HOUSTON—Christian G. O'Neil, President and Chief Operating Officer of Kirby Corp (NYSE:KEX), recently executed a series of stock transactions, as disclosed in a recent SEC filing.
On November 12, O'Neil sold 15,041 shares of Kirby Corp's common stock at $130 per share, totaling approximately $1.96 million. Following this sale, O'Neil retains ownership of 7,746 shares in the company.
In addition to the sale, O'Neil also exercised stock options to acquire 10,041 shares at a price of $73.93 per share, amounting to a total transaction value of $742,331. These shares were acquired through the exercise of employee stock options, reflecting the executive's ongoing investment in the company.
In other recent news, Kirby Corporation has reported a robust financial performance for the third quarter of 2024. The company's earnings per share (EPS) experienced a notable year-over-year increase of 48%, reaching $1.55, while total revenues rose by 9% to $831 million. This rise in earnings and revenues is attributed to strong market conditions and successful business strategies.
Kirby Corporation also made strides in financial stability, repaying $70 million in debt and allocating $56 million for stock repurchases. Despite potential challenges from Hurricane Milton and seasonal market variations, the company anticipates solid financial performance in the upcoming quarter.
Analysts have highlighted the company's strong free cash flow, which exceeded $130 million, and an improved debt-to-cap ratio of 22.9%. Kirby Corporation also expects to generate $600 million to $700 million in cash flow from operations for the full year 2024, with capital expenditures projected between $325 million and $355 million. These developments are recent and underline the company's commitment to its growth initiatives and shareholder returns.
InvestingPro Insights
Kirby Corp's recent stock performance and financial metrics provide additional context to President and COO Christian G. O'Neil's recent transactions. According to InvestingPro data, Kirby Corp has seen impressive stock price appreciation, with a 71.13% total return over the past year and a robust 65.88% year-to-date return. This strong performance aligns with an InvestingPro Tip indicating that the company is trading near its 52-week high, with the current price at 97.89% of that peak.
The company's financial health appears solid, with an adjusted market capitalization of $7.48 billion and a P/E ratio of 24.58. An InvestingPro Tip suggests that Kirby Corp is trading at a low P/E ratio relative to its near-term earnings growth, which could indicate potential value for investors. This is further supported by the company's PEG ratio of 0.43, suggesting that the stock may be undervalued relative to its growth prospects.
Kirby Corp's profitability is also noteworthy, with the company generating $3.26 billion in revenue over the last twelve months and maintaining a healthy gross profit margin of 32%. An InvestingPro Tip confirms that the company has been profitable over the last twelve months, and analysts predict continued profitability for the current year.
For investors seeking more comprehensive analysis, InvestingPro offers additional tips and insights beyond those mentioned here. In fact, there are 8 more InvestingPro Tips available for Kirby Corp, providing a deeper understanding of the company's financial position and market performance.
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