Top Buys by Directors: Dunn Jr.'s $205.7K Bet on SPH

Mar 5 2014, 1:26pm CST | by

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).

Click here to find out which other top insider buys by company directors you need to know about »

Dunn Jr. bets big on SPH:

Purchased Insider Title Shares Price/Share Value
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.


Special Offer: Find out how Dave Moenning is trading around the most recent insider transactions with a free 30 day trial and a special 20% off coupon from Forbes.

Source: Forbes Business

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