Following Stocks: Popular, Black Hills, Spartan Motors, Sterling Bancorp, and
CHICAGO--(BUSINESS WIRE)--Sept. 1, 2004
Charles Carlson says insider buying is a great way to
gauge a company's prospects. Read about one stock from this DRIP
expert's portfolio that has seen a lot of insider buying of late, and
then read about four new direct-purchase plans. Read about Popular
(NASDAQ:BPOP), Black Hills (NYSE:BKH), Spartan Motors (NASDAQ:SPAR),
Sterling Bancorp (NYSE:STL), and Trizec Properties (NYSE:TRZ).
Charles Carlson is editor of the DRIP Investor newsletter. Click here
for the full story exclusively on Zacks.com:
Here are the highlights from the Featured Expert column:
One useful tool for getting a read on a company's prospects is to
look at what corporate insiders -- directors, major shareholders, and
executives -- are doing with the company's stock. Tracking insider
buying and selling has never been easier given the plethora of Web
sites that provide such information.
One Editor's Portfolio holding that has seen its share of insider
buying in recent months is Popular (NASDAQ:BPOP). Three different
insiders purchased the stock in August. The stock, yielding 2.7%,
represents a quality play in the banking sector. Popular's
direct-purchase plan permits initial investment with a minimum $100.
The firm picks up all fees on the buy side. Also, DRIP participants
receive a 5% discount on shares purchased with reinvested dividends.
Round-Up of New Direct Purchase Plans
The last few months have been a busy period for new
direct-purchase plans. These are plans that permit any investor to buy
the first share and every share directly from the company. The
following are reviews of several new direct-purchase plans.
Black Hills (NYSE:BKH) provides electric service to customers in
South Dakota, Wyoming, and Montana. The company's dividend of $1.24
per share is well covered by profits that should come in around $1.67
per share in 2004/ The stock ranks as one of the better plays in the
Spartan Motors (NASDAQ:SPAR) manufactures custom chassis and
vehicles for the recreational vehicle, fire truck, ambulance, and
emergency-rescue markets. Spartan posted a solid second quarter, with
per-share earnings beating estimates by $0.04. Revenue for the quarter
was up nearly 42%. Spartan is a rather small company -- market
capitalization is less than $150 million. Thus, these shares will
likely be on the volatile side. However, Charles Carlson is intrigued
by the earnings improvement and stock's resiliency.
Sterling Bancorp (NYSE:STL) is a regional bank with operations in
New York, Virginia, and North Carolina. The company has posted
double-digit earnings growth for 44 consecutive quarters. Dividends
have been paid for 235 consecutive quarters. Sterling is not the
cheapest regional bank on the market. However, the company's track
record merits a premium valuation in the group, and the yield of
nearly 3% enhances the stock's appeal.
Trizec Properties (NYSE:TRZ) is a real estate investment trust
that invests primarily in office buildings. At the end of June, the
company's occupancy rate was 87.1%, up from 85.9% at the end of March.
An improved jobs market would go a long way toward boosting occupancy
and lease rates.
Read Charles Carlson's complete commentary, and get specific
information on the direct-purchase plans for the above-mentioned
companies, by clicking: http://at.zacks.com/?id=85
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