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 EnPro Industries Inc (NYSE:NPO), a filing with the SEC revealed that on Friday, Dale A. Herold purchased 700 shares of NPO, for a cost of $35.68 each, for a total investment of $24,979. Herold was up about 3.8% on the buy at the high point of today's trading session, with NPO trading as high as $37.03 at last check today. EnPro Industries Inc is trading down about 0.1% on the day Wednesday.
And on Monday, Director Stephen R. Hardis purchased $23,650 worth of Lexmark International, Inc. (NYSE:LXK), purchasing 1,062 shares at a cost of $22.27 a piece. Before this latest buy, Hardis purchased LXK at 3 other times during the past twelve months, for a total investment of $76,998 at an average of $31.11 per share. Lexmark International, Inc. is trading up about 0.2% on the day Wednesday. Investors have the opportunity to pick up LXK at a price even lower than Hardis did, with shares changing hands as low as $21.74 at last check today -- that's 2.4% under Hardis's purchase price.
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