Triumph Group Inc. (TGI) CEO and President Daniel Crowley (Insider Trades) bought 50,000 company shares on Nov. 7. The price was $25.56 per share for a total transaction of $1,278,000.
Triumph Group, an aircraft design, engineering, manufacturing and repair company, has a market cap of $1.35 billion.
The number and volume of Triumph Group insider sells does not follow a clear trend year to year, but the volume of insider buys decreased from 13,000 shares in 2013 to 10,500 shares in 2014 to an absence of insider purchases in 2015. Aside from the aforementioned transaction, Crowley also purchased 250,000 shares for a price of $25.51 per share on Feb. 4.
In addition to Crowley’s transaction, two other insiders increased their stakes in the company on Nov. 7. Senior Vice President Richard Lovely (Insider Trades) purchased 2,000 shares for $25.13 per share, and Thomas Holzthum (Insider Trades) bought 10,000 shares for $25.50 per share. For more information about insider trades with Triumph Group, click here.
The company reported net sales of $874.769 million for the second fiscal quarter ended Sept. 30. For the previous year’s fiscal second quarter, net sales amounted to $954.774 million. Net income also decreased from $61.612 million, or $1.25 per share, to $34.807 million, or 71 cents per share, when comparing the same time periods. Crowley commented that the company “continued to strengthen business development efforts to drive organic growth” during the second quarter. He continued by stating that the company has saved $22.0 million of its total year target of $44.0 million during the quarter.
The company announced an additional delivery order from Gulfstream for the production of G650 wing and wing components through 2018. The company estimates the project will be valued at approximately $300 million. Triumph will also work with Northrop Grumman Corp. (NOC, Financial) and the U.S. Navy to produce the MQ-4C Triton unmanned aircraft system, which successfully completed Milestone C on Oct. 20. This will allow the aircraft to progress into production and deployment.
According to GuruFocus.com information, Triumph Group has a business predictability rank of 1 out of 5 stars. For more information about business predictability rank, click here.
Joel Greenblatt (Trades, Portfolio) increased his stake in Triumph Group during the second quarter while Paul Tudor Jones (Trades, Portfolio) decreased his stake in the company. Greenblatt bought 388,437 shares for an average price of $36.17 per share after previously selling out all 367,147 shares for an average price of $40.40 per share in the fourth quarter of 2015. Jones sold out all 7,500 held shares at an average price of $36.17 per share in the second quarter. In the previous quarter, Jones reduced his stake by 56.16%, selling 9,608 shares at an average price of $30.37 per share. The total estimated loss of the holding since the fourth quarter of 2014 was 24%. For more information about guru trades with Triumph Group, click here.
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