As the saying goes, there are many possible reasons for an
insider to sell a stock, but only one reason to buy -- they expect
to make money. So let's look at two noteworthy recent insider buys.
At Astec Industries (
), a filing with the SEC revealed that on Wednesday, Director
William Glenwood Dorey purchased 5,000 shares of ASTE, at a cost of
$39.81 each, for a total investment of $199,050. Astec Industries
is trading off about 0.9% on the day Thursday. This buy marks the
first one filed by Dorey in the past twelve months.
And on Monday, Joseph R. Nerges purchased $117,577 worth of Ikonics
), purchasing 4,687 shares at a cost of $25.09 each. Before this
latest buy, Nerges bought IKNX at 6 other times during the past
year, for a total cost of $319,907 at an average of $15.12 per
share. Ikonics Corp is trading up about 0.7% on the day Thursday.
So far Nerges is in the green, up about 15.2% on their purchase
based on today's trading high of $28.89.
VIDEO: Thursday 5/1 Insider Buying Report: ASTE,