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.
On Friday, Kronos Worldwide's Vice Chairman of the Board, Robert D. Graham, made a $125,000 purchase of KRO, buying 10,000 shares at a cost of $12.50 each. Kronos Worldwide is trading up about 1.6% on the day Tuesday. This buy marks the first one filed by Graham in the past year.
And at Westlake Chemical Partners, there was insider buying on Monday, by Director Angela A. Minas who purchased 5,000 shares at a cost of $22.75 each, for a trade totaling $113,750. Westlake Chemical Partners is trading up about 0.3% on the day Tuesday. Bargain hunters have the opportunity to bag WLKP even cheaper than Minas did, with the stock trading as low as $22.50 in trading on Tuesday — that's 1.1% below Minas's purchase price.
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