Titanium Metals Corporation (NYSE:TIE) revealed today in a
Form 4 filing with the SEC that it's Chairman & CEO, Harold Simmons, purchased another 200,000 shares on the open market today in a deal worth over $4.7 million. He had
previously bought 155,400 in September and
125,000 shares on July 14th. This transaction brings his stake to over 61 million shares. TIE has been slowly trending down to $23.82 after peaking at a split-adjusted $44.81 per share in May. The company is a producer of titanium products used in the aerospace industry among others, and has benefited from the spike in the aerospace industry (by companies like Boeing) for titanium used in their landing gear and other parts. The company's stock has dropped recently as commodity prices have slid to lows and inflation pressure has mounted. This insider buying activity could indicate that the CEO believes the company is ready for a turnaround.
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