Daniel Korte (Insider Trades), CEO and president of LMI Aerospace Inc. (LMIA), bought 5,000 shares of the company on July 23, 2015. The average price per share was $9.94, for a total transaction of $49,700. LMI Aerospace Inc. is a supplier of structural solutions and engineering services to commercial, business and regional, and military aerospace markets. The company’s market cap is 126.80 million, and P/S ratio is 0.33.
There were 44 insider sells totaling 1,581,549 shares, and nine insider buys totaling 265,219 shares of the company since May 2005. Korte made only one transaction with the company during this time. The average price per share increased about 120% since the first insider transaction in 2005, and there were no insider transactions from November 2010 to February 2014. The volume of insider sells decreased from 10 transactions totaling 1,213,992 shares of the company in 2005 to 15 transactions of 325,613 shares in 2014. 
LMIA Director Ronald Saks (Insider Trades) sold 32,695 shares of the company for an average price of $9.98 per share on June 30, 2015. Saks sold 1,125,793 shares of the company in 22 transactions since March 2006. He also bought 15,222 shares of the company in two transactions in 2009. For more information about insider transactions with LMI Aerospace Inc., click here.
LMI Aerospace reported a net loss of $1.5 million ,or $0.11 per share for the first quarter of 2015; the company’s net loss was $442 thousand or $0.03 per share in the first quarter of 2014. Korte stated, “Aerostructures growth on the Boeing 737 and 787 platforms drove 9.6% higher revenue” and that long-term relationships with Spirit, Boeing and Gulfstring will position LMIA for revenue growth. The company experienced a decrease in gross profit from $3.3 million in the first quarter of 2014 to $1.3 million in the same quarter of the following year; LMIA attributed this decrease to a decline in sales and an unfavorable sales mix. Net income decreased from $1.3 million in December 2000 to $29 million in December 2014. 
Selling, general and administrative expenses were $10.8 million in the first quarter of 2015, compared to $11.4 million in the first quarter of the previous year. The company attributed this to a decrease of $0.8 million in professional services. Revenue increased 17.22% since 2010. Korte stated that the company will focus on taking steps to “increase asset utilization, reduce working capital and debt leverage, find additional efficiencies and improve margins across the board” within the next year. According to GuruFocus.com data, LMI Aerospace Inc.’s business predictability rank is 1 out of 5 stars. For more information about business predictability rank, click here.
There were three guru transactions with LMIA in the first quarter of 2015; two gurus increased their stake, and one sold out of the company. Jim Simons (Trades, Portfolio) (Trades, Portfolio) of Renaissance Technologies LLC, bought 21,800 shares of LMIA for an average price of $13.72 per share. Simons sold out all shares of LMIA in the fourth quarter of 2010, selling 37,000 shares for an average price of $16.03. Richard Snow (Trades, Portfolio) (Trades, Portfolio) of Snow Capital Management, LP, sold out 112,600 shares of LMIA for an average price of $13.72. Snow first acquired 32,475 shares for an average price of $19.37 per share in the first quarter of 2012. His total estimated gain from this holding is -10%. For more information about guru transactions with LMI Aerospace Inc., click here.
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