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Alan S. McKim, Executive Chairman and Chief Technology Officer of Clean Harbors Inc . (NYSE:CLH), recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, McKim sold a total of 100,000 shares over two days, generating approximately $22.4 million. The transaction comes as Clean Harbors, with its current market capitalization of $12.05 billion, trades near $225 per share.
On June 4th, McKim sold 41,844 shares at a price of $225.40 each, while on June 5th, he sold an additional 58,156 shares at $223.80 per share. These transactions were conducted indirectly through the McKim 2007 Trust, leaving McKim with 2,297,896 shares remaining in the trust post-transaction. According to InvestingPro analysis, Clean Harbors currently trades at a relatively high P/E ratio of 31.1x, though the company maintains strong financial health with an overall score of "GOOD."
The sales were part of a broader strategy involving McKim’s trusts, as noted in the filing. Despite the sales, McKim continues to hold substantial stakes in Clean Harbors through various trusts and direct ownership. Investors seeking deeper insights into Clean Harbors’ valuation and financial metrics can access comprehensive analysis through InvestingPro, which offers detailed research reports and additional ProTips for informed decision-making.
In other recent news, Clean Harbors Inc. reported its first-quarter 2025 earnings, revealing a mixed financial performance. The company exceeded earnings per share estimates by posting $1.09, slightly above the forecast of $1.07. However, revenue reached $1.43 billion, which fell short of the expected $1.45 billion. Despite this revenue miss, Clean Harbors maintained stable operational efficiency with an adjusted EBITDA of $235 million. BMO Capital Markets adjusted its price target for Clean Harbors, raising it from $260.00 to $264.00, while maintaining an Outperform rating, citing strong demand and pricing power as key factors. Additionally, Clean Harbors held its 2025 Annual Meeting of Shareholders, where five Class III directors were elected, and Deloitte & Touche LLP was ratified as the independent auditor for the fiscal year. The company also announced its ongoing strategic initiatives, including exploring mergers and acquisitions, which could potentially enhance its financial position. These developments indicate a focus on long-term growth and stability, despite the challenges faced in the first quarter.
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