As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Emerson Electric Co. (NYSE:EMR), a filing with the SEC revealed that on Thursday, Director August A. Busch III purchased 10,100 shares of EMR, at a cost of $49.30 each, for a total investment of $497,929. Bargain hunters can buy EMR even cheaper than Busch III did, with the stock changing hands as low as $48.15 in trading on Tuesday -- that's 2.3% below Busch III's purchase price. Emerson Electric Co. is trading off about 0.3% on the day Tuesday. Before this latest buy, Busch III made one other buy in the past twelve months, purchasing $997,233 shares at a cost of $44.01 a piece.
And on Friday, CEO John William Gibson bought $394,472 worth of ONEOK Partners LP (NYSE:OKS), buying 7,000 shares at a cost of $56.35 each. ONEOK Partners LP is trading down about 1% on the day Tuesday.
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