J.B. Hunt Plans to Sell $56.6 Million in Stock
by February 18, 2002 12:00 am 65 views
J.B. Hunt, chairman of the board and founder of J.B. Hunt Transport Services of Lowell, is proposing to sell 2.2 million shares of company stock, according to documents filed with the Securities and Exchange Commission.
The estimated proceeds from the sale would be about $56.6 million.
The sale, proposed Feb. 4, would represent about 16 percent of Hunt’s total shares, based on the company’s latest proxy statement (filed April 11) and Hunt’s stock transactions in 2001.
During 2001, Hunt unloaded more than 950,000 shares of J.B. Hunt at $23.34-$24.29 per share. On Dec. 20, Hunt and his wife, Johnelle, gave as gifts 12,000 shares at a value of $291,480.
On Jan. 30, the company said that fourth-quarter earnings fell from the same time last year, though it still beat Wall Street estimates.