$22M Bet On This Basic Materials Stock? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed lower on Thursday, 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.

Tecnoglass

• The Trade: Tecnoglass Inc. TGLS 10% owner Energy Holding Corp acquired a total of 519,412 shares an average price of $42.26. To acquire these shares, it cost around $21.95 million
• What’s Happening: Tecnoglass reported better-than-expected Q4 results.
• What Tecnoglass Does: Tecnoglass Inc designs, manufactures, distributes, and markets architectural glass and windows.

A. O. Smith

• The Trade: A. O. Smith Corporation AOS Director Michael M Larsen acquired a total of 4,000 shares at an average price of $66.89. To acquire these shares, it cost around $267.54 thousand.
• What’s Happening: A.O. Smith reported better-than-expected Q4 EPS and sales results.
• What A. O. Smith Does: A.O. Smith Corporation manufactures and markets comprehensive lines of residential and commercial gas, gas tankless, and electric water heaters.

Don’t forget to check out our premarket coverage here

Keurig Dr Pepper

• The Trade: Keurig Dr Pepper Inc. KDP Director Robert Singer bought a total of 1,000 shares at an average price of $34.70. To acquire these shares, it cost around $34.7 thousand.
• What’s Happening: Keurig Dr Pepper reported fourth-quarter FY22 sales growth of 12.1% year-on-year, to $3.80 billion, beating the consensus of $3.78 billion.
• What Keurig Dr Pepper Does: Keurig Dr Pepper was established in 2018 following a merger between Keurig Green Mountain Coffee and Dr Pepper Snapple.

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