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There are many different strategies to trade stocks and one of them is to find insider trading of stocks. When corporate insiders trade in their own securities, they must report their trades to the Securities and Exchange Commission (SEC), usually within a few business days of the trade. Insider trading cannot be based on material non-public information. However, many investors believe that corporate insiders may have better insight into the growth of the company and its proceedings.

In this article, I will focus on notable insider buy transactions (market cap greater than $250 million) filed at the Securities and Exchange Commission on August 06, 2012. I have also included the key financial metrics for the first three companies. You can use this list as a potential starting point for your analysis.

Definition of Insider: Corporate insiders are either a company's officers, directors, or any beneficial owners of more than ten percent of a class of the company's equity securities registered under Section 12 of the Securities Exchange Act of 1934.

Rule 10b5-1 Definition: A rule established by the SEC that allows insiders of publicly-traded corporations to create a trading plan of when and how to buy or sell shares in that company. Rule 10b5-1 allows major holders to buy or sell a predetermined number of shares at a predetermined time. 10b5-1 plans are used by many corporate insiders to avoid the accusations of insider trading, regardless of what nonpublic knowledge he/she may later come to possess.

1. Valley National Bancorp (NYSE:VLY): Valley National Bancorp operates as the bank holding company for the Valley National Bank that provides various commercial, retail, trust, and investment services. Valley National Bancorp has a market cap of $1.94 billion and is currently trading around $9.39 with a 52-week range of $9.10 to $12.69. The stock has fallen 20.29% year to date.

According to SEC filings on August 06, 2012, Valley National Bancorp had two insiders combine purchased a total of 51,500 shares at a total value of $475,879. Multiple insider purchases are usually a positive sign. On July 26, 2012, Valley National Bancorp reported its second-quarter earning results with net income of $32.8 million, or $0.17 per diluted common share as compared to the second quarter of 2011 earnings of $36.9 million, or $0.21 per diluted common share. Over the past three months, there have been a total of five insider transactions with three Buy transactions. The key financial metrics for Valley National Bancorp are given below:

The following chart provides the insider trading summary for three-month and 12-month periods.

2. Federal-Mogul Corporation (NASDAQ:FDML): Federal-Mogul Corporation supplies powertrain and safety technologies worldwide. Federal-Mogul has a market cap of $973.18 million and is currently trading around $9.84 with a 52-week range of $8.67 to $19.28. The stock has fallen 33.29% year to date.

According to SEC filings on August 06, 2012, Icahn Carl C (Beneficial Owner and Non-executive Board Chairman) purchased a total of 41,500 shares at a total value of $382,124. Please refer to the footnote in Form 4 for more details on the ownership. Over the past three months, there have been a total of four insider transactions and all of them are Buy transactions. The key financial metrics for Federal-Mogul are given below:

The following chart provides the insider trading summary for three-month and 12-month periods.

3. CNO Financial Group Inc (NYSE:CNO): CNO Financial Group engages in the development, marketing, and administration of health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. CNO Financial Group has a market cap of $1.97 billion and is currently trading around $8.5 with a 52-week range of $4.73 to $8.66. The stock has gained 34.71% year to date.

According to SEC filings on August 06, 2012, Sievert Frederick James (Director) purchased a total of 12,000 shares at a total value of $95,400. On August 01, 2012, CNO declared a quarterly cash dividend of $0.02 per share and the dividend will be payable September 24, 2012, to shareholders of record at the close of business on September 10, 2012. Over the past three months, there have been a total of 15 insider transactions with 11 Buy transactions. The key financial metrics for CNO Financial Group are given below:

The following chart provides the insider trading summary for three-month and 12-month periods.

Other notable insider buy transactions (minimum of 5,000 shares) filed at the SEC on August 06, 2012, are as follows:

4. Omnicare, Inc (NYSE:OCR): Omnicare operates as a healthcare services company that specializes in the management of pharmaceutical care in the United States and Canada. Omnicare has a market cap of $3.50 billion and is currently trading around $31.41 with a 52-week range of $20.36 to $36.48.The stock has fallen 8.82% year to date. According to SEC filing on August 06, 2012, Sahney Nitin (COO & President, SCG) purchased a total of 10,000 shares at a total value of $320,000.

