Top buys by directors: Carter Jr.’s $744,200 bet on BSM

JDirectors of a company tend to have a unique inside view of the company. Thus, when directors make large purchases, investors are advised to take this into account. Presumably the only reason a director of a company would choose to take his hard-earned money and use it to buy stock on the open market is because he expects to make money – maybe he finds the stock very undervalued, or maybe he sees some interesting things happening within the company, or maybe both. So, in this series, we look at the largest insider buys by corporate directors during the six-month period, one of which totaled $744,200 by Thomas L. Carter Jr., CEO and Chairman of Black Stone Minerals LP (Symbol: BSM).

Bought Initiated Title Shares Price/Share Assess
05/08/2022 Thomas L. Carter Jr. CEO and President 50,000 $14.88 $744,172.00

Carter Jr.’s average cost is $14.88/share. In Tuesday’s trading, bargain hunters could buy shares of Black Stone Minerals LP (Ticker: BSM) and hit a lower cost base than Carter Jr., with shares changing hands as low as 14 $.62 per share. Shares of Black Stone Minerals LP were changing hands at $14.74 when last checked, trading up around 0.3% on Tuesday. The chart below shows the one-year performance of BSM shares, compared to its 200-day moving average:

Looking at the chart above, BSM’s low point in its 52-week range is $9.47 per share, with $17.36 as its 52-week high – compare with a last trade of 14.74 $.

The current annualized dividend paid by Black Stone Minerals LP is $1.68/share, currently paid in quarterly installments, and its most recent dividend has an upcoming ex-date of 11/8/2022. Below is a graph of long-term dividend history for BSM, which may be useful in determining whether the most recent dividend with approx. The annualized return of 11.4% should be maintained.

BSM+Dividend+Historical+Chart

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.