Multiple Insiders Have Bought Capital One Financial Corp. (COF), United States Steel Corporation (X), and More

Edwards Lifesciences Corp (NYSE:EW), a $7.6 billion market cap medical device company, has also been seeing significant insider buying. Edwards Lifesciences Corp (NYSE:EW) is perhaps best known for its heart valve therapy products. At the current valuation, the stock trades at 21 times trailing earnings. The company’s revenue grew by 8% in its most recent quarter compared to the same period in the previous year, and while earnings grew at a faster rate further increases in net income are likely to converge towards revenue growth. Sectoral Asset Management owned 1.4 million shares of Edwards at the end of the fourth quarter of 2012.

In addition to the bullishness at United States Steel Corporation (NYSE:X), things are looking up for the steel industry according to insiders at metallurgical coal producer Walter Energy, Inc. (NYSE:WLT). Met coal is an input in steel production, and Walter’s stock price is currently down by about two-thirds from its levels a year ago. The company is unprofitable on a trailing basis and Walter Energy, Inc. (NYSE:WLT) is a popular short target as well (the most recent data has short sellers responsible for 19% of the float). As with United States Steel Corporation (NYSE:X) the sell-side expects conditions to improve here but the forward earnings multiple is still high at 20.

Our database also shows multiple insiders buying shares of $5.5 billion market cap agricultural equipment manufacturer AGCO Corporation (NYSE:AGCO) within the last month. Agricultural equipment companies are generally priced at low earnings multiples in the current environment, and AGCO is no exception with a trailing earnings multiple of 11. Revenue grew 6% in Q1 2013 versus a year earlier, though earnings were down slightly. D.E. Shaw, a large hedge fund managed by billionaire David Shaw, disclosed ownership of about 350,000 shares in its most recent 13F filing (find D.E. Shaw’s favorite stocks).

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