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 Astec Industries (NASDAQ:ASTE), a filing with the SEC revealed that on Wednesday, Director William Glenwood Dorey purchased 5,000 shares of ASTE, at a cost of $39.81 each, for a total investment of $199,050. Astec Industries is trading off about 0.9% on the day Thursday. This buy marks the first one filed by Dorey in the past twelve months.
And on Monday, Joseph R. Nerges purchased $117,577 worth of Ikonics Corp (NASDAQ:IKNX), purchasing 4,687 shares at a cost of $25.09 each. Before this latest buy, Nerges bought IKNX at 6 other times during the past year, for a total cost of $319,907 at an average of $15.12 per share. Ikonics Corp is trading up about 0.7% on the day Thursday. So far Nerges is in the green, up about 15.2% on their purchase based on today's trading high of $28.89.
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