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 Eastman Chemical, a filing with the SEC revealed that on Wednesday, CCO Brad A. Lich bought 3,280 shares of EMN, for a cost of $68.49 each, for a total investment of $224,647. So far Lich is in the green, up about 3.1% on their purchase based on today's trading high of $70.63. Eastman Chemical is trading up about 2.9% on the day Friday. This purchase marks the first one filed by Lich in the past twelve months.
And at BJ's Wholesale Club Holdings, there was insider buying on Tuesday, by Director Steven L. Ortega who bought 2,080 shares for a cost of $96.09 each, for a trade totaling $199,867. Before this latest buy, Ortega purchased BJ at 2 other times during the past year, for a total cost of $398,897 at an average of $95.09 per share. BJ's Wholesale Club Holdings is trading up about 0.3% on the day Friday. So far Ortega is in the green, up about 1.8% on their purchase based on today's trading high of $97.81.
VIDEO: Friday 8/29 Insider Buying Report: EMN, BJ
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