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.
On Monday, Oiltanking Partners (OILT)'s President, CEO and Director, Anne-Marie Ainsworth, made a $62,368 buy of OILT, purchasing 1,000 shares at a cost of $62.37 each. Oiltanking Partners is trading down about 0.1% on the day Tuesday. Before this latest buy, Ainsworth purchased OILT at 11 other times during the past twelve months, for a total cost of $507,744 at an average of $50.77 per share.
And on Friday, Director Robert A. McDonald purchased $29,837 worth of US Steel (NYSE:X), purchasing 1,000 shares at a cost of $29.84 each. This buy marks the first one filed by McDonald in the past twelve months. Investors are able to snag US Steel at a price even lower than McDonald did, with the stock trading as low as $29.43 in trading on Tuesday -- that's 1.4% under McDonald's purchase price.
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