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| Grab This Bargain Even Cheaper Than Director Lee Jr. DidBy Dividend Channel Staff, Monday, June 12, 10:20 AM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on June 7, Advance Auto Parts Inc's Director, Eugene I. Lee Jr., invested $500,160.45 into 7,635 shares of AAP, for a cost per share of $65.51. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Monday, bargain hunters could buy shares of Advance Auto Parts Inc (NYSE:AAP) and achieve a cost basis 2.0% cheaper than Lee Jr., with shares changing hands as low as $64.20 per share. Advance Auto Parts Inc shares are currently trading up about 2.1% on the day. The chart below shows the one year performance of AAP shares, versus its 200 day moving average:
Looking at the chart above, AAP's low point in its 52 week range is $63.56 per share, with $212.25 as the 52 week high point — that compares with a last trade of $65.22. By comparison, below is a table showing the prices at which AAP insider buying was recorded over the last six months:
The current annualized dividend paid by Advance Auto Parts Inc is $1/share, currently paid in quarterly installments, and its most recent dividend has an upcoming ex-date of 07/13/2023. Below is a long-term dividend history chart for AAP, which can be of good help in judging whether the most recent dividend with approx. 1.6% annualized yield is likely to continue.
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