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 Featured MNV Articles:
| Top Buys by Directors: Kington's $1.6M Bet on DBy Energy Stock Channel Staff, Tuesday, July 31, 3:21 PM ET
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 $1.6M invested across 3 purchases by Mark J. Kington, Director at Dominion Resources Inc (NYSE:D). Kington bets big on D:
Kington's average cost works out to $49.88/share. Shares of Dominion Resources Inc were changing hands at $54.48 at last check, trading off about 0.8% on Tuesday. The chart below shows the one year performance of D shares, versus its 200 day moving average:
Looking at the chart above, D's low point in its 52 week range is $44.50 per share, with $55.17 as the 52 week high point — that compares with a last trade of $54.48. The current annualized dividend paid by Dominion Resources Inc is $2.11/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 05/30/2012. Below is a long-term dividend history chart for D, which can be of good help in judging whether the most recent dividend with approx. 3.9% annualized yield is likely to continue.
According to the ETF Finder at ETF Channel, D makes up 6.56% of the Utilities Select Sector SPDR Fund ETF (AMEX:XLU) which is trading lower by about 0.5% on the day Tuesday. See what other ETFs contain D » Special Offer: Small cap value stocks have outperformed the markets since the end of the recession — see what you've been missing with this free 30 day trial
Find the right mix of model portfolios today at PortfolioChannel.com
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One Reason For Insiders to Buy
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