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July 19, 2018 1:15 PM, EDT

J.B. Hunt Chairman James Thompson Sells Over $1.9 Million of Shares

A tractor trailer sits parked inside a J.B. Hunt Transport Services Inc. facility in Columbus, Ohio. (Luke Sharett/Bloomberg News)

JB Hunt Transport Services Inc. Chairman James K. Thompson sold $1.98 million of shares, according to a filing with the U.S. Securities & Exchange Commission.

J.B. Hunt ranks No. 4 on the Transport Topics Top 100 list of the largest North American for-hire carriers.

Thompson disposed of 16,269 shares at an average price of $122 on July 18, according to the filing. The transaction reduced the directly owned shares by 28% to 41,559 shares. Thompson sold the shares after J.B. Hunt dropped 6.1% in the past month.

RELATED: J.B. Hunt profits power up 55% in 2Q; revenues rise 24%

David G. Mee, the company’s chief financial officer, also sold shares. Mee sold $744,129 of shares, according to a filing with SEC. 

Mee disposed of 6,126 shares at an average price of $121.47 on July 18, according to the filing. 

J.B. Hunt insiders sold 271,671 shares at an average price of $124.55 in the past six months according to data compiled by Bloomberg. These insiders hold a 4.01% stake. 

Shares of the Lowell, Ark.-based company were unchanged in the past six months, bringing J.B. Hunt’s market value to $13.3 billion. The stock reached its 52-week high of $131.74 on June 13 and its low for the past year of $88.83 on Aug. 1. 

Bloomberg publishes notices on insider transactions when an individual insider buys or sells a significant amount of company shares disclosed in Form 4 filings and the purchase or sale is an open market transaction.