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 Tiffany, a filing with the SEC revealed that on Tuesday, Director Francesco Trapani bought 48,936 shares of TIF, at a cost of $89.16 each, for a total investment of $4.36M. Tiffany is trading up about 1.9% on the day Thursday.
And at J.M. Smucker, there was insider buying on Tuesday, by Executive Chairman Richard K. Smucker who bought 10,000 shares at a cost of $105.40 each, for a trade totaling $1.05M. This purchase marks the first one filed by Smucker in the past twelve months. J.M. Smucker is trading up about 0.6% on the day Thursday. Investors are able to snag SJM even cheaper than Smucker did, with shares changing hands as low as $104.01 in trading on Thursday -- that's 1.3% below Smucker's purchase price.
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