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Shuda Xia
Shuda Xia
Articles (413) 

Top Insider Buys Highlight for the Week of Oct. 23

The largest Insider Buys this week were for Fastenal Co., Array Technologies Inc., First American Financial Corp and Cadence Bancorp

October 25, 2020 | About:

According to GuruFocus data, the largest Insider Buys this week were for Fastenal Co. (NASDAQ:FAST), Array Technologies Inc. (NASDAQ:ARRY), First American Financial Corp. (NYSE:FAF) and Cadence Bancorp (NYSE:CADE).

Fastenal Co.Director Darren R. Jackson bought 18,000 shares

Director Sam Hsenghung Hsu bought 2,000 shares on Oct. 19 at the average price of $44.75. The price of the stock has increased by 0.56% since.

Fastenal Co. is an American international industrial supply company that focuses on distributing industrial, safety and construction supplies. The company has over 2,600 branches throughout the United States, Canada, Mexico and Canada. The company has a market capitalization of $25.83 billion, and as of Oct. 23 it traded at $44.75.

On Oct. 13, Fastenal Co. announced financial results for the third quarter of 2020. Net sales for the quarter totaled $1.413 billion compared with net sales of $1.379 billion during the same quarter of the prior year, representing a 2.5% increase. Operating income for the quarter totaled $290 million compared to $281.9 million during the same quarter of the prior year, representing a 2.9% increase.

Array Technologies Inc. Chief Commercial Officer Jeffrey P. Krantz bought 71,281 shares

Chief Commercial Officer Jeffrey P. Krantz bought 71,281 shares on Oct. 19 at the average price of $22. The price of the stock has increased by 90.91% since.

Array Technologies Inc. is an American international manufacturing company that focuses on manufacturing ground-mounting systems used in solar energy projects. The company's main product is a single axis tracker that move solar panels throughout the day to maintain an optimal orientation to the sun. The company has a market capitalization of $5.33 billion, and as of Oct. 23 it traded at $42.00.

On Oct. 19, Array Technologies Inc. announced the closing of its upsized initial public offering of 54,625,000 shares of its common stock, 7 million shares of which was issued and sold by the company. The remaining amount is being sold by a parent entity of the company controlled by Oaktree Capital (OAK). The common stock began trading on the Nasdaq Global Market on Oct. 15..

First American Financial Corp Director Mark C. Oman bought 4,000 shares

Director Mark C. Oman bought 4,000 shares on Oct. 23 at the average price of $47.78. The price of the stock has increased by 1.32% since.

First American Financial Corp. is an American international financial services company that focuses on providing title insurance and settlement services to real estate and mortgage industries. The company is also a component of the S&P 400. The company has a market capitalization of $5.4 billion, and as of Oct. 23 it traded at $48.41.

On Oct. 22, First American Financial Corp. reported financial results for the third quarter of 2020 ended Sept. 30. Revenue for the quarter totaled $1.9 billion, an increase of 15% compared to the same quarter of the prior year. Cash flow from operations for the quarter totaled $313.1 million compared to $310.6 million during the same quarter of the prior year.

Cadence Bancorp Director Joseph W. Evans bought 4,000 shares

Cadence Bancorp Director Joseph W. Evans bought 4,000 shares on Oct. 23 at the average price of $12.11. The price of the stock has decreased by 0.41% since.

Cadence Bancorp is an American bank holding company with 98 branches in Alabama, Georgia, Florida, Tennessee, Mississippi and Texas. The company is a component of the Russell 2000 Index. The company has a market capitalization of $1.518 billion, and as of Oct. 23 it traded at $12.06.

On Oct. 21, Cadence Bancorp reported financial results for the third quarter of 2020. Net income for the quarter totaled $49.3 million, or $0.39 per share, compared to net income of $44.0 million or $0.34 per share, for the same quarter of the prior year. Total assets at the end of the quarter totaled $18.4 billion, an increase of $548.2 million, or 3.1%, compared to the same quarter of the prior year.

For the complete list of stocks that were bought by their company executives, go to: Insider Trades.

Disclosure: I do not own stock in any of the companies mentioned in the article.

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  • 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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