According to Insider Data, these are the largest CEO buys during the past week: Seagate Technology (STX), Blyth Inc. (BTH), MBIA Inc. (MBI), SanminaSCI Corp. (SANM), and Community Bank System Inc. (CBU)
- Seagate Technology: CEO, Director Stephen J Luczo Bought 500,000 Shares
CEO, Director of Seagate Technology Stephen J Luczo bought 500,000 shares on 01/27/2009 at an average price of $3.79. Seagate Technology is the worldwide leader in the design manufacture and marketing of hard disc drives providing products for a wide-range of applications including Enterprise Desktop Mobile Computing Consumer Electronics and Branded Solutions. The company has a market cap of $2.14 billion; its shares were traded at around $3.79 with a P/E ratio of 2.4 and P/S ratio of 0.17. The dividend yield of Seagate Technology stocks is 10.93%. Seagate Technology had an annual average earning growth of 21.1% over the past 5 years.
Seagate Technology recently reported its fiscal second quarter 2009 results. The company announced that it had a revenue of $2.3 billion, a net loss of $496 million, and a net loss per share of $1.02.
Steve Luczo, chairman, president and chief executive officer, said:
We remain focused on executing against our business plan and on aligning the company’s cost structure with the current economic reality. We continue to believe that Seagate has a solid future and view the long-term prospects for storage to be positive; however, there are significant near-term challenges facing Seagate that we believe could potentially continue through the end of the calendar year and into 2010. The Board and management team are focused on structuring our business accordingly, building liquidity and strengthening the balance sheet to ensure that we are competitive throughout a period of extended macroeconomic decline. Our technology assets, investments and capabilities remain intact and we are making smarter and faster decisions to improve execution. We continue to believe that the fundamental core strengths that Seagate possesses, when fully leveraged, will result in product leadership across all markets in our industry.
Joel Greenblatt bought 36,457 shares in the quarter that ended on 09/30/2008, which is 0.7% of the $63 million portfolio of Gotham Capital. David Dreman owns 263,090 shares as of 09/30/2008, an increase of 122.79% from the previous quarter. This position accounts for 0.03% of the $10.85 billion portfolio of Dreman Value Management. John Hussman owns 500,000 shares as of 09/30/2008, which accounts for 0.17% of the $3.49 billion portfolio of Hussman Economtrics Advisors, Inc. NWQ Managers sold out his holdings in the quarter that ended on 09/30/2008.
EVP, PLANNING & DEVELOPMT Charles C Pope sold 11,800 shares of STX stock on 10/27/2008 at the average price of $6.93; the price of the stock has decreased by 45.31% since.
- Blyth Inc.: Chairman of the Board and CEO, Director, 10% Owner Robert B Goergen Bought 89,830 Shares
Chairman of the Board and CEO, Director, 10% Owner of Blyth Inc. Robert B Goergen bought 89,830 shares on 01/30/2009 at an average price of $3.41. Blyth Inc. operates in the home fragrance products market. The company has a market cap of $169.28 million; its shares were traded at around $3.41 with a P/E ratio of 3 and P/S ratio of 0.15. The dividend yield of Blyth Inc. stocks is 11.34%.
Director Pamela M Goergen bought 89,830 shares of BTH stock on 01/30/2009 at the average price of $3.66; the price of the stock has decreased by 6.83% since.
- MBIA Inc.: Chairman and CEO, Director Joseph W Brown Bought 75,000 Shares
Chairman and CEO, Director of MBIA Inc. Joseph W Brown bought 75,000 shares on 01/23/2009 at an average price of $3.86. MBIA Incorporated is engaged in providing financial guaranteeinsurance and investment management and financial services to public finance clients and financial institutions on a global basis. It has a market cap of $1.12 billion; its shares were traded at around $3.86 with and P/S ratio of 0.36. MBIA Inc. had an annual average earning growth of 18.9% over the past 10 years.
MBIA recently reported its results for the first nine months of 2008. The company announced a loss of about $7 per share for the three quarters, compared to a gain of $2.84 per share in the first three months of 2007.
Irving Kahn owns 1,188,430 shares as of 09/30/2008, an increase of 104.13% from the previous quarter. Martin Whitman owns 23,649,845 shares as of 07/31/2008, which accounts for 1.88% of the $4.68 billion portfolio of Third Avenue Value Fund. Third Avenue Management owns 30,840,022 shares as of 09/30/2008, a decrease of 21% of from the previous quarter. Jean-Marie Eveillard and Bill Miller both sold out their holdings in the quarter that ended on 09/30/2008.
Vice President and CFO C Edward Chaplin bought 25,680 shares of MBI stock on 10/10/2008 at the average price of $8.02; the price of the stock has decreased by 51.87% since.
- SanminaSCI Corp.: Chairman and CEO, Director Jure Sola Bought 575,000 Shares
Chairman and CEO, Director of SanminaSCI Corp. Jure Sola bought 575,000 shares on 01/26/2009 at an average price of $0.33. Sanmina-Sci Corporation provides electronic manufacturing services including turnkey electronic assembly and manufacturing management services. It has a market cap of $195.06 million; its shares were traded at around $0.33 with a P/E ratio of 3.4 and P/S ratio of 0.03. SanminaSCI Corp. had an annual average earning growth of 0.5% over the past 5 years.
Sanmina-Sci recently reported its fourth quarter 2008 and year end 2008 results. The company said that its Revenue was $1.7 Billion, Non-GAAP Operating Margin was 3.5 Percent, which was up 220 Basis Points Year-over-Year, its Diluted Earnings Per Share were 5 cents, and that the company broke-even onGAAP Earnings Per Share.
Joel Greenblatt bought 285,050 shares in the quarter that ended on 09/30/2008, which is 0.63% of the $63 million portfolio of Gotham Capital. Jean-Marie Eveillard owns 150,000 shares as of 09/30/2008, which accounts for less than 0.01% of the $9.67 billion portfolio of Arnhold & S. Bleichroeder Advisers, LLC. Charles Brandes owns 25,049,058 shares as of 09/30/2008, which accounts for 0.13% of the $27.58 billion portfolio of Brandes Investment.
- Community Bank System Inc.: President & CEO, Director Mark E Tryniski Bought 5,000 Shares
President & CEO, Director of Community Bank System Inc. Mark E Tryniski bought 5,000 shares on 01/28/2009 at an average price of $17.95. Community Bank System Inc. is a bank holding company. Community Bank System Inc. has a market cap of $670.87 million; its shares were traded at around $17.95 with a P/E ratio of 13 and P/S ratio of 2.17. The dividend yield of Community Bank System Inc. stocks is 4.28%. Community Bank System Inc. had an annual average earning growth of 1.7% over the past 10 years.
CBU recently reported its fourth quarter and full year 2008 results. Full-year 2008 net earnings of $45.9 million, or $1.49 per share, were 7.1% above 2007 reported earnings of $42.9 million, or $1.42 per share. The Company’s improved earnings were driven by strong organic loan and core deposit growth, continued expansion of non-interest revenues, an improved net interest margin, and continued favorable asset quality. For the year, cash earnings per share (which excludes the after-tax effect of the amortization of intangible assets, acquisition-related market value adjustments, and goodwill impairment charges) were $1.73, which is $0.24 per share, or 16.1% above GAAP-reported results.
Director Charles E Parente bought 30,000 shares of CBU stock on 01/28/2009 at the average price of $19.73; the price of the stock has decreased by 9.02% since.