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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Fastenal, a filing with the SEC revealed that on Friday, Director Michael John Dolan purchased 2,500 shares of FAST, for a cost of $47.31 each, for a total investment of $118,275. Fastenal is trading up about 0.8% on the day Wednesday.
And at Prudential Financial, there was insider buying on Tuesday, by Director Wendy Elizabeth Jones who bought 1,000 shares for a cost of $80.98 each, for a total investment of $80,980. This purchase marks the first one filed by Jones in the past year. Prudential Financial is trading up about 1% on the day Wednesday. Jones was up about 1.7% on the purchase at the high point of today's trading session, with PRU trading as high as $82.36 in trading on Wednesday.
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