RGC Resources Inc. (NASDAQ:RGCO)’s Director Jr D Raymond Smoot was awarded with 37.6 shares at a price of $19.4 per share, under the Restricted Stock Plan for Outside Directors of RGC Resources, Inc. In addition, he made a small acquisition under Rule 16a-6, acquiring with optional cash contribution under the RCG Resources, Inc. Dividend Reinvestment and Stock Purchase Plan, 41 shares of common stock, at a Price of $19.4. Following this transaction, Mr. Smoot beneficially owns about 19 million shares, and shares 250 shares indirectly to his spouse.
This holding company hasn’t perceived any insider transactions since 2012. In fact it was Mr. Smoot who acquired 2550 shares during 2012, at prices ranging from $17.82 to $18.10. Mr. Smoot is currently the only insider to have procured shares at the company in 10 years. Nevertheless, 2013 has seen two insiders sell. Vice Presdient & Secretary RGC Resources Inc. (NASDAQ:RGCO) Dale Lee sold 500 shares at a Price of $18.69 per share, and Director Mr. Smoot, sold 108 shares that year, for $18.89 per share.
Moreover, none of the major hedge funds that we track hold long positions in this stock.