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 MEMC Electronic Materials, Inc. (WFR), a filing with the SEC revealed that on Thursday, Director Steven Vincent Tesoriere bought 3,238,000 shares of WFR, for a cost of $2.27 each, for a total investment of $7.36M. Tesoriere was up about 4.3% on the buy at the high point of today's trading session, with WFR trading as high as $2.37 at last check today. MEMC Electronic Materials, Inc. is trading up about 2.4% on the day Monday. This purchase marks the first one filed by Tesoriere in the past twelve months.
And on Friday, CEO F. Scott Dueser purchased $4.7M worth of First Financial Bankshares, Inc. (NASDAQ:FFIN), purchasing 132,977 shares at a cost of $35.32 a piece. First Financial Bankshares, Inc. is trading up about 2.2% on the day Monday. So far Dueser is in the green, up about 2.7% on their buy based on today's trading high of $36.29.
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