Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Insider Buying Heating Up At Worthington (WOR), Knowles (KN), and Churchill Downs (CHDN)

At Insider Monkey, we track insider trading and hedge fund activity to uncover actionable patterns and profit from them. Large-scale studies of insider buying data have showed that stocks with noteworthy insider purchases outperform the market by as much as 11% annually on average, making insider buying a highly useful measure of a stock’s value (and more importantly, its future performance) for investors.

Among the recently uncovered insider buying of note were purchases made by insiders at Worthington Industries, Inc. (NYSE:WOR), Knowles Corp (NYSE:KN), and Churchill Downs, Inc. (NASDAQ:CHDN). We’ll look at those moves and what likely spurred them below.

Insider Monkey’s flagship “Best Performing Hedge Funds Strategy” invests in the consensus picks of the top 100 best performing hedge funds every quarter. This strategy gained 4% last quarter vs. a loss of 1% for the S&P 500 ETF (SPY). Since its inception in May 2014 this strategy’s picks have returned 74.4% vs. 49.7% for the SPY. You can see our latest picks by trying our newsletters free of charge for 14 days.



Worthington Industries, Inc. (NYSE:WOR)

Who Bought Shares: Director Michael Endres

How Many Shares Were Bought: 3,000 @ $39.78

Date of the Transaction(s): April 4

The director’s purchase was the first by a Worthington Industries, Inc. (NYSE:WOR) insider in over three years and followed a steep decline in shares in late-March/early-April following the company’s fiscal third-quarter results being released. Those results of $841 million in revenue (up by nearly 20% year-over-year) and EPS of $0.61 (when not including a $0.66 per share tax cuts benefit) missed estimates of $861 million and $0.72 per share respectively.

Worthington Industries, Inc. (NYSE:WOR)’s Integration of Amtrol Proving Successful: During the company’s fiscal third-quarter conference call, EVP and CFO Andy Rose declared that Worthington’s integration of Amtrol has “gone well”, improving Worthington’s consumer and industrial products divisions. A manufacturer of water system tanks and pressure cylinders, Amtrol was acquired last June for $283 million.

Follow Worthington Industries Inc (NYSE:WOR)
Trade (NYSE:WOR) Now!

On the next page we’ll look at the recent insider trading activity at Churchill Downs, Inc. (NASDAQ:CHDN) and Knowles Corp (NYSE:KN).