Insider Sell: Exec VP and CFO Raj Kumar Sells 2,228 Shares of Kirby Corp (KEX)
Raj Kumar, Executive Vice President and Chief Financial Officer of Kirby Corp (NYSE:KEX), has sold 2,228 shares of the company on March 22, 2024, according to a recent SEC filing. The transaction was executed at an average price of $92 per share, resulting in a total value of $204,976.
Kirby Corp (NYSE:KEX) is a diversified business that operates in the marine transportation and diesel engine services industries. The company is known for its inland and coastal tank barge operations, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, along all three U.S. coasts, and in Alaska and Hawaii. Kirby also services and remanufactures diesel engines and related parts, including the sale and service of high-speed diesel engines and transmissions used in marine and power generation applications, as well as the sale and service of medium-speed diesel engines used in marine and power generation applications.
Over the past year, the insider has sold a total of 8,534 shares of Kirby Corp and has not made any purchases of the stock. The company's insider transaction history indicates a total of 32 insider sells and no insider buys over the same timeframe.
On the day of the insider's recent sale, shares of Kirby Corp were trading at $92, giving the company a market capitalization of $5.398 billion. The price-earnings ratio of the company stands at 24.82, which is above the industry median of 13.91 and also higher than the company's historical median price-earnings ratio.
Kirby Corp's stock is currently assessed as Fairly Valued with a price-to-GF-Value ratio of 1.08, based on a GF Value of $85.41. The GF Value is a proprietary intrinsic value estimate from GuruFocus, which takes into account historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
Investors and analysts often monitor insider selling as it can provide insights into an insider's perspective on the value of the company's stock. However, insider transactions are not always indicative of future stock performance and may be influenced by various factors, including personal financial needs and portfolio diversification strategies.
The SEC filing can be reviewed for further details regarding the transaction.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
