GuruFocus Premium Membership

Serving Intelligent Investors since 2004. Only 96 cents a day.

Free Trial

Free 7-day Trial
All Articles and Columns »

Weekly Top Insider Buys: Northern Trust Corp., Starwood Hotels & Resorts Worldwide Inc., Post Properties Inc., Jacksonville Bancorp Inc., Titanium Metals Corp.

November 13, 2007 | About:

Weekly highlight of insider buys. Related companies: Northern Trust Corp. (NTRS), Starwood Hotels & Resorts Worldwide Inc., Post Properties Inc. (PPS), JACKSONVILLE BANCORP INC (JAXB), Titanium Metals Corp. (TIE)

Northern Trust Corp. (NTRS): Director Robert C Mccormack Bought 115,010 Shares

Director of Northern Trust Corp. (NTRS) Robert C. Mccormack bought 115,010 shares last Monday at $72.80. Since October, Mccormack has purchased a total of 276,520 shares at range of $69.42 to $72.80.

Northern Trust Corporation operates as the holding company for The Northern Trust Company (bank) that provides a range of banking and financial services in the U.S. and internationally. Northern Trust Corp. has a market cap of $17.07 billion; its shares were traded at around $76.11 with P/E ratio of 22.44 and P/S ratio of 5.08. The dividend yield of Northern Trust Corp. stocks is 1.5%.

NTRS sells $400 Million worth of notes in two parts, or two sets of $200 Million. The company wants to use the money to fund additional contributions to the capital of its subsidiaries. NTRS have avoided the housing and credit crisis through the strong demand for private banking and institutional financial services. The company upped their shares by 19% in the last half year. Analysts predict their shares to rise by at least 10% annually. According Currently, NTRS have assets under custody of $4.1 trillion, and assets under investment management of $761.4 billion.

Guru Bruce Sherman, who owns 8,479,825 shares, increased his NTRS holding by 125.51% from the previous quarter, which is 2.54% of the $21.42 billion portfolio from Private Capital Management. Also, Guru Tom Gayner, who owns 130,000 shares, increased his holdings by 18.18% in his $1.94 billion portfolio of Markel Gayner Asset Management Corp. Gurus Kenneth Fisher, John Keeley, and John Rogers kept their holdings unchanged. NWQ Managers sold out their NTRS holdings.

A large volume of insider sells were made by the CEO, and other directors & officers around $64.30 to $72.45, since July: William A. Osborn, Chairman & CEO of NTRS, sold 33,150 shares; EVP William L. Morrison sold 45,572 shares; Director Harold B. Smith sold a total of 39,482 shares; Executive Vice Presidents Clair Joyce St., Stephen N. Potter, and Timothy P. Moen sold 18,958 shares, 10,000 shares, and 1,500 shares, respectively.

 

Starwood Hotels & Resorts Worldwide Inc. (HOT): Director Bruce W Duncan Bought 50,000 Shares

Bruce W. Duncan, Director of Starwood Hotels & Resorts Worldwide Inc. (HOT) bought 50,000 shares last Monday at $54.93.

Starwood Hotels & Resorts Worldwide, Inc. operates as a hotel and leisure company worldwide. It primarily operates luxury and upscale full-service hotels, and resorts. The company owns Sheraton, Westin, W Hotels and other chains. Starwood Hotels & Resorts Worldwide Inc. has a market cap of $10.68 billion; its shares were traded at around $51.82 with P/E ratio of 19.15 and P/S ratio of 1.71. The dividend yield of Starwood Hotels & Resorts Worldwide Inc. stocks is 0.8%.

Starwood reported a third quarter net income of $129 million, or $0.61 a share, compared to the previous year $155 million, or $0.71. The decline is due to a lodging industry slowdown in the U.S. market. The board of directors from Starwood approved a $1 billion company stock buy back, and raised the annual dividend by 7% to $0.90. The company repurchased about 19.2 million shares for about $1.22 billion over the last nine months.

Guru Ron Baron increased his hold by 57.14% from the previous quarter to 41,250 shares in the $19.54 billion portfolio of Baron Funds.

Kenneth S. Siegel, CAO & General Counsel, sold 97,508 shares at $72.41. Director Jean-marc Chapus sold 14,995 shares since June at $56.04 to $72.41.

Post Properties Inc. (PPS): Director Robert C. Goddard III Bought 15,000 Shares

Robert C. Goddard III, Director of Post Properties Inc. (PPS), bought 15,000 shares of PPS stock on Tuesday at $38.29.

Post Properties, Inc. is an Atlanta-based multifamily real estate investments trust (REIT). Post Properties Inc. has a market cap of $1.64 billion; its shares were traded at around $37.02 with P/E ratio of 10.13 and P/S ratio of 5.17. The dividend yield of Post Properties Inc. stocks is 4.9%.

