Monday 4/27 Insider Buying Report: TORO, SON
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 Toro, a filing with the SEC revealed that on Friday, Chief Executive Officer Petros Panagiotidis bought 2,315,971 shares of TORO, for a cost of $6.15 each, for a total investment of $14.25M. So far Panagiotidis is in the green, up about 38.1% on their buy based on today's trading high of $8.50. Toro is trading up about 19.4% on the day Monday.
And also on Friday, CFO Paul Joachimczyk bought $399,998 worth of Sonoco Products, buying 8,058 shares at a cost of $49.64 a piece. Before this latest buy, Joachimczyk made one other buy in the past twelve months, purchasing $809,746 shares at a cost of $39.50 each. Sonoco Products Co. is trading up about 2.8% on the day Monday.
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