In recent market activity, Amy D. Husted, the Vice President, General Counsel, and Secretary of Kirby Corp (NYSE:KEX), sold a significant portion of her holdings in the company. The transactions, which occurred on May 28, 2024, involved the sale of 7,853 shares of common stock at a price of $122.5 per share, totaling approximately $961,992.
In addition to the sale, Husted also exercised options to acquire 2,853 shares of Kirby Corp common stock at a price of $75.5 per share. The total value of these acquired shares amounted to $215,401.
The transactions were executed in accordance with a pre-arranged trading plan under Rule 10b5-1, which allows insiders to establish predetermined trading plans when they are not in possession of material non-public information. This plan was adopted by Husted on February 26, 2024.
Following the sale, Husted's ownership in the company stands at 5,280 shares of common stock. It is worth noting that the options exercised by Husted are part of compensation and employee incentive programs, which are common practice among publicly traded companies.
Kirby Corp, with its headquarters in Houston, Texas, operates in the water transportation industry. The company's stock is traded under the ticker symbol KEX on the New York Stock Exchange.
The transactions were publicly filed with the Securities and Exchange Commission and signed by Ronald A. Dragg, Agent and Attorney-in-Fact, on May 29, 2024.
InvestingPro Insights
As Kirby Corp (NYSE:KEX) experiences insider trading activity, it's crucial for investors to consider the company's financial health and market performance. According to the latest data from InvestingPro, Kirby Corp boasts a solid market capitalization of $7.08 billion USD, reflecting its significant presence in the water transportation industry.
InvestingPro Tips indicate that Kirby Corp is currently trading at a low P/E ratio of 28.93 relative to its near-term earnings growth, which could suggest an attractive valuation for investors considering the stock's fundamentals. Additionally, with a PEG ratio of just 0.38 for the last twelve months as of Q1 2024, the company's growth rate appears to be priced efficiently relative to its earnings growth. This aligns with analysts' revisions, as four analysts have recently revised their earnings upwards for the upcoming period, hinting at potential optimism regarding Kirby Corp's financial prospects.
Furthermore, Kirby Corp has demonstrated a strong return over the last year with a price total return of 65.7%, which is complemented by a robust three-month price total return of 38.44%. This performance is indicative of the company's solid market trajectory and could be a key consideration for investors looking to capitalize on momentum.
For those interested in exploring additional insights and metrics on Kirby Corp, InvestingPro offers more in-depth analysis. Currently, there are 11 more InvestingPro Tips available for Kirby Corp, which can be accessed at https://www.investing.com/pro/KEX. Investors looking to leverage these insights can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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