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.
On Friday, Worthington Industries' Director, David P. Blom, made a $206,428 purchase of WOR, buying 5,000 shares at a cost of $41.29 a piece. Worthington Industries, is trading up about 9.7% on the day Monday. This purchase marks the first one filed by Blom in the past twelve months.
And at United Natural Foods, there was insider buying on Thursday, by Chief Executive Officer Douglas J. Alexander Jr. who purchased 2,932 shares at a cost of $33.98 each, for a trade totaling $99,629. Before this latest buy, Alexander Jr. made one other purchase in the past twelve months, buying $121,049 shares at a cost of $35.21 each. United Natural Foods is trading up about 5.5% on the day Monday. So far Alexander Jr. is in the green, up about 7.2% on their purchase based on today's trading high of $36.43.
For MarketNewsVideo.com, I'm Sayoko Murase.