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Top Insider Trades 11/1/12: BLK, IBM, MJN, APD

|Includes:APD, BlackRock, Inc. (BLK), IBM, MJN

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In a victory for common sense, the trading behavior of company executives, directors, and large shareholders in the stocks of firms they're registered "insiders" at have been proven profitable to monitor by both academic studies and (more importantly) the experience of professional investors.

Below are lists of the top 10 mainly open-market insider purchases and sales filed at the Securities and Exchange Commission Thursday, November 1, 2012 as ranked by dollar value.

Please note, however, that these are factual lists (with edits to remove some noise), not buy and sell recommendations. Dollar value is only one metric to assess the importance of an insider transaction, and, frankly, often not even the most important metric that determines if an insider transaction is significant.

We should also point out that we are presently in a slow filing time for insiders because many companies still have their trading windows closed to their executives until their June quarter earnings are released.

But at, we find new investment ideas just about every day using these and more intricate insider screens to determine where we should focus our subsequent fundamental and technical analysis. And while stocks don't (or shouldn't) move up or down based on insider activity alone, insiders tend to be good indicators of when real stock-moving events like earnings surprises, corporate actions, and new products may be in the offing.

So use these regular blog posts as the initial research tools they are meant to be, and click the links in the tables to analyze a company's or insider's full insider history. Also feel free to email with any questions on our proprietary insider data, and how it is best analyzed.

Insider Purchases
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Grosfeld James DIR Blackrock BLK B $8,017,960
Srinivasan Mallika DIR AGCO AGCO AB $1,391,635
Cornelius James M DIR Mead Johnson Nutr MJN B $617,515
McGlade John E CB,PR,CEO Air Products & Chem APD B $467,325
Macleod Donald DIR Intersil ISIL B $363,250
Frost Phillip MD CEO,CB,BO Opko Health OPK B $320,955
Robo James L DIR Hunt J B Transport JBHT B $258,705
Feinberg Larry N BO Hansen Medical HNSN B $180,509
Brewer Oliver G III PR,CEO,DIR Callaway Golf ELY B $110,000
Zucaro Aldo C CB,CEO,DIR Old Republic Intl ORI B $104,475
Click to enlarge

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Adkins Rodney C VP IBM IBM S $2,245,776
Woodhouse M A DIR Cracker Barrel CBRL AS $1,754,230
Kassling William E DIR Westinghouse Air WAB S $1,642,663
VA Retirement Sys BO Blackrock Kelso Cap BKCC S $1,446,907
Garcia Cesar M PR,CEO,DIR Iris International IRIS S $1,270,211
Cremers Eric J VP Potlatch PCH S $957,500
Lightyear Fund II BO Higher One ONE AS $941,726
Popoff Peter VP,PR Parker Hannifin PH S $703,100
Singh Sudhir Steven CEO,CB,DIR Concur Technologies CNQR AS $663,473
Druten Robert J DIR Kansas City Southern KSU S $643,760
Click to enlarge

Source: | Key to Insider Title and Trans Type Codes

Stocks: BLK, IBM, MJN, APD