Insiders Have Bought BlackRock, Adobe, and More

Specialty chemicals company Kronos Worldwide, Inc. (NYSE:KRO) had a Board member buy 5,000 shares at $19.20 per share. After rallying strongly in the last three months, Kronos is still down 8% from its levels a year ago and short interest is very high with 30% of outstanding shares held short. We would note that the same Board member, Glenn Simmons, was buying in November at prices just above $13 (see a history of his insider purchases). Business at Kronos has been down (which caused the stock’s decline) and the stock is currently valued at 15 times expected earnings for 2013.

An insider bought 50,000 shares of Agree Realty Corporation (NYSE:ADC), a retail real estate investment trust. REITs are often prized by income investors for their dividend yields; Agree has paid 40 cents per share in dividends for each of the last eight quarters (which is a 5.6% yield at the current price) but this was down from 51 cents per quarter before that time. Agree’s market capitalization is only about $320 million, but there is over $1 million in average daily dollar volume.

Disclosure: I own no shares of any stocks mentioned in this article.