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 UIL Holding Corp. (NYSE:UIL), a filing with the SEC revealed that on Friday, Director Arnold L. Chase purchased 10,000 shares of UIL, for a cost of $37.25 each, for a total investment of $372,500. UIL Holding Corp. is trading trading flat on the day Wednesday. Before this latest buy, Chase made one other purchase in the past twelve months, buying $79,605 shares at a cost of $36.60 a piece.
And also on Friday, Director Kerrii B. Anderson purchased $86,514 worth of Worthington Industries (NYSE:WOR), purchasing 2,500 shares at a cost of $34.61 a piece. This purchase marks the first one filed by Anderson in the past twelve months. Worthington Industries is trading off about 0.2% on the day Wednesday.
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