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Top Buys by Directors: Mahowald's $478K Bet on CMO

By Dividend Channel Staff, Tuesday, January 31, 11:48 AM ET
Play Video: One Reason For Insiders to Buy


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The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $478K by Christopher W. Mahowald, Director at Capstead Mortgage Corp. (NYSE:CMO).

Mahowald bets big on CMO:

Purchased Insider Title Shares Price/Share Value
11/01/2011 Christopher W. Mahowald Director 40,000 $11.95 $477,966.25

Mahowald's average cost works out to $11.95/share. Shares of Capstead Mortgage Corp. were changing hands at $12.93 at last check, trading up about 0.3% on Tuesday. The chart below shows the one year performance of CMO shares, versus its 200 day moving average:

Capstead Mortgage Corp. Chart

Looking at the chart above, CMO's low point in its 52 week range is $10.00 per share, with $13.95 as the 52 week high point that compares with a last trade of $12.93.

The current annualized dividend paid by Capstead Mortgage Corp. is $1.72/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 12/28/2011. Below is a long-term dividend history chart for CMO, which can be of good help in judging whether the most recent dividend with approx. 13.3% annualized yield is likely to continue.

According to the ETF Finder at ETF Channel, CMO makes up 4.32% of the Mortgage REIT Income ETF (AMEX:MORT) which is trading higher by about 0.3% on the day Tuesday.

See what other ETFs contain CMO
See what other stocks are held by MORT


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