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 Neogen, a filing with the SEC revealed that on Thursday, CEO John Edward Adent purchased 23,035 shares of NEOG, for a cost of $11.03 each, for a total investment of $254,076. Neogen is trading off about 1.4% on the day Thursday. Before this latest buy, Adent made one other purchase in the past twelve months, buying $200,100 shares for a cost of $13.80 each.
And on Tuesday, President / CEO / Director Mike J. Taylor purchased $36,250 worth of Friedman Industries, purchasing 2,500 shares at a cost of $14.50 each. Before this latest buy, Taylor bought FRD on 6 other occasions during the past twelve months, for a total cost of $334,794 at an average of $15.22 per share. Friedman Industries is trading down about 0.3% on the day Thursday. Investors are able to snag FRD even cheaper than Taylor did, with the stock trading as low as $14.03 at last check today which is 3.2% under Taylor's purchase price.
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