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Weekly CEO Buys Highlight: First Midwest Bancorp Inc., Rite Aid Corp., FCStone Group Inc., Dycom Industries Inc., Charming Shoppes Inc

July 22, 2008 | About:
insider

Weekly highlight of top CEO buys. Related Companies: First Midwest Bancorp Inc. (FMBI), Rite Aid Corp. (RAD), FCStone Group Inc. (FCSX), Dycom Industries Inc. (DY), Charming Shoppes Inc. (CHRS).

First Midwest Bancorp Inc. (FMBI): Chairman & CEO, Director John M. Omeara Bought 55,000 Shares

FIRST MIDWEST BANCORP INC. (FMBI) is a multi-bank holding company engaged in commercial banking trust investment management insurance mortgage origination and servicing activities. The company declared their quarterly dividend at $0.31 a share. For the second quarter, FMBI reported a profit of $27 million or $0.56 per share compared to $29.3 million or $0.59 per share in 2007. The earnings were higher than Wall Street’s Estimates.

Dodge & Cox owns 10,534 shares as of 3/31/08.

On 7/17/08, insiders bought shares of FMBI at $17.71 to $18.96: Chairman & CEO, Director John M. Omeara bought 55,000 shares; President & COO Michael L. Scudder bought 4,217 shares; Bank President & COO Thomas J. Schwartz bought 2,800 shares; Director Ellen A. Rudnick and VP, CFO Paul F. Clemens each bought 2,000 shares; and EVP Cynthia A. Lance bought 1,000 shares. Also, Director Patrick J. Mcdonnell bought 1,000 shares on 2/27/08 at $28.19, while EVP Michael J. Kozak sold 2,366 shares on 1/29/08 at $29.78.

First Midwest Bancorp Inc. has a market cap of $933.87 million; its shares were traded at around $19.23 with a P/E ratio of 12.42 and P/S ratio of 3.25. The dividend yield of First Midwest Bancorp Inc. stocks is 6.45%.

Rite Aid Corp. (RAD): Chairman, President & CEO, Director Mary F. Sammons Bought 486,750 Shares

Rite Aid Corporation (RAD), which operates Brooks and Eckerd stores, lost for the first quarter on hefty costs from acquiring 1,850 new stores. The company expects $160 million from acquisition and integration expenses. Drugstore chain’s shares are near their 52-week lows. For the quarter, the company lost a total of $162.8 million or $0.20 per share compared to a gain of $19.5 million, or $0.04 per share. Quarterly revenue rose from $4.46 billion in 2007 to $6.61 billion this year. Rite Aid lowered their outlook for 2009, as the company expects refinancing costs.

On 7/14/08, Chairman, President & CEO, Director Mary F. Sammons bought 486,750 shares, Director Robert Gerald Miller and Director George Golleher each bought 500,000 shares at $1 per share.

Rite Aid Corp. has a market cap of $1.1 billion; its shares were traded at around $1.3 with P/S ratio of 0.05.

FCStone Group Inc. (FCSX): President and CEO, Director Paul G. Anderson Bought 24,000 Shares

FCSTONE GROUP INC (FCSX) is an integrated commodity risk management company that provides risk management consulting and transaction execution services to commercial commodity intermediaries end users and producers. The company will be buying back $20 million in stocks. FCSTONE Group’s third quarter profits fell 1% compared to the last year’s third quarter; the company earned $8 million or $0.28 a share compared to $8.1 million or $0.29 a share.

Ron Baron kept his 2,002,900 shares of FCSX about the same, as Jean-Marie Eveillard sold out his FCSX holdings.

President and CEO, Director of FCStone Group Inc. Paul G. Anderson bought 24,000 shares during the past week at $18.69; and Director Doug Derscheid bought 8,000 shares at $16.

As of April, insiders sold shares of FCStone between $38.96 and $41.52: CFO William J. Dunaway sold 6,000 shares; VP Robert Mortenson sold 16,750 shares; EVP Jeff Soman sold 12,000 shares; Director Dave Reinders sold 3,000 shares; Eric A Bowles sold 2,000 shares; and Chief Accounting Officer Aaron Schroeder sold 1,000 shares.

FCSton Group Inc. has a market cap of $523.26 million; its shares were traded at around $18.69 with a P/E ratio of 11.97 and P/S ratio of 1.60.

Dycom Industries Inc. (DY): CEO, Director Steven E. Nielsen Bought 12,000 Shares

Dycom Industries Inc. (DY), which maintains and installs services for telecom companies, net an income of $6.9 million or $0.17 a share, compared to $12.4 million or $0.31 a share for the third quarter. The contractor’s board of directors approved a $15 million stock buy-back program. The revenue stayed nearly flat at $293.4 million compared to a prior $291.6 million. Dycom expects a fourth quarter profit of $0.18 to $0.23 per share, on revenue of $305 million to $325 million.


CEO, Director Steven E. Nielsen bought 12,000 shares on 7/11/08 at $13.46. Since March, CEO, Director Steven E. Nielsen bought a total of 198,535 shares at around $11.50 per share. Other buys were made by Director James Chiddix, who bought 15,000 shares at $13.50, and EVP Timothy R. Estes bought 10,000 shares at $11.69. Additionally, Director Charles M. Brennan III bought 10,000 shares on 2/29/08 at $11.50.

Dycom Industries Inc. has a market cap of $618.02 million; its shares were traded at around $15.41 with a P/E ratio of 19.17 and P/S ratio of 0.49.

Charming Shoppes Inc. (CHRS): Chairman and Interim CEO Alan Rosskamm Bought 25,000 Shares

Charming Shoppes (CHRS) lost $34.5 million or $0.30 a share compared to a profit of $26.3 million or $0.20 a share for the first quarters. The plus-size- women’s apparel chain reported a 13% drop in same-store sales during the same period, as revenue slipped 8% to $641.3 million from $696.6 million in 2007.

George Soros bought 41,195 shares in the prior quarter. Also, Arnold Schneider and Robert Rodriguez own shares in Charming Shoppes Inc.

Chairman and Interim CEO Alan Rosskamm bought 25,000 shares on 7/11/08 at $4.47; Director Yvonne M. Curl bought 10,000 shares at $4.38; and Director Katherine M. Hudson bought 20,000 shares at $4.55.

Charming Shoppes Inc. has a market cap of $558.15 million; its shares were traded at around $4.92 with P/S ratio of 0.19.


Rating: 3.0/5 (3 votes)

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