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.
At Eastern (NASDAQ:EML), a filing with the SEC revealed that on Friday, Director Frederick D. Disanto bought 35,097 shares of EML, at a cost of $25.90 each, for a total investment of $909,012. So far Disanto is in the green, up about 13.9% on their purchase based on today's trading high of $29.50. Eastern Co. is trading up about 1.2% on the day Wednesday. Before this latest buy, Disanto made one other buy in the past twelve months, purchasing $32,714 shares at a cost of $16.36 a piece.
And at NuStar Energy LP (NYSE:NS), there was insider buying on Friday, by Director William Grady Rosier who purchased 5,000 shares for a cost of $46.40 each, for a trade totaling $231,992. Before this latest buy, Rosier made one other buy in the past year, purchasing $9,965 shares for a cost of $46.35 a piece. NuStar Energy LP is trading up about 0.5% on the day Wednesday. So far Rosier is in the green, up about 1.8% on their purchase based on today's trading high of $47.23.
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