In a recent transaction, William M. Waterman, a director at Kirby Corp (NYSE:KEX), sold 10,000 shares of the company's common stock. The total value of the sale amounted to approximately $1.15 million, with the shares being sold at a weighted average price of $114.51 each.
The transaction took place on May 15, 2024, and the specific sales prices ranged from $113.79 to $115.13 per share. Following the sale, Waterman's remaining stake in Kirby Corp consists of 77,316 shares of common stock.
Investors often monitor insider transactions such as these for insights into the perspectives of key executives and directors regarding the company's stock. Waterman's sale represents a notable change in his investment in Kirby Corp, and the details of the transaction have been made available in compliance with SEC regulations.
The company has not made any official statements regarding the transaction, and it remains one of the routine disclosures that occur within publicly traded companies. Kirby Corp, based in Houston, Texas, operates in the water transportation industry and is incorporated in Nevada.
Investors and analysts may request more detailed information about the transaction from the company if needed. The sale was confirmed by Ronald A. Dragg, who signed as Agent and Attorney-in-Fact for Waterman on May 16, 2024.
InvestingPro Insights
Examining the recent insider transaction at Kirby Corp (NYSE:KEX), where director William M. Waterman sold 10,000 shares, investors can gain further context by considering real-time data and insights from InvestingPro. The company's market capitalization stands at $6.73 billion, reflecting its stature in the water transportation industry. Notably, Kirby Corp is trading at a price-to-earnings (P/E) ratio of 27.06, suggesting a valuation that is in line with its near-term earnings growth, according to InvestingPro data.
InvestingPro Tips highlight that analysts have revised their earnings projections upwards for the upcoming period, indicating potential optimism about the company's financial prospects. Moreover, Kirby Corp has demonstrated a strong return over the last year with a 62.24% price total return, and it is currently trading near its 52-week high, at 98.69% of the peak price.
For investors looking to delve deeper into Kirby Corp's financial health and performance metrics, InvestingPro offers additional tips, including insights on the company's debt levels, liquidity, and return on assets. With a moderate level of debt and liquid assets exceeding short-term obligations, Kirby Corp appears to maintain a balanced financial structure. The company's return on assets for the last twelve months as of Q1 2024 stands at 4.44%, further reflecting its efficient use of resources.
Interested readers can explore more comprehensive analysis and tips on Kirby Corp by visiting InvestingPro. For those considering an InvestingPro subscription, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are a total of 13 additional InvestingPro Tips available for Kirby Corp, offering a broader perspective on the company's performance and potential investment opportunities.
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