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 a recent insider purchase of note.
At Central Securities, a filing with the SEC revealed that on Monday, Vice President Andrew J. O'neill bought 1,309 shares of CET, for a cost of $45.65 each, for a total investment of $59,756. So far O'neill is down about 0.5% on the purchase, with shares trading as low as $45.41 in trading on Wednesday. Central Securities is trading down about 0.1% on the day Wednesday. Before this latest buy, O'neill bought CET at 2 other times during the past year, for a total cost of $94,510 at an average of $43.88 per share.
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