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 Penford Corp. (NASDAQ:PENX), a filing with the SEC revealed that on Tuesday, Director Jeffrey T. Cook purchased 3,500 shares of PENX, for a cost of $8.09 each, for a total investment of $28,315. Penford Corp. is trading up about 1.5% on the day Wednesday.
And at Terex Corp. (NYSE:TEX), there was insider buying on Friday, by Senior Vice President, Douglas R. Friesen who bought 212 shares for a cost of $29.44 each, for a trade totaling $6,241. Before this latest buy, Friesen bought TEX on 12 other occasions during the past twelve months, for a total cost of $110,217 at an average of $21.39 per share. Terex Corp. is trading up about 0.1% on the day Wednesday. Investors have the opportunity to buy TEX at a price even lower than Friesen did, with shares trading as low as $28.63 at last check today -- that's 2.8% under Friesen's purchase price.
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