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Weekly CEO Buys Highlight: VISA INC, Avnet Inc, Global Industries Ltd, W.R. Grace & Co.

December 07, 2008 | About:

These are the CEO buys companies for the week: VISA Inc, Avnet Inc, Global Industries Ltd, and W.R. Grace & Co.

For the complete list of stocks that bought by their company CEOs, go to: CEO Buys.

VISA INC (V): Chairman and CEO, Director Joseph W Saunders Bought 20,350 Shares

Chairman and CEO, Director of VISA INC (V) Joseph W Saunders bought 20,350 shares during the past week at an average price of $53.18. VISA operates the world's largest retail electronic payments network and is one of the most recognized global financial services brands. The company has a market cap of $41.37 billion with a P/E ratio of 91.69 and P/S ratio of 6.31. The dividend yield of VISA INC stocks is 0.91%.

Visa recently announced its 3 rd quarter 2008 results. The company announced that GAAP net income was $422 million for the quarter. The company also said that it had an adjusted net income of $457 million for the quarter. Payment volume was up about 20% over the year.

Bill Ackman bought 2,703,618 shares in the quarter that ended on 09/30/2008. Steve Mandel owns 4,651,970 shares as of 09/30/2008, an increase of 179.9% from the previous quarter. PRIMECAP Management owns 7,300 shares as of 09/30/2008. Chris Davis owns 2,153,430 shares as of 09/30/2008, a decrease of 38.79% of from the previous quarter. Jean-Marie Eveillard sold out his holdings in the quarter that ended on 09/30/2008.

CFO Byron H Jr Pollitt bought 4,000 shares of V stock on 12/02/2008 at the average price of $48; the price of the stock has increased by 10.79% since.

Avnet Inc. (AVT): Chairman and CEO, Director Roy Vallee Bought 50,001 Shares

Chairman and CEO, Director of Avnet Inc. (AVT) Roy Vallee bought 50,001 shares on 12/02/2008 at an average price of $15.01. Avnet Inc. is one of the world's largest industrial distributors of electronic components and computer products. The company has a market cap of $2.26 billion; its shares were traded at around $15.01 with a P/E ratio of 4.69 and P/S ratio of 0.12. Avnet Inc. had an annual average earning growth of 25% over the past 5 years. GuruFocus rated Avnet Inc. the business predictability rank of 1-star.

Avnet recently announced revenues of $4.49 billion for the first quarter of the company’s fiscal 2009 results. This is an increase of about 10% compared to fiscal 2008’s first quarter results. Net income was 61 cents per share, compared to 69 cents per share a year ago.

Arnold Schneider owns 1,941,268 shares as of 09/30/2008, an increase of 249.3% from the previous quarter. Robert Rodriguez owns 3,152,600 shares as of 09/30/2008, which accounts for 0.91% of the $760 million portfolio of FPA Capital. NWQ Managers owns 1,099,149 shares as of 09/30/2008, which accounts for 0.13% of the $20.62 billion portfolio of NWQ Investment Management Co. Kenneth Fisher owns 88,000 shares as of 09/30/2008, which accounts for 0.01% of the $31.63 billion portfolio of Fisher Asset Management, LLC. Chris Davis sold out his holdings in the quarter that ended on 09/30/2008.

Senior VP and CFO Raymond Sadowski bought 20,000 shares of AVT stock on 12/05/2008 at the average price of $13.95; the price of the stock has increased by 7.6% since.

Global Industries Ltd. (GLBL): CEO John A Clerico Bought 200,000 Shares

CEO of Global Industries Ltd. (GLBL) John A Clerico bought 200,000 shares on 12/03/2008 at an average price of $2.4. Global Industries Ltd. provides construction services including pipeline construction platform installation and removal and diving services to the offshore oil and gas industry. It has a market cap of $271.49 million with P/S ratio of 0.23. GuruFocus rated Global Industries Ltd. the business predictability rank of 1-star.

Global Industries Ltd recently reported its third quarter 2008 results. Revenues were up 7% from the third quarter of 2007. However, net loss was 90 cents per share, compared to a net income of 27 cents per share a year ago. The company’s CEO said, “We are most disappointed to report such a large operating loss for the quarter, but a thorough review and analysis of the conditions we have been and are continuing to experience on our Saudi Arabian and Brazilian projects requires us to do so. In order to rapidly address our major operating challenges, we are developing a comprehensive plan to restore Global to profitability as soon as possible. This plan will emphasize improving our bidding and project execution processes, controlling costs and maximizing our cash resources. Our first priority remains serving our customers by executing the work they entrust to us efficiently and professionally. As we stated in our last call, we are determined to improve Global’s performance for the benefit of our shareholders, customers and employees.”

10% Owner William J Dore bought 186,566 shares of GLBL stock on 12/03/2008 at the average price of $2.73; the price of the stock has decreased by 12.09% since.

W.R. Grace & Co. (GRA): Chairman, President and CEO, Director Alfred E Festa Bought 100,000 Shares

Chairman, President and CEO, Director of W.R. Grace & Co. (GRA) Alfred E Festa bought 100,000 shares on 12/01/2008 at an average price of $6.16. W. R. Grace & Co. produces specialty chemicals. They primarily operate through the following two business segments: Davison Chemicals and Performance Chemicals. W.R. Grace & Co. has a market cap of $444.49 million; its shares were traded at around $6.16 with a P/E ratio of 4.18 and P/S ratio of 0.11.

W.R. Grace and Co. recently reported its 3 rd quarter results for 2008. Sales were at about $900 million, an increase of 13.6% from the 3 rd quarter 2007. Net income was 39 cents per share, compared to 27 cents per share a year ago. The company’s CEO said, ““We delivered good results in a tough economic environment. We have made significant progress improving prices in response to unprecedented increases in raw material costs. We are focused on executing our strategic plans and expect our diverse business and geographic position, and our integrated operating company approach, to enable us to continue delivering value to our customers in a period of increased volatility.”

Senior Vice President & CFO Force Andrew Hudson Iii La bought 50,000 shares of GRA stock on 12/03/2008 at the average price of $4.43; the price of the stock has increased by 39.05% since.
  • 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.

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