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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Dresser-Rand Group (NYSE:DRC), a filing with the SEC revealed that on Friday, CEO Vincent R. Volpe Jr. purchased 18,400 shares of DRC, at a cost of $54.75 each, for a total investment of $1.01M. So far Volpe Jr. is in the green, up about 2.8% on their buy based on today's trading high of $56.27. Dresser-Rand Group is trading up about 2% on the day Monday.
And at First Financial Bankshares (NASDAQ:FFIN), there was insider buying on Friday, by Director Johnny Trotter who purchased 7,100 shares at a cost of $60.11 each, for a trade totaling $426,806. Before this latest buy, Trotter purchased FFIN at 10 other times during the past year, for a total investment of $532,512 at an average of $59.64 per share. First Financial Bankshares is trading up about 2.2% on the day Monday. So far Trotter is in the green, up about 2.5% on their purchase based on today's trading high of $61.60.
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