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Snag Shares of CRR Cheaper Than the CEO Did

By Energy Stock Channel Staff, Thursday, January 31, 11:01 AM ET
Play Video: One Reason For Insiders to Buy


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There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on November 7, Carbo Ceramics Inc.'s CEO, Gary A. Kolstad, invested $36,900.00 into 500 shares of CRR, for a cost per share of $73.80. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

In trading on Thursday, bargain hunters could buy shares of Carbo Ceramics Inc. (NYSE:CRR) and achieve a cost basis even cheaper than Kolstad, with shares changing hands as low as $73.27 per share. It should be noted that Kolstad has collected $0.27/share in dividends since the time of their purchase, so they are currently down 0.4% on their purchase from a total return basis. Carbo Ceramics Inc. shares are currently trading up about 7.4% on the day. The chart below shows the one year performance of CRR shares, versus its 200 day moving average:

Carbo Ceramics Inc. Chart

Looking at the chart above, CRR's low point in its 52 week range is $60.33 per share, with $110.66 as the 52 week high point that compares with a last trade of $79.95. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
11/01/2012 Gary A. Kolstad President and CEO 1,000 $74.31 $74,310.00
11/02/2012 Gary A. Kolstad President and CEO 1,000 $75.85 $75,850.00
11/07/2012 Gary A. Kolstad President and CEO 500 $73.80 $36,900.00

According to the ETF Finder at ETF Channel, CRR makes up 2.17% of the SPDR S&P Oil & Gas Equipment & Services ETF (AMEX:XES) which is trading up by about 0.1% on the day Thursday.

See what other ETFs contain CRR
See what other stocks are held by XES


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