Yahoo Finance Insider Buying: The Spirax-Sarco Engineering plc (LON:SPX) Independent Chairman of the Board Just Bought UK£100k Worth Of Shares
Investors who take an interest in Spirax-Sarco Engineering plc (LON:SPX) should definitely note that the Independent Chairman of the Board, James Robert Pike, recently paid UK£76.90 per share to buy UK£100k worth of the stock. That's a very decent purchase to our minds and it grew their holding by a solid 15%.
View our latest analysis for Spirax-Sarco Engineering
Spirax-Sarco Engineering Insider Transactions Over The Last Year
Notably, that recent purchase by Independent Chairman of the Board James Robert Pike was not the only time they bought Spirax-Sarco Engineering shares this year. Earlier in the year, they paid UK£80.90 per share in a UK£101k purchase. That means that an insider was happy to buy shares at around the current price of UK£82.25. Of course they may have changed their mind. But this suggests they are optimistic. We do always like to see insider buying, but it is worth noting if those purchases were made at well below today's share price, as the discount to value may have narrowed with the rising price. Happily, the Spirax-Sarco Engineering insiders decided to buy shares at close to current prices.
In the last twelve months Spirax-Sarco Engineering insiders were buying shares, but not selling. The chart below shows insider transactions (by individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
Spirax-Sarco Engineering is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Insider Ownership of Spirax-Sarco Engineering
Many investors like to check how much of a company is owned by insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. It appears that Spirax-Sarco Engineering insiders own 0.1% of the company, worth about UK£8.6m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
What Might The Insider Transactions At Spirax-Sarco Engineering Tell Us?
The recent insider purchases are heartening. And an analysis of the transactions over the last year also gives us confidence. We would certainly prefer see higher levels of insider ownership but analysis of the insider transactions suggests that Spirax-Sarco Engineering insiders are expecting a bright future. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. For example - Spirax-Sarco Engineering has 2 warning signs we think you should be aware of.
Of course Spirax-Sarco Engineering may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned.
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