Kirby (NYSE:KEX) Corporation's (NYSE:KEX) Vice President and Chief Information Officer, Scott P. Miller, has recently engaged in significant stock transactions, according to a new SEC filing. On March 26, Miller sold 6,705 shares of Kirby Corp common stock at a weighted average price of $95.05, with individual sales prices ranging between $95.02 and $95.10. The total value of the shares sold amounted to approximately $637,310.
The SEC filing also disclosed that on the same day, Miller acquired 6,705 shares at $84.9 per share, totaling around $569,254. However, these shares were immediately sold, as indicated by the subsequent reduction in Miller's holdings to 1,000 shares following the transactions.
Investors often monitor insider buying and selling as it can provide insights into a company's performance and the confidence levels of its executives. The trading activity of high-level executives like Miller can be particularly noteworthy, as they typically have a deeper understanding of the company's operations and future prospects.
Kirby Corporation, headquartered in Houston, Texas, specializes in water transportation services and operates in the energy and transportation sectors. The recent transactions by Miller come during a period where insider trades are closely watched for signs of strategic shifts or personal financial management by company executives.
The SEC filing includes a footnote clarifying the range of sales prices for Miller's sold shares and notes that full information regarding the number of shares sold at each separate price can be provided upon request by the commission staff.
Investors and analysts following Kirby Corp will continue to observe insider transaction patterns as part of their broader assessment of the company's financial health and strategic direction.
InvestingPro Insights
In light of the recent insider trading activity at Kirby Corporation, investors seeking a deeper understanding of the company's financial positioning can consider several key metrics from InvestingPro. As of the last twelve months ending Q4 2023, Kirby Corporation boasts a market capitalization of approximately $5.53 billion. The company's price-to-earnings (P/E) ratio stands at 25.27, which, when adjusted for the same period, is slightly higher at 25.46. This suggests that the stock is trading at a valuation that is in line with its near-term earnings potential.
Moreover, Kirby's PEG ratio, which measures the stock's price relative to its earnings growth rate, is notably low at 0.3. This indicates that the stock may be undervalued when considering its earnings growth. Additionally, the company's strong revenue growth of 11.02% over the last twelve months signals robust business performance.
From an operational standpoint, Kirby Corporation's gross profit margin at nearly 29.47% reflects a healthy ability to translate sales into profits. This is further underscored by the company's operating income margin of 10.83%. An InvestingPro Tip worth noting is that Kirby Corporation operates with a moderate level of debt and has liquid assets that exceed its short-term obligations, which suggests financial stability. Another InvestingPro Tip highlights that the stock is currently trading near its 52-week high, with a price that is 99.21% of this peak value, potentially indicating market confidence in the company's prospects.
For those interested in gaining more insights and tips, InvestingPro offers additional expert analysis. There are 10 more InvestingPro Tips available for Kirby Corporation, which can be accessed by visiting https://www.investing.com/pro/KEX. For a more comprehensive investment analysis, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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