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 RPM International (NYSE:RPM), a filing with the SEC revealed that on Monday, Director John M. Ballbach purchased 8,100 shares of RPM, for a cost of $62.12 each, for a total investment of $503,163. RPM International is trading up about 0.8% on the day Wednesday.
And on Tuesday, Director Frederick Blair Wimbush bought $49,980 worth of Union Bankshares Corp (NASDAQ:UBSH), buying 1,200 shares at a cost of $41.65 each. Union Bankshares Corp is trading down about 0.1% on the day Wednesday.
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