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RTI International Metals, Inc. (RTI): Insiders Are Buying, Should You?

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RTI International Metals, Inc. (NYSE:RTI) was in 7 hedge funds’ portfolio at the end of the first quarter of 2013. RTI has experienced an increase in support from the world’s most elite money managers lately. There were 5 hedge funds in our database with RTI positions at the end of the previous quarter.

Chuck Royce

In the 21st century investor’s toolkit, there are dozens of indicators investors can use to monitor their holdings. A duo of the most useful are hedge fund and insider trading activity. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the best investment managers can outclass the market by a significant amount (see just how much).

Equally as key, bullish insider trading activity is a second way to parse down the stock market universe. Just as you’d expect, there are many stimuli for an executive to get rid of shares of his or her company, but just one, very obvious reason why they would buy. Various academic studies have demonstrated the market-beating potential of this strategy if you know where to look (learn more here).

Consequently, we’re going to take a peek at the latest action encompassing RTI International Metals, Inc. (NYSE:RTI).

What have hedge funds been doing with RTI International Metals, Inc. (NYSE:RTI)?

At the end of the first quarter, a total of 7 of the hedge funds we track were bullish in this stock, a change of 40% from the previous quarter. With hedge funds’ sentiment swirling, there exists a select group of key hedge fund managers who were increasing their holdings substantially.

Of the funds we track, Chuck Royce’s Royce & Associates had the most valuable position in RTI International Metals, Inc. (NYSE:RTI), worth close to $19.2 million, comprising 0.1% of its total 13F portfolio. The second largest stake is held by D E Shaw, managed by D. E. Shaw, which held a $7.6 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Some other hedgies that are bullish include Richard Driehaus’s Driehaus Capital, Jim Simons’s Renaissance Technologies and Cliff Asness’s AQR Capital Management.

As one would reasonably expect, key hedge funds were leading the bulls’ herd. Renaissance Technologies, managed by Jim Simons, assembled the largest position in RTI International Metals, Inc. (NYSE:RTI). Renaissance Technologies had 0.6 million invested in the company at the end of the quarter. Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners also initiated a $0.4 million position during the quarter.

How have insiders been trading RTI International Metals, Inc. (NYSE:RTI)?

Insider trading activity, especially when it’s bullish, is most useful when the company in question has experienced transactions within the past six months. Over the latest 180-day time frame, RTI International Metals, Inc. (NYSE:RTI) has experienced 1 unique insiders purchasing, and 5 insider sales (see the details of insider trades here).

Let’s also review hedge fund and insider activity in other stocks similar to RTI International Metals, Inc. (NYSE:RTI). These stocks are Applied Industrial Technologies (NYSE:AIT), Newport Corporation (NASDAQ:NEWP), Wesco Aircraft Holdings Inc (NYSE:WAIR), Susser Petroleum Partners LP (NYSE:SUSP), and DXP Enterprises Inc (NASDAQ:DXPE). This group of stocks belong to the industrial equipment wholesale industry and their market caps are closest to RTI’s market cap.

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