Texas Industries (NYSE:TXI), a $1.6 billion market cap company providing cement and other construction materials, also had an insider buying the stock. Many construction related stocks have soared in the last year, and Texas Industries is actually up 68% over that time frame. Earnings multiples are very high, as analyst consensus is for 9 cents per share in earnings for the fiscal year ending in May 2014. Texas Industries has been reporting operating losses, though smaller ones than a year ago. Southeastern Asset Management, managed by Mason Hawkins, reported a position of 8.1 million shares in its 13F filing for the fourth quarter of 2012 (find Southeastern’s favorite stocks).
A trust associated with a member of AeroVironment (NASDAQ:AVAV)’s Board of Directors purchased a little over 25,000 shares of the stock between April 15th and 16th; we had previously covered purchases from this trust earlier in the month. AeroVironment’s business has been down, and with much of its revenue coming from unmanned aircraft systems for the military we would be concerned about the effects of federal spending cuts. The sell-side expects net income to decline over the next several quarters. Billionaire Ken Griffin’s Citadel Investment Group disclosed ownership of about 540,000 shares at the end of 2012 (see Griffin’s stock picks).
Disclosure: I own no shares of any stocks mentioned in this article.