March 05, 2012 at 17:21 PM EST
Insider Buys: MLP CEO, Former Chicago Mayor
If you screen the past seven days’ insider purchases for CEOs buying at big companies — those with a market capitalization of $5 billion or greater — one buyer comes up: Stanley C. Horton, head of Boardwalk Pipeline Partners. Boardwalk (BWP) is an energy master limited partnership based in Houston that yields 7.7%; it is [...]

If you screen the past seven days’ insider purchases for CEOs buying at big companies — those with a market capitalization of $5 billion or greater — one buyer comes up: Stanley C. Horton, head of Boardwalk Pipeline Partners.

Boardwalk (BWP) is an energy master limited partnership based in Houston that yields 7.7%; it is a unit of the conglomerate Loews (L), which owns hotel, insurance and other energy businesses.

Widening the screen using InsiderScore.com to include the CFO and directors at big companies, here are a few other noteworthy purchases:

  • A director at Rayonier (RYN), Brown C. David II, purchased shares valued at $752,000, the largest single purchase in recent days.
  • A director at Marsh & McLennan (MMC),  Yost R. David (the former CEO of pharmaceutical services giant AmerisourceBergen), purchased shares valued at $425,200, the second largest buy. He joined the Marsh board in January.
  • Two directors at Coca-Cola (KO), Richard M. Daley — the mayor of Chicago from 1989 to 2011– and Evan G. Greenberg, purchased shares in recent days.  Greenberg purchased Coke shares worth $249,000 at an average price near $69; over time, he has been a seller of Coke stock. But Daley was named to the Coke board in December and this was his first purchase: shares valued at $68,900 at an average price of near $69, according to a filing dated Feb. 28. Coke’s biography of Daley says he is working as a legal and financial adviser on projects including a joint venture between JPMorgan Chase (JPM) and the Brookings Institution that is helping cities identify economic development resources.
  • In addition, Harold C. Simmons, listed as an officer at Valhi (VHI), a Dallas chemicals and waste management business,  purchased Valhi shares worth $316,000 last week at prices between $57 and $58;  the stock sank 4% to $55.43 Monday. Simmons has a number of corporate interests and chairs the holding company that owns most of Valhi, according to a Motley Fool article that names him a significant contributor to Republican candidates and causes.
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