The largest Insider Buys this week were for Schlumberger Ltd. (SLB, Financial), General Motors Co. (GM, Financial), Kinder Morgan Inc. (KMI, Financial) and Arconic Inc. (ARNC, Financial).
Schlumberger Ltd. (SLB, Financial): Director Peter L. S. Currie bought 3,625 shares
Director Peter L. S, Currie bought 3,625 shares of Schlumberger Ltd. stock on May 30 at the average price of $69.02. The price of the stock has decreased by 0.09% since.
Schlumberger Ltd. is the world’s largest oilfield services company that employs more than 100,000 people in more than 85 countries. The company was founded in France, but has principal executive offices in all over the world, including in Paris, Houston, London, The Hague and Willemstad, Curacao. The company has a market cap of $95.82 billion, and as of June 2 it traded at $68.96.
On May 20 Schlumberger Ltd. announced that it has signed a memorandum of understanding with Saudi Aramco to develop an In-Kingdom Total Value Add roadmap, which includes the creation of jobs and enables developmental opportunities in oil and gas sectors in Saudi Arabia. This roadmap is in alignment with the Kingdom’s economic vision for 2030.
General Motors Co. (GM, Financial): Director Jane L. Mendillo bought 1,520 shares
Director Jane L. Mendillo bought 1,520 shares of General Motors stock on May 26 at the average price of $32.92. The price of the stock has increased by 4.65% since.
General Motors Co. is an American international manufacturer and distributor of vehicles and vehicle parts. The company manufactures cars and trucks in 35 countries, with brands including Buick, Cadillac, Chevrolet, GMC, Holden and Wuling. The company held the title of largest automobile manufacturer from 1931 through 2007. The company has a market cap of $51.99 billion, and as of June 2 it traded at $34.45.
On May 4 General Motors Co. announced that it delivered 272,770 vehicles in China in April. The company’s sales were down 1.9% year over year. The Cadillac and Baojun brands reached new sales highs for April, increasing 98% and 58% respectively from a year earlier.
Kinder Morgan Inc. (KMI, Financial): VP, Corporate Development Dax Sanders bought 2,600 shares
VP, Corporate Development Dax Sanders bought 2,600 shares of Kinder Morgan stock on May 30 at the average price of $18.6. The price of the stock has increased by 1.88% since.
Kinder Morgan Inc. is an American energy infrastructure company that specializes in owning and controlling oil and natural gas pipelines and terminals. Currently, the company is the largest energy infrastructure company in North America and operates approximately 84,000 miles of pipelines and owns about 180 terminals. The company has a market cap of $42.3 billion, and as of June 2 it traded at $18.95.
On May 30 Kinder Morgan Canada Limited Inc., a subsidiary of Kinder Morgan Inc., announced the completion of the initial public offering of 102,942,000 restricted voting shares of the company at a price to the public of C$17.00 per share for total gross proceeds of approximately C$1.75 billion. The proceeds of the offering will be used by the company to indirectly acquire from Kinder Morgan an approximate 30% interest in a limited partnership that holds the Canadian business of Kinder Morgan.
Arconic Inc. (ARNC, Financial): Director Patrice E. Merrin bought 10,000 shares
Director Patrice E. Merrin bought 10,000 shares of Arconic Inc. stock on May 30 at the average price of $27.17. The price of the stock has increased by 3.64% since.
Arconic Inc. is an American international lightweight metals engineering and manufacturing company that produces products for a wide variety of industries including aerospace, automotive, commercial transportation, packaging, and defense. The company’s operations consist of three worldwide reportable segments: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The company has a market cap of $12.41 billion, and as of June 2 it traded at $28.16.
On May 22 Arconic Inc. announced that it has entered an agreement with affiliates of Elliott Management Corporation, which have combined beneficial and economic ownership of approximately 13.2% of the company’s outstanding common stock, to resolve the pending proxy contest regarding the company’s May 2017 annual meeting of shareholders. Under the terms of the agreement, Elliott Management Corporation will nominate Christopher L. Ayers, Elmer L. Doty and Patrice E. Merrin for election as directors at the upcoming annual meeting, and the company will nominate David P. Hess and Ulrich R. Schmidt for election as directors.
