Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Wednesday, J.M. Smucker's Director, Timothy P. Smucker, made a $1.08M buy of SJM, purchasing 11,000 shares at a cost of $98.26 a piece. J.M. Smucker is trading up about 1.9% on the day Friday.
And at Worthington Industries, there was insider buying on Wednesday, by Director John B. Blystone who purchased 25,000 shares at a cost of $36.67 each, for a trade totaling $916,750. This purchase marks the first one filed by Blystone in the past year. Worthington Industries is trading up about 1.9% on the day Friday. Bargain hunters are able to bag WOR even cheaper than Blystone did, with the stock trading as low as $34.88 in trading on Friday which is 4.9% under Blystone's purchase price.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.