According to GuruFocus Insider Data, these are the largest CEO buys during the past week.
Equitrans Midstream CEO bought 100,000 shares
Equitrans Midstream Corp. (ETRN, Financial) Chairman and CEO Thomas F. Karam bought 100,000 shares on Aug. 2 at a price of $16.39. The price of the stock has decreased by 11.1% since.
Equitrans Midstream owns, operates, acquires and develops midstream assets in the Appalachian Basin. The company manages natural gas transmission, storage and gathering systems, as well as high-and low-pressure gathering lines. The company has a market cap of $3.71 billion. Its shares traded at $14.57 with a price-earnings ratio of 22.42 as of Aug. 9.
Net income for the second quarter of 2019 was $74.5 million.
Karam also bought 100,000 shares on Aug. 1 at a price of $16.11. The price of the stock has decreased by 9.56% since.
Senior Vice President and Chief Financial Officer Kirk R. Oliver bought 13,700 shares on August 5 at a price of $16.1. The price of the stock has decreased by 9.5% since.
Director Margaret K. Dorman bought 7,750 shares on Aug. 1 at a price of $16.11 and another 7,750 shares the same day at a price of $16.11. The price of the stock has decreased by 9.56% since.
MPLX CEO bought 42,600 shares
MPLX LP (MPLX, Financial) Chairman and CEO Gary R. Heminger bought 42,600 shares on August 7 at a price of $27.18. The price of the stock has increased by 0.66% since.
MPLX is primarily a refinery logistics master limited partnership with extensive holdings in the Marcellus/Utica region. The asset base is made up of assets dropped down from Marathon Petroleum, its sponsor, and gathering and processing assets from MarkWest, which it acquired in 2015. The company has a market cap of $28.93 billion. Its shares traded at $27.36 with a price-earnings ratio of 11.90 as of Aug. 9.
Net income for the second quarter of 2019 was $482 million compared with $453 million for the second quarter of 2018.
Director Garry L. Peiffer bought 18,000 shares on Aug. 7 at a price of $27.15. The price of the stock has increased by 0.77% since.
Director Dan D. Sandman bought 36,630 shares on Aug. 7 at a price of $27.26. The price of the stock has increased by 0.37% since.
Align Technology CEO bought 4,995 shares
Align Technology Inc. (ALGN, Financial) President and CEO Joseph M. Hogan bought 4,995 shares on Aug. 2 at a price of $199.83. The price of the stock has decreased by 8.26% since.
Align Technology provides a clear aligner therapy system, intra-oral scanners, and computer-aided design/computer-aided manufacture digital services used in dentistry and orthodontics. The firm operates in two segments: Clear Aligner and scanners and services. The Clear Aligner segment generates the vast majority of revenue and sells the Invisalign System, which uses clear plastic removable orthodontic aligners to treat misaligned teeth. This segment also sells retainers. The scanners and services segment's key product is the iTero Scanner, an intra-oral scanner that can be used with Invisalign treatment. The iTero platform also can be used with software for restorative or orthodontic procedures. Align receives the majority of its revenue from the United States. The company has a market cap of $14.64 billion. Its shares traded at $183.33 with a price-earnings ratio of 35.60 as of August 9.
Net income for the second quarter of 2019 was $147.14 million compared to $106.11 million for the comparable prior-year period.
Senior Vice President and Global and Chief Marketing Officer Vamsi Mohan Raj Pudipeddi bought 1,100 shares on August 6 at a price of $188.11. The price of the stock has decreased by 2.54% since.
DXC Technology CEO bought 14,500 shares
DXC Technology Co. (DXC, Financial) President and CEO John M. Lawrie bought 14,500 shares during the past week at an average price of $50.85.
DXC Technology is a vendor-independent IT services provider that started trading in April 2017. DXC was created via the amalgamation of Computer Sciences Corp., or CSC, and Hewlett Packard Enterprise's Services business. The combined company has enviable global scale, with annual revenue of around $25 billion, over 170,000 employees, operations across 70 countries, and broad industry exposure. In addition, the firm has roughly 6,000 clients, of which over 200 are within the Fortune 500. The company has a market cap of $9.57 billion. Its shares traded at $35.91 with a price-earnings ratio of 8.54 as of August 9.
For the first quarter of fiscal 2020, net income was $168 million compared with $266 million in the prior year period.
Lawrie bought 4,166 shares on July 18 at a price of $56.26; 4,500 shares on August 2 at a price of $53.72; and 10,000 shares on August 6 at a price of $49.56. The price of the stock has decreased by 27.54% since.
Arconic CEO bought 30,463 shares
Arconic Inc. (ARNC, Financial) Chairman and CEO John C. Plant bought 30,463 shares on August 7 at a price of $24.13. The price of the stock has increased by 4.52% since.
Arconic manufactures value-added aluminum and specialty metals products for a wide variety of industrial end markets, including aerospace and defense, building and construction, and automotive. In recent years, the company has embraced a growth-by-acquisition strategy, having completed nearly $5 billion of acquisitions since late 2014. Many of Arconic's key product lines will enjoy secular growth due to the need for lightweighting and high-performance materials that hold up in harsh operating conditions. The company has a market cap of $11.10 billion. Its shares traded at $25.22 with a price-earnings ratio of 27.21 as of August 9.
Net loss in the second quarter of 2019 was $121 million compared to net income of $120 million in the second quarter of 2018.
For the complete list of stocks bought by their company CEOs, go to: CEO Buys.
Disclosure: I do not own stock in any of the companies mentioned in the article.
