Insiders reported on Thursday that they bought and sold stock in over 330 separate transactions in over 190 different companies. These transactions have to be reported within two days of the trade, so the transactions occurred sometime earlier this week. We culled through these 500 or so insider buys and sells (based on SEC Forms 3, 4, and 5 filings), as part of our daily and weekly coverage of insider trades, and present here the most notable trades reported on Thursday -- notable based on the dollar amount sold, the number of insiders selling, and based on whether the overall buying or selling represents a strong pick-up based on historical buying and selling in the stock (for more info on how to interpret insider trades, please refer to the end of this article):
LSI Corp. (NASDAQ:LSI): LSI is a designer of complex high-performance ICs and storage systems. Its silicon-to-systems solutions are at the heart of products that create, store, consume and transport digital information. Its ICs are used in hard disk and solid state drives, high-speed communications and storage systems, computer servers and PCs. On Thursday, EVP Jean Rankin filed SEC Form 4 indicating that she exercised options and sold the resulting 216,000 shares for $1.7 million, ending with 0.18 million shares. In comparison, insiders sold a total of 1.7 million shares in the past year. LSI has mounted a strong rally since the beginning of the year, and is up over 50% since mid-December. It gapped up on Thursday of last week after reporting strong Q4 report, and it currently trades at 11 forward P/E and 3.5 P/B compared to averages of 17.4 and 1.9 for its peers in the electronic components semiconductor group.
Manitowoc Co. (NYSE:MTW): MTW is a manufacturer of cranes and related lifting equipment for the energy, petrochemical, construction and mining markets, and it also serves the foodservice industry by providing ice machines, ice/beverage dispensers and refrigeration products. On Thursday, two insiders, SVP Maurice Jones (13,029 shares) and Director Robert Stift (6,800 shares), filed SEC Forms 4 indicating that they sold a total of 19,829 shares for $0.3 million, both under 10b5-1 plans. In comparison, insiders sold a total of 27,852 shares in the past year. MTW just reported a good Q4 on Tuesday after the market-close, beating both analyst revenue ($1.03 billion v/s $0.96 billion) and earnings (14c v/s 13c) estimates; the stock currently trades at 10 forward P/E and 4.1 P/B compared with averages of 12.3 and 2.0 for the construction and mining machinery group.
DR Horton Inc. (NYSE:DHI): DHI builds single-family detached, as well as attached homes, such as town homes, duplexes, triplexes and condominiums, for first-time and move-up home buyers in 26 states and 72 metropolitan markets. On Thursday, three insiders, CEO Donald Tomnitz (283,754 shares), EVP Stacey Dwyer (72,000 shares), and EVP Bill Wheat (93,500), filed SEC Forms 4 indicating that they sold a total of 0.45 million shares for $6.3 million, with most of the shares sold acquired as a result of exercising options. DHI reported its Q4 last Friday, beating analyst earnings (9c v/s 5c) estimates; the stock currently trades at 19-20 forward P/E and 1.7 P/B compared to averages of 17.7 and 1.1 for its peers in the residential/commercial building group, while earnings are projected to rebound strongly from 23c in 2011 to 76c in 2013.
Teradyne Inc. (NYSE:TER): TER is a manufacturer of automatic test equipment products and services worldwide for the automotive, communications, consumer, computer and electronic game markets. On Thursday, two insiders, President Mark Jagiela (73,207 shares) and VP Charles Gray (13,550), filed SEC Forms 4 indicating that they sold a total of 86,757 shares for $1.4 million, with a majority of the shares sold acquired as a result of exercising options. TER reported a good Q4 just last week, on January 25th, beating analyst revenue ($297 million v/s $285 million) and earnings (16c v/s 12c) estimates; its shares trade at 9-10 forward P/E and 2.1 P/B compared to averages of 15.0 and 2.2 for its peers in the electronic test equipment group, while earnings are projected to rise from $1.39 in 2011 to $1.73 in 2012 at a 11.6% annual growth rate.
Corporate Office Properties Trust (NYSE:OFC): OFC is a specialty office REIT that focuses on strategic customer relationships and specialized tenant requirements in the U.S. government and defense IT sectors, and data centers serving such sectors. On Thursday, Director Clay Hamlin filed SEC Form 4 indicating that he sold 10,000 shares for $0.25 million. In comparison, insiders sold 22,000 shares in the past three months, and 234,529 shares in the past year.
On top of these, some additional large insider trades on Thursday included a $1.6 million sale by Corporate Vice President Steven Anenen at BPO services company Automatic Data Processing (NASDAQ:ADP); a $2.5 million sale by two insiders, SVP Murray Goldberg and SVP Robert Terifay, pursuant to 10b5-1 plans, at biotech company Regeneron Pharmaceuticals (NASDAQ:REGN); a $4.8 million sale by two insiders, Vice Chairman of the Board Peter Sperling and Executive Chairman of the Board John Sperling, pursuant to 10b5-1 plans, at secondary education provider Apollo Group Inc. (NASDAQ:APOL); a $28.6 million sale by Chairman & CEO Christopher Connor at paint and coating store chain operator Sherwin-Williams Co. (NYSE:SHW); and a $2.1 million sale by Chairman & CEO John McConnell at diversified metals processing company Worthington Industries (NYSE:WOR).
Credit: Fundamental data in this article were based on SEC filings, I-Metrix® by Edgar Online®, Zacks Investment Research, Thomson Reuters and Briefing.com. The information and data is believed to be accurate, but no guarantees or representations are made.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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