Shaw Group CEO Picks up 250,000 Shares (SHAW)

11/7/2009-According to an Inside Scoop piece entitled "Shaw Group CEO Scoops Up Shares," Avi Salzman writes about the firm's inside trading moves. Salzman says that Shaw's (NASDAQ:SHAW) CEO made two "lucrative stock purchases" this week, and since his purchase the firm's price has rallied 10% already. James Bernhard Jr., founder and CEO of the construction company, purchased 250,000 shares for an aggregate total of $6.4 million, or approximately $25.70 per share. Furthermore, the purchases represent the first buys by any of the company's execs in six years, writes Salzman. A recent announcement by the company regarding a construction contract on a ethylene plant in Turkey sent their shares rallying 8.5%.

Write to Chip Brian at cbrian@tradethetrend.com

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Related terms: ceo, construction, contract, market, nasdaq, plant, securities, turkey