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 Kennametal, a filing with the SEC revealed that on Tuesday, CEO Sanjay Chowbey bought 10,000 shares of KMT, for a cost of $21.75 each, for a total investment of $217,530. Kennametal Inc. is trading up about 3.8% on the day Wednesday. Before this latest buy, Chowbey purchased KMT at 2 other times during the past year, for a total cost of $381,403 at an average of $25.43 per share.
And at Reynolds Consumer Products, there was insider buying on Monday, by Director Rolf Stangl who purchased 6,000 shares for a cost of $24.89 each, for a total investment of $149,313. Before this latest buy, Stangl bought REYN at 2 other times during the past twelve months, for a total investment of $297,633 at an average of $27.33 per share. Reynolds Consumer Products Inc is trading up about 0.7% on the day Wednesday. Bargain hunters are able to bag REYN even cheaper than Stangl did, with the stock changing hands as low as $24.50 in trading on Wednesday -- that's 1.5% under Stangl's purchase price.
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