated range.
In addition to the sale, the same filing indicated that Strahan also acquired 3,423 shares at a price of $75.5 per share, which totals around $258,436. This acquisition is classified separately from the sale and is part of non-derivative securities transactions listed in the filing.
Following these transactions, Strahan's ownership in Kirby Corp has adjusted to 21,054 shares of common stock. It's important to note that these transactions are part of the standard disclosures made by company insiders and are publicly available for investors' scrutiny.
Kirby Corp, with its headquarters in Houston, Texas, operates in the water transportation industry and is incorporated in Nevada. The company's stock is traded on the New York Stock Exchange under the ticker symbol KEX.
InvestingPro Insights
As Kirby Corp (NYSE:KEX) makes headlines with insider stock transactions, market watchers and investors are keenly observing the company's financial health and stock performance. In light of recent activities, several metrics from InvestingPro provide a clearer picture of Kirby Corp's current market stance.
The company's market capitalization stands at a robust $5.53 billion, reflecting its substantial presence in the water transportation industry. Kirby Corp's Price-to-Earnings (P/E) ratio, an indicator of what the market is willing to pay today for a stock based on its past or future earnings, is currently at 25.27, with a slight adjustment to 25.46 when considering the last twelve months as of Q4 2023. This suggests that the stock is trading at a valuation that is in line with its earnings performance.
Moreover, Kirby Corp has demonstrated solid revenue growth, with an 11.02% increase in the last twelve months as of Q4 2023. This growth trajectory is further supported by a strong gross profit margin of 29.47%, indicating the company's efficiency in managing its cost of goods sold relative to its sales.
InvestingPro Tips highlight several other aspects of the company's financial posture. Notably, Kirby Corp's stock is currently trading near its 52-week high, with a price that is 99.21% of this peak value. This could be indicative of strong market confidence in the stock, which has also seen a significant return of 20.35% over the last three months. Additionally, the company's liquid assets have been reported to exceed its short-term obligations, suggesting a comfortable liquidity position.
For investors seeking more detailed analysis and additional insights, InvestingPro offers a variety of tips, including the fact that analysts have recently revised their earnings expectations downwards for the upcoming period and the Relative Strength Index (RSI) suggests the stock may be in overbought territory. These insights, along with others, can be found on InvestingPro's platform, and users can take advantage of a special offer by using the 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, which could provide valuable guidance for potential investment decisions.
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