Kirby Corp President & CEO David Grzebinski Sells 18,000 Shares
David Grzebinski, President & CEO of Kirby Corp (NYSE:KEX), executed a sale of 18,000 shares in the company on February 12, 2024, according to a recent SEC filing. Kirby Corp is a Houston-based marine transportation and diesel engine services company, operating the largest fleet of inland tank barges and towing vessels in the United States. The company's marine transportation services are used for 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 operates a diesel engine services segment, providing after-market service and genuine replacement parts for diesel engines, transmissions, pumps, and compression products.
Over the past year, the insider has sold a total of 69,634 shares and has not made any purchases. The recent transaction of 18,000 shares was carried out at a stock price of $85.44, valuing the sale at approximately $1,537,920. This transaction has contributed to the insider selling trend observed at Kirby Corp, where there have been 31 insider sells and only 1 insider buy over the past year.
Kirby Corp's stock market capitalization stands at $4.991 billion as of the date of the insider's sale. The company's price-earnings ratio is 22.70, which is above the industry median of 13.86 but below the companys historical median price-earnings ratio.
The stock's price of $85.44 on the day of the sale aligns with a price-to-GF-Value ratio of 1.02, indicating that Kirby Corp is Fairly Valued according to the GF Value estimate. The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor, 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 valuation of the company. However, insider transactions are not always indicative of future stock performance and can be influenced by various factors, including personal financial needs and portfolio diversification strategies.
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.
