Friday 5/29 Insider Buying Report: MLM, BID
Friday, May 29, 10:31 AM ET
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.
On Wednesday, Martin Marietta Materials (MLM)'s Director, Stephen P. Zelnak Jr., made a $2.44M buy of MLM, purchasing 16,150 shares at a cost of $151.07 each. Martin Marietta Materials is trading down about 0.6% on the day Friday. Before this latest buy, Zelnak Jr. purchased MLM on 2 other occasions during the past year, for a total cost of $1.23M at an average of $127.19 per share.
And at Sotheby's (BID), there was insider buying on Thursday, by Director John M. Angelo who purchased 52,250 shares for a cost of $44.46 each, for a trade totaling $2.32M. Sotheby's is trading up about 0.9% on the day Friday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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