Actuant Corp Investors Cheer Insider Purchases

Shares of Actuant Corporation (NYSE: ATU) spiked well into positive territory Thursday following the intraday disclosure of several notable insider buys by executives at the company. They include the following:

• Pres, CEO Robert Arzbaecher bought 210,000 shares at, on average, prices ranging from $23.34 to $24.31. The exec now holds nearly 400,000 shares in total.
• CFO Andrew Lampereur purchased 20,000 shares around $23.12, bringing his total number of shares to just over 337,000.
• Exec VP of HR Eugene Edward Skogg bought 5,000 shares around $23.68 to bring his total number of shares held to around 50,400.

The stock, which had traded in the red for most of the morning session, jumped as much as 2.9 percent to a morning high at $24.98 immediately after the SEC filings were made available.

Shares most recently traded at $24.67, up about 1 percent from Wednesday's close.