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Bargain Hunters Take Note: Insider Cluster-Buying At AKS

By Metals Channel Staff, Tuesday, November 27, 12:27 PM ET
Play Video: The Importance of Insider Buying

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A particularly strong insider buying signal is what we call a "cluster-buy" where three or more different insiders make open market purchases within a short period of one another. At AK Steel Holding Corp. (NYSE:AKS), 3 different insiders purchased 24,000 shares at an average price of $3.83/share, for a total of $91,840, with the most recent purchase on November 23, 2012.

Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. So when multiple insiders all decide to make purchases around the same time, it could be a strong indication that the stock is undervalued. Below is a table summarizing the insider buys that make up this "cluster":

Purchased Insider Title Shares Price/Share Value
11/26/2012 David C. Horn Exec V.P., Gen. Counsel & Sec. 10,000 $3.83 $38,280.00
11/26/2012 Ralph S. Michael III Director 10,000 $3.82 $38,200.00
11/23/2012 John S. Brinzo Director 4,000 $3.84 $15,360.00

The chart below shows the one year performance of AKS shares, versus its 200 day moving average. Note that AKS's low point in its 52 week range is $3.42 per share, with $10.33 as the 52 week high point that compares with a last trade of $3.83, with shares currently trading up about 0.3% on the day.

AK Steel Holding Corp. Chart

According to the ETF Finder at ETF Channel, AKS makes up 2.56% of the SPDR S&P Metals and Mining ETF (AMEX:XME) which is trading lower by about 0.4% on the day Tuesday.

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