Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of titanium dioxide pigments producer Kronos Worldwide
So what: News was pretty sparse for Kronos today -- and by sparse, I mean there was none. However, the company did disclose in a Securities and Exchange Commission filing that CEO Steven Watson bought roughly 7,000 shares on the open market yesterday. Insider purchasing often gets investors excited, so it could be this new commitment from Watson that's put some pep in shares today.
Now what: Even after today's purchase, Watson doesn't own an overwhelming amount of Kronos stock. But when it comes to insider activity, I've always liked the logic that selling can mean a lot of things -- a kid's college tuition, a new house, diversification -- while buying generally means only one thing: They think the stock's going higher. The 7,000 shares that Watson bought equate to roughly $275,000, and that's on a 2009 salary of $693,000. After a rough couple of years for Kronos, it would seem that the company's CEO sees better days ahead.
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