This is the top insider buys of the week. Related Companies: American Express Company (AXP), Aquila Inc. (ILA), Williams Partners L.P. (WPZ), Holly Corp. (HOC), Pacific Sunwear of California Inc. (PSUN).
American Express Company (AXP): Director Peter Chernin Bought 3,500 Shares
Credit card companies, including American Express Company (AXP), will continue to have rise in delinquent payments until next year. American express recently won a $2.25 billion settlement against Visa and MasterCard. The company announced a third quarter earnings increase by 18% to $0.90, and an income increase by 15% to $1.1 billion.
While John Keeley bought 18,950 shares, both Richard Pzena and George Soros sold out their holdings in AXP. Currently, Warren Buffett owns 151,610,700 shares as of 09/30, which accounts for 13.68% of the $65.81 billion portfolio of Berkshire Hathaway. Eleven other gurus still own AXP shares: Robert Olstein,Wallace Weitz, Ron Baron, Jean-Marie Eveillard, Ruane Cunniff, Joel Greenblatt, Tom Gayner, Tweedy Browne, Chris Davis, Dodge & Cox, and Kenneth Fisher.
Director Peter Chernin made his buy of 3,500 shares last Friday at $57.12. EVP and CFO of AXP, Daniel T. Henry purchased 19,594 shares on 11/09 at $55.88. Other directors made purchases between $55.94 and $62.33: Jan Leschly bought 32,000 shares, Robert D. Walter bought 30,000 shares, Steven Reinemund bought 5,000 shares, Ursula M. Burns bought 3,000 shares, Daniel F. Akerson bought 5,000 shares; and Richard A. Mcginn bought 1,000 shares.
A large insider sell was made by CEO of U.S. Consumer Division, Judson C. Linville, who sold 65,027 shares between $58.90 and $59.33 as of August.
American Express Company has a market cap of $63.24 billion; its shares were traded at around $54.56 with P/E ratio of 15.92 and P/S ratio of 2.14. The dividend yield of American Express Company stocks is 1.3%.
Aquila Inc. (ILA): Director Nicholas J. Singer Bought 658,039 Shares
The gas and electric utility operator, Aquila Inc. (ILA), posted a third quarter net profit drop of 65% to $40.5 million or $0.11 compared to a previous $115.7 million or $0.31. In third quarter of 2006, Aquila took in a one-time large gain of $56 million from selling its Minnesota natural gas business. Early this year, the company sold Everest for $85.7 million to a private equity firm, Sea Capital Partners. Due to opposition from the utility regulatory commission, Aquila failed to make the $1.7 billion sale of power companies in Kansas City this quarter.
Director Nicholas J. Singer made his stock purchases last week: 260,000 shares at $3.76, and 398,039 shares at $3.93.
Aquila Inc. has a market cap of $1.45 billion; its shares were traded at around $3.91 with P/E ratio of 21.99 and P/S ratio of 1.02.
Williams Partners L.P. (WPZ): Director H. Michael Krimbill Bought 20,000 Shares
This December, Williams Partners LP (WPZ)—a natural gas processor—planned on closing a $750 million deal to buy part of gas processing plant Wamsutter in Wyoming. Williams Partners will offer $9.25 million shares of stock at $37.75 to help pay for the Wamsutter purchase. Higher interest expense from a 2006 acquisition resulted in a third quarter profit drop of 35% to $29.4 million, or $0.62 compared to the 2006 third quarter profit of $45.4 million, or $0.58. The company estimated that a recent plant fire will cost $10 to $20 million in damages for the fourth quarter.
Williams Partners L.P. has a market cap of $1.47 billion; its shares were traded at around $36.9 with P/E ratio of 18.33 and P/S ratio of 2.57. The dividend yield of Williams Partners L.P. stocks is 5.7%.
Holly Corp. (HOC): Director Thomas K. Matthews II Bought 10,000 Shares
Holly Corp. (HOC) planned to close a $180 million deal around the fourth quarter to acquire tank and pipeline assets in West Texas and New Mexico. The petroleum refining and marketing company announced a third quarter profit decline by 26% to $58.1 million, or $1.04 compared to a previous $79 million, or $1.37. Although third quarter revenue increased by 3.1% to $1.21 billion, the loss of production time in one of its refineries caused the profit to drop.
Chairman & CEO, Director Matthew P. Clifton bought 15,000 shares on 11/29 at $47.61, and Director Thomas K. Matthews II bought 10,000 shares on 12/05 at $47.50. Directors William J. Gray and Robert G. Mckenzie each made their sell of 4,860 at $63.25 and $60.85, respectively. Director Paul T. Stoffel sold a total of 180,000 shares between $59.57 and $64.68.
Holly Corp. has a market cap of $2.65 billion; its shares were traded at around $46.83 with P/E ratio of 8.12 and P/S ratio of 0.60. The dividend yield of Holly Corp. stocks is 1%.
Pacific Sunwear of California Inc. (PSUN): Director George R. Mrkonic Jr. Bought 15,000 Shares
Teen apparel retailer, Pacific Sunwear of California Inc. (PSUN), faced a slight sales drop to $373.1 million from $375.4 million. The company took a third quarter loss of $20 million, or $0.29 compared to earnings of $9 million, or $0.13 in the previous year. The retail sector is feeling the burdens in the economy, from credit and housing troubles to high oil and consumer prices.
Pacific Sunwear of California Inc. has a market cap of $1.08 billion; its shares were traded at around $15.28 with P/S ratio of 0.72.
- 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.