5. Sequenom, Inc (NASDAQ:SQNM): Sequenom provides products, services, diagnostic testing, applications, and genetic analysis products that translate the results of genomic science into solutions for biomedical research, translational research, molecular medicine applications, and agricultural and livestock research. Sequenom has a market cap of $379.21 million and is currently trading around $3.31 with a 52-week range of $2.65 to $6.30. The stock has fallen 25.62% year to date. According to SEC filings on August 06, 2012, Beaver Carolyn (VP and Chief Accounting Office) purchased a total of 10,000 shares at a total value of $31,299.

6. EarthLink, Inc (NASDAQ:ELNK): EarthLink provides network, communications, and IT services to business and residential customers in the United States. EarthLink has a market cap of $696.67 million and is currently trading around $6.56 with a 52-week range of $5.94 to $8.59.The stock has gained 1.86% year to date. According to SEC filings on August 06, 2012, Huff Rolla P (Chief Executive Officer) purchased a total of 10,000 shares at a total value of $31,299.

7. Atmel Corporation (NASDAQ:ATML): Atmel Corporation designs, develops, manufactures, and sells semiconductor integrated circuit (IC) products. Atmel has a market cap of $2.55 billion and is currently trading around $5.74 with a 52-week range of $5.34 to $11.72. The stock has fallen 29.14% year to date. According to SEC filings on August 06, 2012, Torossian Papken Der (Director) purchased a total of 10,000 shares at a total value of $55,671.

8. Affymetrix, Inc (NASDAQ:AFFX): Affymetrix engages in the development, manufacture, sale, and servicing of consumables and systems for genetic analysis in the life sciences and clinical healthcare markets primarily in the United States, Europe, Japan. Affymetrix has a market cap of $284.62 million and is currently trading around $4.04 with a 52-week range of $3.68 to $5.95. The stock has fallen 1.22% year to date. According to SEC filings on August 06, 2012, Last Andrew J (EVP and GM, GABU) purchased a total of 10,000 shares at a total value of $40,600.

9. MAKO Surgical Corp (NASDAQ:MAKO): MAKO Surgical is a medical device company, markets its advanced robotic arm solution and orthopedic implants for orthopedic procedures in the United States and internationally. MAKO Surgical has a market cap of $565.27 million and is currently trading around $13.26 with a 52-week range of $11.99 to $45.15. The stock has fallen 47.4% year to date. According to SEC filings on August 06, 2012, MAKO Surgical had two insiders combine purchased a total of 9,775 shares at a total value of $126,463. Multiple insider purchases are usually a positive sign.

10. TrustCo Bank Corp NY (NASDAQ:TRST): TrustCo Bank Corp NY operates as the holding company for Trustco Bank that provides general banking services to individuals, partnerships, and corporations. TrustCo has a market cap of $516.12 million and is currently trading around $5.51 with a 52-week range of $3.73 to $5.79.The stock has fallen 1.78% year to date. According to SEC filings on August 06, 2012, Mccormick Robert J (President & CEO) purchased a total of 9,226 shares at a total value of $49,996.

11. Photronics, Inc (NASDAQ:PLAB): Photronics engages in the manufacture and sale of photomasks primarily in the United States, Europe, and Asia. Photronics has a market cap of $362.34 million and is currently trading around $6 with a 52-week range of $4.58 to $7.70. The stock has fallen 1.32% year to date. According to SEC filings on August 06, 2012, Photronics had three insiders combine purchased a total of 7,201 shares at a total value of $34,931. Multiple insider purchases are usually a positive sign.

12. First Bancorp (NYSE:FBP): First Bancorp operates as the holding company for FirstBank Puerto Rico that provides a range of financial products and services to retail, commercial, and institutional clients. First Bancorp has a market cap of $764.74 million and is currently trading around $3.71 with a 52-week range of $2.50 to $4.99.The stock has gained 6.3% year to date. According to SEC filings on August 06, 2012, Rodriguez Perello Jose F (Director) purchased a total of 5,000 shares at a total value of $17,700.

Some of the data is sourced from Google Finance, Nasdaq, Finviz, Fidelity, and SEC.gov.

Additional Disclosure: I change my positions very frequently and may initiate either long or short positions in the above mentioned stocks at any time.

Disclaimer: I am not a registered investment advisor and do not provide specific investment advice. The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities. Before buying or selling any stock you should do your own research and reach your own conclusion. It is up to investors to make the correct decision after necessary research. The information and data is believed to be accurate, but no guarantees or representations are made.

Source: Notable Insider Buys Filed On August 6