Tuesday 6/16 Insider Buying Report: DW, KMI
updated Tuesday, June 16, 10:32 AMBargain 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 Drew Industries (DW), a filing with the SEC revealed that on Thursday, Director James Gero bought 10,000 shares of DW, for a cost of $57.00 each, for a total investment of $570,000. So far Gero is in the green, up about 3.7% on their buy based on today's trading high of $59.09. Drew Industries is trading up about 0.2% on the day Tuesday. This buy marks the first one filed by Gero in the past year.
And at Kinder Morgan (KMI), there was insider buying on Monday, by CEO Steven J. Kean who purchased 12,000 shares at a cost of $39.38 each, for a total investment of $472,536. Kinder Morgan is trading down about 0.3% on the day Tuesday.
For MarketNewsVideo.com, I'm Sayoko Murase.