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 Friday, Air Products & Chemicals (NYSE:APD)'s CEO, Seifi Ghasemi, made a $3.32M buy of APD, purchasing 25,000 shares at a cost of $132.84 a piece. Ghasemi was up about 1.4% on the buy at the high point of today's trading session, with APD trading as high as $134.74 at last check today. Air Products & Chemicals is trading up about 0.7% on the day Monday. Before this latest buy, Ghasemi made one other purchase in the past twelve months, buying $1.62M shares at a cost of $108.09 a piece.
And at Tootsie Roll Industries (NYSE:TR), there was insider buying on Thursday, by Director Brent Lana Jane Lewis who bought 15,000 shares for a cost of $26.91 each, for a total investment of $403,620. This purchase marks the first one filed by Lewis in the past twelve months. Tootsie Roll Industries is trading up about 1.3% on the day Monday. Bargain hunters are able to snag TR at a price even lower than Lewis did, with shares changing hands as low as $26.40 in trading on Monday which is 1.9% below Lewis's purchase price.
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