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 Louisiana-Pacific Corp. (NYSE:LPX), a filing with the SEC revealed that on Tuesday, Director Archie W. Dunham bought 383,500 shares of LPX, at a cost of $8.63 each, for a total investment of $3.31M. Dunham was up about 13.2% on the buy at the high point of today's trading session, with LPX trading as high as $9.77 at last check today. Louisiana-Pacific Corp. is trading up about 3.1% on the day Friday.
And also on Tuesday, CEO Robert J. Phillippy purchased $220,614 worth of Newport Corp. (NEWP), purchasing 20,000 shares at a cost of $11.03 each. This purchase marks the first one filed by Phillippy in the past year. Newport Corp. is trading up about 0.3% on the day Friday. So far Phillippy is in the green, up about 11.7% on their purchase based on today's trading high of $12.32.
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