Mar 5 2014, 1:26pm CST | by Forbes
The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $205.7K by Michael J. Dunn Jr., CEO at Suburban Propane Partners L.P. (NYSE: SPH).
Dunn Jr. bets big on SPH:
|03/05/2014||Michael J. Dunn Jr.||President and CEO||5,000||$41.13||$205,650.00|
Dunn Jr.’s average cost works out to $41.13/share. In trading on Wednesday, bargain hunters could buy shares of Suburban Propane Partners L.P. (NYSE: SPH) and achieve a cost basis lower than Dunn Jr., with shares changing hands as low as $40.90 per share. Shares of Suburban Propane Partners L.P. were changing hands at $42.04 at last check, trading up about 1.2% on Wednesday. The chart below shows the one year performance of SPH shares, versus its 200 day moving average:
Looking at the chart above, SPH’s low point in its 52 week range is $40.90 per share, with $50.25 as the 52 week high point — that compares with a last trade of $42.04.
The current annualized dividend paid by Suburban Propane Partners L.P. is $3.50/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 01/31/2014. Below is a long-term dividend history chart for SPH, which can be of good help in judging whether the most recent dividend with approx. 8.4% annualized yield is likely to continue.
According to the ETF Finder at ETFChannel.com, SPH makes up 2.01% of the MLP ETF (AMEX: MLPA) which is trading up by about 0.1% on the day Wednesday.
Source: Forbes Business/>/>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.
blog comments powered by Disqus