PPS reported a net income of $9.1 million, or $0.21 a share compared to the previous year $33.9 million, or $0.77. The company expanded its credit facility by $150 million to fund the company's growth. PPS has a $600 million line of credit with a $260 million debt. As of the third quarter, the company's development projects totaled $435.9 million; adding the pre-planned development, the projects totaled $750 million. Currently, the Dallas-based Post plans to begin construction of Post Frisco Bridges, a 5-acre mixed use development in Frisco near the Dallas North Toll Way. For the first phase of Post Frisco Bridges, PPS designed 269 luxury apartment homes and 29,000 square feet of retail to be built. Also, Atlanta-based Post will begin construction one year from today.

 

JACKSONVILLE BANCORP INC (JAXB): Director John W Rose Bought 20,000 Shares

Director of Jacksonville Bancorp Inc (JAXB) John W. Rose bought 20,000 shares on Monday at $27.72. Director Rose bought another 8,050 shares in early-June at $30.20.

Jacksonville Bancorp, Inc. operates as the holding company for The Jacksonville Bank, which provides a range of community banking services to businesses and individuals in Duval County, Florida. Jacksonville Bancorp, Inc has a market cap of $43.19 million; its shares were traded at around $24.892 with P/E ratio of 16.89 and P/S ratio of 3.47.

In the third quarter, Jacksonville Bancorp Inc reported record earnings of $781 thousand, or $0.43 compared to a previous $677 thousand, or $0.37. The third quarter net income increased by 12.5% compared the second quarter. CEO and President Gilbert J. Pomar III said, "The Company is especially proud of these results when so many in our industry are facing difficult times. Our ongoing commitment to organic growth and asset quality has served us well. We're also beginning to see results from our 'Deliver the Bank' initiative, which is focused on core deposit growth."

Another big buy was made by Director R. C. Mills; he bought 15,500 shares at $30.90. As of June, Director Bennett Allen Tavar made a sell of 6,402 shares at $28. to $30.

 

Unifi Inc. (UFI): Director Kenneth G Langone Bought 120,700 Shares

Director of Unifi Inc. (UFI) Kenneth G. Langone bought 120,700 shares on Monday; as of late-October, he has purchased a total of 311,700 shares at $2.65 to $2.78.

Unifi, Inc. is a textile manufacturer that produces and processes multifilament polyester and nylon yarns, including specialty yarns. It operates in two segments, Polyester and Nylon. Unifi Inc. has a market cap of $172.54 million; its shares were traded at around $3 with P/S ratio of 0.26.

For the first quarter, UFI reported a loss of $9.2 million, or $0.15, for its fiscal first quarter. Comparing to the previous year, the company has decreased its loss by 8.9%. Early October, UFI also announced its new CFO, Ronald Smith; also, earlier in the summer, CEO of UFI was fired and board of directors resigned. According to analyst, the company lost money for many years due to price drops and production shifts to overseas.

As of August, huge insider buys were made around $2.25 to $2.69 a share. The Vice President, COO, and CFO of UFI, William M. Lowe Jr, bought 10,000 shares; Director G. Alfred Webster bought 50,000 shares; Director William M. Sams bought 270,000 shares; Vice President William L. Jasper bought 5,000 shares.

 

Titanium Metals Corp. (TIE): Director Terry N. Worrell Bought 80,000 Shares; Chairman Harold C. Simmons 70,000

Director of Titanium Metals Corp. (TIE), Terry N. Worrell, bought 10,000 shares on Monday at $30.06. Director Worrell bought 80,000 shares at about $28.44 to $30.34, since June.

Titanium Metals Corporation produces titanium melted and mill products for commercial aerospace, military, industrial, and other applications worldwide. Titanium Metals Corp. has a market cap of $4.3 billion; its shares were traded at around $28.6 with P/E ratio of 15.25 and P/S ratio of 3.56.

The company's income dropped to $52.3 million, from $52.7 million in the previous year. TIE plans to buy back $100 million of company stock. Analysts say companies buy back their stock when they have cash or affordable financing.

Since June, Vice Chairman, CEO, and Director of TIE, Steven L. Watson, bought a total of 8,000 shares at $29.91 to $31.84. Another big buy were made by the Chairman of the Board, Harold C. Simmons; he bought 70,000 shares on 09/07 at $26.83 to $31.11.

Guru John Keeley increased his ownership to 23,000 shares as of 09/30, which is of 17.95% since the last quarter. Guru T. Boone Pickens kept his 558,811 shares unchanged as of 06/30.

  • CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs.
  • Insider Cluster Buys: Stocks that multiple company officers and directors have bought.
  • Double Buys:: Companies that both Gurus and Insiders are buying
  • Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back.

» Take a Free Trial of Premium Membership


Rating: 2.9/5 (10 votes)

Comments

Please leave your comment:


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK