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 Archer Daniels Midland (NYSE:ADM), a filing with the SEC revealed that on Thursday, Director Donald E. Felsinger purchased 60,000 shares of ADM, for a cost of $41.80 each, for a total investment of $2.51M. Archer Daniels Midland is trading up about 1% on the day Friday.
And at Idexx Laboratories (NASDAQ:IDXX), there was insider buying on Tuesday, by Director Lawrence D. Kingsley who bought 2,405 shares at a cost of $208.68 each, for a total investment of $501,875. Before this latest buy, Kingsley made one other buy in the past twelve months, purchasing $178,045 shares for a cost of $178.04 a piece. Idexx Laboratories is trading off about 0.8% on the day Friday. Bargain hunters can bag IDXX at a price even lower than Kingsley did, with shares trading as low as $204.81 in trading on Friday which is 1.9% below Kingsley's purchase price.
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