Friday 9/4 Insider Buying Report: GLW, ALEX Friday, September 4, 10:32 AM ET
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.
At Corning (GLW), a filing with the SEC revealed that on Tuesday, Exec. VP & Innovation Officer Martin J. Curran purchased 35,820 shares of GLW, for a cost of $16.67 each, for a total investment of $597,137. Curran was up about 3.3% on the purchase at the high point of today's trading session, with GLW trading as high as $17.23 at last check today. Corning, Inc. is trading off about 1% on the day Friday.
And also on Tuesday, Director David C. Hulihee bought $594,103 worth of Alexander & Baldwin (ALEX), buying 17,810 shares at a cost of $33.36 a piece. Before this latest buy, Hulihee bought ALEX on 7 other occasions during the past year, for a total investment of $3.86M at an average of $37.77 per share. Alexander & Baldwin is trading off about 1.2% on the day Friday. Hulihee was up about 2.9% on the purchase at the high point of today's trading session, with ALEX trading as high as $34.31 in trading on Friday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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