Weekly Top Insider Buys Highlights

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Weekly Top Insider Buys Highlights

- By Shuda Xia

The largest insider buys this week were for PG&E Corp. (PCG), Freeport-McMoRan Inc. (FCX), Coty Inc. (COTY) and Annaly Capital Management Inc. (NLY).

PG&E director bought 4,000 shares

Director Roger H. Kimmel bought 4,000 shares for $69.68 per share on Sept. 5. The stock price has increased by 1.38% since.


PG&E is an American investor-owned electric utility company. The company provides natural gas and electricity to most of the northern two-thirds of California, representing 5.2 million households. The company has a market cap of $36.23 billion; as of Sept. 8 it traded at $70.64.

On Sept. 7 PG&E announced that it has been named to the Dow Jones Sustainability North America Index, which lists North American companies that lead their respective industries in corporate economic, environmental and social performance. This is the eighth time that the company has been selected for the index.

Freeport-McMoRan president bought 36,180 shares

President and Chief Operating Officer FM Americas Harry M. Conger IV bought 36,180 shares for $15.23 per share on Sept. 7. The stock price has decreased by 6.5% since.

Freeport-McMoRan is an American international mining company that is the largest producer of molybdenum and the second-largest copper producer in the world. The company has operations in North America, South America, Europe and Indonesia, employing a total of approximately 34,500 employees. The company has a market cap of $20.61 billion; as of Sept. 8 it traded at $14.24.

On Aug. 29 Freeport-McMoRan announced that it has reached an understanding with the Indonesian government regarding a framework to support the company's long-term investment plans in Papua. The framework states that Freeport-McMoRan will convert its contract of work to a special license which will provide the company with long-term operating rights through 2041 and the Indonesian government will provide certainty of fiscal and legal terms during the period of the license.

Coty chief legal officer bought 62,218 shares

Chief Legal Officer Greerson G. McMullen bought 62,218 shares for $16.5 per share on Sept. 7. The stock price has decreased by 0.18% since.

Coty is an American international beauty products manufacturer. The company's main products include fragrances, color cosmetics and skin and body care products. The company owns the major brands of Calvin Klein, Chloe, Davidoff, Marc Jacobs, Philosophy, Adidas, Playboy and Rimmel London. The company has a market cap of $16.65 billion; as of Sept. 8 it traded at $16.47.

On Aug. 22 Coty reported fourth quarter 2017 and full-year financial results. The company reported net revenues of $2.24 billion for the fourth quarter, an increase of more than 100% compared to net revenues in the prior year period. The company also reported an operating loss of $279 million and adjusted operating income of $90.1 million, down from 94.2 million in the prioryear period.

Annaly Capital Management chief investment officer bought 100,000 shares

Chief Investment Officer David L. Finkelstein bought 100,000 shares on Sept. 1 for $12.49. The stock price has decreased by 1.12% since.

Annaly Capital Management is an American mortgage real estate investment trust. The company borrows money via short-term repurchase agreements and reinvests the proceeds in asset-backed securities. The company generates profits from the net interest spread between the interest it earns from assets and borrowing costs. The company has a market cap of $13.44 billion; as of Sept. 8 it traded at $12.35.

On Aug. 2 Annaly Capital Management reported second-quarter financial results for the period ended June 30. The company had a GAAP net income of $14.5 million, a 1-cent loss per average common share. The company also reported GAAP return on average equity of 0.46% and core return on average equity of 10.54%. The company also declared a common stock dividend of 30 cents per share for the 15th consecutive fiscal quarter.

For the complete list of stocks that were bought by their company executives, go to: Insider Trades.

Disclosure: I do not own stock in any of the companies mentioned in the article.

This article first appeared on GuruFocus.


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