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 American Express (NYSE:AXP), a filing with the SEC revealed that on Tuesday, Director Ronald A. Williams bought 18,040 shares of AXP, for a cost of $55.51 each, for a total investment of $1.00M. Bargain hunters are able to buy AXP even cheaper than Williams did, with the stock trading as low as $53.05 at last check today -- that's 4.4% under Williams's purchase price. American Express is trading up about 1.1% on the day Friday. Before this latest buy, Williams made one other buy in the past twelve months, purchasing $1.10M shares for a cost of $80.98 a piece.
And on Wednesday, SVP Ops & Supply Chain Mgmt John Alfred Klein purchased $195,850 worth of Apogee Enterprises (NASDAQ:APOG), purchasing 5,000 shares at a cost of $39.17 a piece. Apogee Enterprises is trading up about 3.8% on the day Friday. Investors can snag APOG at a price even lower than Klein did, with shares trading as low as $37.44 in trading on Friday -- that's 4.4% under Klein's purchase price.
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