With the third-quarter earnings reports winding down, one thing is for sure: the windows that have been closed for insiders to buy and sell stocks from their respective companies have opened — and are opened wide. With less than two months left in the 2015 trading year, and the markets hovering near the highest levels to date, the insider buying and selling is picking up speed.
We cover insider buying every week at 24/7 Wall St., and we like to remind readers that while insider buying is usually a very positive sign, it is not in of itself a reason to run out and buy a stock. Sometimes insiders and 10% owners have stock purchase plans set up at intervals to add to their holdings. That aside, it still remains a positive indicator.
Here are some of the companies that reported notable insider buying this past week.
Eastman Kodak Co. (NYSE: KODK) once ruled photography and was a prominent member of the Dow Jones Industrial Average. The rise of digital technology, and perhaps a failure to see the future, hammered the company, and it is rebuilding. Last week two big institutional buyers, who are 10% owners, and a top executive purchased stock. Blackstone and GSO Capital partners made two buys. One was 210,000 shares at prices between $12.37 and $13.79 that totaled $2.2 million. A second buy was 177,167 shares at $12.23 to $12.41, which cost another $2.2 million. The CEO bought 20,000 shares at $12.06 to $12.40 apiece. That buy totaled $244,000. The stock closed trading on Friday at $14.18, so the buys seem well timed all around.
Ultratech Inc. (NASDAQ: UTEK) was a once very prominent semiconductor capital equipment company, and a 10% owner was back buying more stock this past week. Dallas based Carlson Capital acquired 87,935 shares of the company at prices from $15.62 to $15.69 per share. The total for the purchase came to $1.4 million. Ultratech develops, manufactures and markets photolithography, laser thermal processing and inspection equipment. It supplies step-and-repeat photolithography systems based on one-to-one imaging technology for semiconductor device and nanotechnology manufacturers. The shares ended last week at $16.09.
Accuride Corp. (NYSE: ACW) had a 10% owner really backing up the truck last week. Coliseum Capital Management picked up a whopping 723,842 shares at prices between $2.44 and $2.60. The total for the purchase came to $1.8 million. Accuride designs, manufactures and distributes commercial vehicle components in North America. The stock was trading on Friday’s close at $2.59.
Hawaiian Telecom Holdco Inc. (NASDAQ: HCOM) had a 10% owner adding to a position this past week. Twin Haven Capital Partners bought a total of 60,670 shares of the company at a share price $23. The total for the buy came to $1.4 million. The company provides communications services and products to residential and business customers in Hawaii. The stock was trading at $23.49 as Friday’s trading concluded.
Tuesday Morning Corp. (NASDAQ: TUES) saw a director of the company buying stock this past week. That director bought a total of 136,900 shares of the retailer at prices ranging from $5.37 to $5.70. That cost the director $747,000. The company is a retailer of upscale decorative home accessories, housewares, seasonal goods and gifts in the United States. It offers various products, such as home décor, furniture, bed and bath, kitchen, toys, crafts and seasonal goods. The stock closed trading at $6.72 on Friday, so well timed, and maybe a sign to shareholders that things are turning around.
These companies also reported insider buying this week: Archer Daniels Midland Co. (NYSE: ADM), Healthways Inc. (NASDAQ: HWAY), ITT Corp. (NYSE: ITT), Opko Health Inc. (NYSE: OPK) and PacWest Bancorp (NASDAQ: PACW).
For the first time since the middle of the summer, we are starting to see insider buying and selling volumes pick up. With a short window left in the year, and the market possibly rallying back to even or slightly up, you can bet that volumes will continue to jump as we get into December.