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Tuesday 2/9 Insider Buying Report: RXN, AYI
Tuesday, February 9, 10:33 AM ET

Bargain 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.

On Thursday, Rexnord (NYSE:RXN)'s Director, Paul W. Jones, made a $342,918 purchase of RXN, buying 20,000 shares at a cost of $17.15 each. Rexnord is trading up about 2.5% on the day Tuesday. Before this latest buy, Jones purchased RXN on 2 other occasions during the past year, for a total cost of $753,077 at an average of $25.10 per share.

And at Acuity Brands (NYSE:AYI), there was insider buying on Friday, by Director W. Patrick Battle who bought 1,314 shares for a cost of $189.98 each, for a trade totaling $249,634. Acuity Brands is trading up about 2.5% on the day Tuesday. Investors are able to grab AYI at a price even lower than Battle did, with the stock changing hands as low as $173.89 in trading on Tuesday which is 8.5% below Battle's purchase price.

For MarketNewsVideo.com, I'm Sayoko Murase.

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Tuesday 2/9 Insider Buying Report: RXN, AYI | Market News Video | Copyright © 2008 - 2016, All Rights Reserved

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