$9.2 Million Bet On This Basic Materials Stock? 3 Stocks Insiders Are Buying

Although US stocks closed higher on Friday, there were a few notable insider trades.

When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.

Mativ Holdings

• The Trade: Mativ Holdings, Inc. MATV President, CEO Julie Schertell acquired a total of 21,600 shares at an average price of $24.10. To acquire these shares, it cost around $520.56 thousand.
• What’s Happening: Mativ recently reported better-than-expected Q2 sales results.
• What Mativ Holdings Does: Mativ Holdings Inc formerly Schweitzer-Mauduit International Inc is a diversified producer of premium specialty papers and resin-based products.

Quaker Chemical

• The Trade: Quaker Chemical Corporation KWR 10% owner QH Hungary Holdings Ltd acquired a total 50,000 shares at an average price of $184.27. To acquire these shares, it cost around $9.21 million.
• What’s Happening: Quaker Houghton recently reported better-than-expected Q2 results.
• What Quaker Chemical Does: Quaker Houghton manufactures and sells a variety of industrial process fluids.

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Also check this U.S. Stock Futures Higher Ahead Of Consumer Sentiment Report

Donegal Group

• The Trade: Donegal Group Inc. DGICA 10% owner Donegal Mutual Insurance Co bought a total of 19,900 shares at an average price of $14.79. To acquire these shares, it cost around $294.42 thousand.
• What’s Happening: Donegal Group last month reported Q2 EPS results were lower year over year.
• What Donegal Group Does: Donegal Group Inc is an insurance holding company that offers personal and commercial lines of property and casualty insurance to businesses and individuals.