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The largest Insider Buys this week were for FedEx Corp. (NYSE:FDX), NuStar Energy LP (NYSE:NS), Cadence Bancorp (NYSE:CADE) and Sun Communities Inc. (NYSE:SUI).
FedEx director bought 10,000 shares
Director John A. Edwardson bought 10,000 shares on Dec. 20 for an average price of $148.22. The share price has increased by 2.91% since then.
FedEx is an international courier delivery services company that is known for its overnight shipping and its pioneering package tracking system, which has now been implemented by most other courier services. The company is a component of both the S&P 100 and the DJTA. The company has a market capitalization of $39.83 billion; as of Dec. 27, it traded at $152.53.
On Dec. 17, FedEx reported financial results for the second quarter of 2020 ended Nov. 30. GAAP revenue was $17.3 billion for the quarter, compared with revenue of $17.8 billion during the prior-year quarter. GAAP operating income was $554 million. Net income was $560 million.
NuStar Energy director bought 1,500 shares
Director Dan J. Hill bought 1,500 shares on Dec. 23 for an average price of $26.19. The stock has declined 0.04% since then.
NuStar Energy is an American petrochemical company. It is one of the largest independent natural gas liquids terminal and pipeline operators in the United States, owning 8,700 miles of pipeline and 79 terminal and storage facilities. These facilities store and distribute crude oil, refined products and specialty liquids. The company has a market capitalization of $2.84 billion; as of Dec. 27, it traded at $26.18.
On Nov. 20, NuStar Energy announced the beginning of its Binding Open Season for a capacity expansion of the company's Midland Trunk line within the NuStar Permian Crude System. The company wants to expand the capacity of its 20-inch Midland Trunk line that runs from Stanton Terminal to Midland Junction by adding pump upgrades at Stanton Terminal. The expansion would provide an additional 60,000 barrels per day of capacity to the pipeline.
Cadence Bancorp director bought 1,809 shares
Director Scott M. Stuart bought 1,809 shares on Dec. 19 for an average price of $17.6. The share price has increased by 1.87% since then.
Cadence Bancorp is an American bank holding company with 98 branches in Alabama, Georgia, Florida, Tennessee, Mississippi and Texas. The company is a component of the Russell 2000 Index. The company has a market capitalization of $2.3 billion; as of Dec. 27, it traded at $17.93.
On Oct. 23, Cadence Bancorp reported financial results for the third quarter. Net income was $44 million for the quarter, or 34 cents per diluted common share, compared to $47.1 million, or 56 cents per diluted share for the year-ago quarter. Adjusted earnings per share for the quarter were 34 cents, compared to earnings per share of 58 cents last year. Loans totaled $13.6 billion.