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Grab This Bargain Even Cheaper Than Chief Operating Officer Olosky Did

By Market News Video Staff, Thursday, March 25, 10:09 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 March 1, Simpson Manufacturing Co., Inc. 's Chief Operating Officer, Michael Olosky, invested $49,850.00 into 500 shares of SSD, for a cost per share of $99.70. 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 Simpson Manufacturing Co., Inc. (NYSE:SSD) and achieve a cost basis 1.0% cheaper than Olosky, with shares changing hands as low as $98.72 per share. Simpson Manufacturing Co., Inc. shares are currently trading down about 1.8% on the day. The chart below shows the one year performance of SSD shares, versus its 200 day moving average:

Simpson Manufacturing Co., Inc.  Chart

Looking at the chart above, SSD's low point in its 52 week range is $55.06 per share, with $109.85 as the 52 week high point — that compares with a last trade of $99.65. By comparison, below is a table showing the prices at which SSD insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
03/01/2021 Michael Olosky Chief Operating Officer 500 $99.70 $49,850.00

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