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, Apogee Enterprises (NASDAQ:APOG)'s Chief Executive Officer & President, Joseph F. Puishys, made a $507,241 purchase of APOG, buying 11,000 shares at a cost of $46.11 a piece. Apogee Enterprises is trading off about 0.5% on the day Monday.
And on Thursday, CEO Gary E. Dickerson purchased $430,200 worth of Applied Materials (NASDAQ:AMAT), purchasing 30,000 shares at a cost of $14.34 each. Before this latest buy, Dickerson made one other buy in the past year, purchasing $156,800 shares at a cost of $15.68 each. Applied Materials is trading down about 0.3% on the day Monday. Dickerson was up about 2.1% on the purchase at the high point of today's trading session, with AMAT trading as high as $14.64 at last check today.
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