This article presents an overview of Republican Congress Members and Insiders are Buying These 5 Stocks. For a detailed overview of such stocks, read our article, Republican Congress Members and Insiders are Buying These 10 Stocks.
5. Dow Inc (NYSE:DOW)
Unusual Whales Republican ETF (KRUZ) Stake: $205,732.46
Chemical company Dow Inc (NYSE:DOW) is part of the Unusual Whales Republican ETF since the fund owns 3,631.00 shares of Dow Inc (NYSE:DOW).
Dow Inc (NYSE:DOW) saw insider buying activity late last year when Richard K. Davis, a director at Dow Inc’s (NYSE:DOW) board, bought 5,000 shares of Dow Inc (NYSE:DOW) at $51.09 per share. This transaction took place on November 16. Since then through April 22, Dow Inc. shares have gained about 10%.
4. Cleveland-Cliffs Inc (NYSE:CLF)
Unusual Whales Republican ETF (KRUZ) Stake: $210,222.62
Unsurprisingly, Republican Congress members are fans of steel company Cleveland-Cliffs Inc (NYSE:CLF), since the stock is a key part of the Unusual Whales Subversive Republican Trading ETF (KRUZ). The ETF has a $210,222.62 stake in Cleveland-Cliffs Inc (NYSE:CLF). The stock saw insider buying activity recently as Ron A. Bloom, a director at Cleveland-Cliffs Inc (NYSE:CLF), loaded up on 25,000 shares at $20.24 per share. The transaction took place on February 1. Since then through April 22 the stock has gained about 2.4%.
3. NGL Energy Partners LP (NYSE:NGL)
Unusual Whales Republican ETF (KRUZ) Stake: $221,978.75
Tulsa, Oklahoma-based energy company NGL Energy Partners LP (NYSE:NGL) ranks third in our list of the stocks Republicans and insiders love. On February 13, 2024, James M. Collingsworth, a director at NGL Energy Partners LP (NYSE:NGL), loaded up on 100,000 shares of NGL Energy Partners LP (NYSE:NGL) at $5.82 per share. Since then through April 22 the stock has declined by 0.52%.
Here is what Crossing Bridge Advisors has to say about NGL Energy Partners LP (NYSE:NGL) in its Q3 2023 investor letter:
“NGL Energy is a diversified midstream master limited partnership (MLP) that provides transportation, storage, marketing and other logistics services for crude oil, liquid hydrocarbons, and water generated as part of energy production. Experiencing a sharp decline in EBITDA during 2020, NGL repaid its asset-backed loan facility and bridge loan in January 2021 by issuing a 7.50% senior secured note due 2/1/26. Given elevated pro forma net leverage, bond purchasers required a covenant preventing the company from paying dividends until total leverage was reduced below 4.75x EBITDA. Thus, since that bond was issued in January 2021, the company has keenly focused on de-leveraging. “Walking the talk,” the company partially repurchased its 7.50% unsecured notes, due 11/1/23, during 1Q23, ultimately calling the remaining bonds, of which we were holders, at par on 3/31/23. Concurrent with our initial purchases of the unsecured bonds in January 2023, we began to purchase the 7.50% senior secured notes due 2/1/26. With conservative secured leverage and expectations for continued de-leveraging, we were comfortable purchasing these bonds at a weighted average price of 95.8, providing a yield to maturity averaging of 9.14% and the opportunity for a higher rate of return if the company followed through on its stated intention to repay this bond before it became a current liability on 2/1/25.17 To that end, management expressed its intention to repay the 6.125% unsecured bonds, due 3/1/25, no later than the end of March 2024. Still able to purchase the bonds at a discount, we added to the position in the 6.125% bonds in late August, and, in addition, have been actively trading the NGL Series B Preferred Stock. The preferred shares have been accruing their dividend at a rate that resets each quarter, currently 12.783%, and, as of quarter-end, are trading at nearly a 20% discount to their liquidation value which continues to increase with each dividend deferral. As the company is prohibited from making distributions to MLP unit holders until it has paid the preferred dividends that are in arrears and resumed the cash dividend to the preferred shareholders, we anticipate significant catch-up payments as early as late 2024 if the company succeeds in refinancing its capital structure. NGL is a good example of a series of attractive, well-grounded investments, that “advance the runner” without “swinging for the fences.”
2. Intel Corp (NASDAQ:INTC)
Unusual Whales Republican ETF (KRUZ) Stake: $279,037.80
Intel Corp (NASDAQ:INTC) is one of the stocks both Republicans and Democrats like since the stock is an important member of Unusual Whales Subversive Republican Trading ETF (KRUZ) as well as Unusual Whales Subversive Democratic Trading ETF (NANC). Intel Corp (NASDAQ:INTC) is seeing heavy insider buying activity from its CEO Patrick P. Gelsinger this year since he bought 3,000 shares of Intel Corp (NASDAQ:INTC) on January 29 at $43.36 per share. Since then the stock is down 23%.
Ariel Global Fund stated the following regarding Intel Corporation (NASDAQ:INTC) in its fourth quarter 2023 investor letter:
“New holding, Intel Corporation (NASDAQ:INTC), one of the world’s largest semiconductor chip manufacturers by revenue, outperformed in the quarter. Intel is benefitting from the near-term rebound in semiconductor demand driven by the cyclical recovery of personal computers (PCs) and central processing units (CPUs). Shares also traded higher following the company’s Artificial Intelligence (AI) Everywhere launch event. Intel introduced its capabilities across cloud, edge and client hardware and showcased it can benefit from an enterprise upgrade cycle as both cloud-based and traditional enterprises look to incorporate AI features into core technology platforms. In our view, the market is also overlooking the progress Intel has made towards regaining its manufacturing technology advantage and believe the foundry business will continue to experience strong momentum as it grows its customer base and revenue.”
1. Comfort Systems USA, Inc. (NYSE:FIX)
Unusual Whales Republican ETF (KRUZ) Stake: $366,319.80
Comfort Systems USA, Inc. (NYSE:FIX) is part of the Unusual Whales Subversive Republican Trading ETF (KRUZ) since the ETF has a $367,697.96 stake in Comfort Systems USA, Inc. (NYSE:FIX). Rhoman Hardy, a director at Comfort Systems USA, Inc.’s (NYSE:FIX) board, on December 6, 2023, bought 133 shares of Comfort Systems USA, Inc. (NYSE:FIX) at $188.18 per share. He also bought 651 shares of Comfort Systems USA, Inc. (NYSE:FIX) at $191.96 per share on the same date. Since December 6 through April 22 Comfort Systems USA, Inc. (NYSE:FIX) shares have increased about 58% in value.
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