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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Thursday, Fastenal's Director, Michael J. Ancius, made a $29,049 buy of FAST, purchasing 600 shares at a cost of $48.41 a piece. Fastenal Co. is trading down about 0.5% on the day Tuesday. Before this latest buy, Ancius purchased FAST at 4 other times during the past year, for a total cost of $81,275 at an average of $39.74 per share.
And on Monday, Director Nancy E. Calderon bought $14,776 worth of Northern Technologies International, buying 1,000 shares at a cost of $14.78 a piece. Before this latest buy, Calderon made one other purchase in the past twelve months, buying $8,600 shares at a cost of $8.60 a piece. Northern Technologies International is trading up about 3.5% on the day Tuesday.
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