On September 6, 2023, David Grzebinski, President & CEO of Kirby Corp (KEX, Financial), sold 26,634 shares of the company. This move comes as part of a series of transactions made by the insider over the past year.
David Grzebinski has been with Kirby Corp for several years, serving in various leadership roles before assuming his current position as President & CEO. Under his leadership, Kirby Corp, a leading provider of marine transportation and diesel engine services, has seen significant growth and expansion.
Kirby Corp operates in the marine transportation and diesel engine services sectors. The company's marine transportation division is the largest in the United States, operating tank barges and towing vessels across the country's inland and coastal waterways. Kirby's diesel engine services division provides after-market services for medium-speed and high-speed diesel engines and reduction gears used in marine, power generation, and railroad applications.
Over the past year, the insider has sold a total of 39,634 shares and has not made any purchases. This trend of selling without buying raises questions about the insider's confidence in the company's future performance.
The insider transaction history for Kirby Corp shows a total of 1 insider buy and 23 insider sells over the past year. This trend suggests that insiders may be taking advantage of the current stock price to cash in on their investments.
On the day of the insider's recent sell, Kirby Corp shares were trading at $83.03, giving the company a market cap of $4.97 billion. The stock's price-earnings ratio stands at 28.82, significantly higher than the industry median of 13.2 and the company's historical median price-earnings ratio.
According to the GuruFocus Value, which is an intrinsic value estimate based on historical multiples, a GuruFocus adjustment factor, and future business performance estimates, Kirby Corp is modestly overvalued. The stock's price-to-GF-Value ratio is 1.11, with a GF Value of $75.05 and a current price of $83.03.
The insider's recent sell, coupled with the stock's overvaluation, may suggest that now could be a good time for investors to reconsider their positions in Kirby Corp. However, as always, investors should conduct their own research and consider their investment goals before making any decisions.
It's important to note that insider sells do not always indicate a lack of confidence in the company. Insiders may sell shares for personal reasons or to diversify their investment portfolio. Therefore, while the insider's recent sell is noteworthy, it should not be the sole factor in an investment decision.
