Top Insider Purchases – August 10, 2010:
We had an interesting group of insider purchases today with several repeat purchases by either the same insider or by additional insiders within the same company as discussed below. I decided to expand the list to 7 top insider purchases today to highlight two additional purchases that looked interesting.
1. Isilon Systems, Inc. (ISLN): $17.45
Director Donald Listwin acquired 50,000 shares of this network storage systems provider, paying $17.73 per share for a total amount of $886,500.
| P/E: N/A | Forward P/E: 48.47 | Industry P/E: 27.27 |
| P/S: 7.75 | Price/Book: 17.45 | EV/EBITDA: 494.25 |
| Market Cap: $1.15B | Avg. Daily Volume: 643,948 | 52 Week Range: $4.54 – $18.68 |
2. MEMC Electronic Materials Inc. (WFR): $10.53
President of the Semiconductor Material division Chandrasekhar Sadasivam acquired 50,000 shares of this manufacturer of silicon wafers, paying $9.91 per share for a total amount of $495,500. This follows a nearly half million purchase by the CEO and additional insider buying by four other insiders within the span of a week.
| P/E: N/A | Forward P/E: 10.53 | Industry P/E: 22.48 |
| P/S: 1.51 | Price/Book: 1.09 | EV/EBITDA: 21.05 |
| Market Cap: $2.39B | Avg. Daily Volume: 7,250,320 | 52 Week Range: $9.19 – $19.31 |
3. Cymer Inc. (CYMI): $33.85
Director Eric Ruttenberg acquired 10,000 shares of this semiconductor equipment manufacturer, paying $33.68 per share for a total amount of $336,800. This follows a 40,000 share purchase last week and an additional 50,000 shares in the week prior. Mr. Ruttenberg is co-managing member of New York based fund Tinicum Capital Partners.
| P/E: 17 | Forward P/E: 10.38 | Industry P/E: 18.81 |
| P/S: 2.35 | Price/Book: 1.8 | EV/EBITDA: 7.86 |
| Market Cap: $999.86M | Avg. Daily Volume: 331,072 | 52 Week Range: $28.31 – $40.06 |
4. East West Bancorp, Inc. (EWBC): $16.76
President Julia Gouw acquired 20,000 shares of this regional bank, paying $15.92 per share for a total amount of $318,462. East West Bancorp had over $20 billion in assets and a Troubled Asset Ratio (TAR) of 14.1 as of March 31, 2010. The national median TAR was 15. Non-performing assets in Q2 were less than 1%.
| P/E: 9.31 | Forward P/E: 12.79 | Industry P/E: 20.2 |
| P/S: 8.34 | Price/Book: 1.05 | EV/EBITDA: N/A |
| Market Cap: $2.48B | Avg. Daily Volume: 2,509,290 | 52 Week Range: $8.05 – $20.55 |
5. Itron, Inc. (ITRI): $61.4
Director Gary Pruitt acquired 4,000 shares of this smart meter manufacturer, paying $61.97 per share for a total amount of $247,896
| P/E: 44.56 | Forward P/E: 15.01 | Industry P/E: 24.89 |
| P/S: 1.28 | Price/Book: 1.95 | EV/EBITDA: 11.67 |
| Market Cap: $2.48B | Avg. Daily Volume: 608,588 | 52 Week Range: $51.17 – $81.95 |
6. Wausau Paper Corp. (WPP): $7.05
Director Andrew Baur acquired 30,000 shares of this paper products manufacturer, paying $6.8 per share for a total amount of $204,000. I decided to highlight Wausau Paper even though it did not make the top 5 list because this purchase follows a 25,000 share purchase by the CEO that was reported yesterday.
| P/E: 10.76 | Forward P/E: 10.52 | Industry P/E: 11.17 |
| P/S: 0.33 | Price/Book: 1.48 | EV/EBITDA: 3.8 |
| Market Cap: $345.21M | Avg. Daily Volume: 303,974 | 52 Week Range: $6.38 – $12.21 |
7. Cott Corporation (COT): $5.62
Chief Executive Officer Jeremy Fowden acquired 25,000 shares of this Canadian non-alcoholic beverage company, paying $5.75 per share for a total amount of $143,750.
| P/E: 5.98 | Forward P/E: 7.02 | Industry P/E: 17 |
| P/S: 0.29 | Price/Book: 1.15 | EV/EBITDA: 4.23 |
| Market Cap: $451.09M | Avg. Daily Volume: 564,406 | 52 Week Range: $5.41 – $9.39 |
Voluntary Disclosure: I have a long position in WFR.
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