Insiders Have Bought Freeport-McMoRan Copper & Gold Inc. (FCX), Iron Mountain Incorporated (IRM), and More

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An insider at Woodward Inc (NASDAQ:WWD), a $2.8 billion market cap provider of energy control components such as pumps and valves for aerospace and energy customers, bought almost 7,400 shares of the stock on June 5th. The stock carries trailing and forward P/Es of 20 and 16, respectively, placing it quite a bit outside pure value territory. With Woodward’s revenue up only modestly going by recent reports, we would avoid it. Royce & Associates, a fund managed by Chuck Royce which focuses on small-cap and mid-cap stocks, disclosed ownership of 4.7 million shares of Woodward in its most recent 13F.

Parkway Properties Inc (NYSE:PKY) rounds out our list of stocks with recent insider purchases; the company’s CEO purchased 50,000 shares on June 4th. Parkway, which invests in office properties primarily in the Sunbelt region of the United States, has been experiencing high growth in its funds from operations (which are used in place of earnings when evaluating REITs). The stock currently makes quarterly dividend payments of 15 cents per share- a yield of 3.5%- after increasing its payments twice in the last year on growing FFO.

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

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