Insider buying in the Canadian housing sector continues. The latest filings to catch our eye are at Canfor Corp. . Insiders (including significant shareholders) already own more than 65 per cent of Canfor stock. One of these significant holders added to his position earlier this month. On Dec. 7, director Jim Pattison acquired 35,000 shares in the public market at $7.45 even as the stock was moving toward new highs for the year.
Canfor stock appears to have some tailwinds behind it. The Bank of Canada is maintaining an ultra-low interest rate policy which is giving construction a boost. Meanwhile, Canfor potentially stands to benefit from a pickup in Asian demand.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. Investments profiled are from a recent edition of the Morning INK report which is distributed daily to subscribers and clients of select financial institutions. INK staff may hold shares in profiled securities.