As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Sherwin-Williams, a filing with the SEC revealed that on Wednesday, CEO John G. Morikis bought 2,125 shares of SHW, for a cost of $237.60 each, for a total investment of $504,890. Morikis was up about 1.5% on the buy at the high point of today's trading session, with SHW trading as high as $241.26 in trading on Thursday. Sherwin-Williams is trading trading flat on the day Thursday. Before this latest buy, Morikis made one other purchase in the past year, buying $500,327 shares for a cost of $226.70 each.
And at Neogen, there was insider buying on Wednesday, by Chief Operating Officer Douglas Edward Jones who purchased 10,000 shares for a cost of $15.17 each, for a trade totaling $151,727. Before this latest buy, Jones made one other purchase in the past year, buying $44,775 shares at a cost of $17.91 each. Neogen is trading up about 3.7% on the day Thursday.
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