Although Canadian stocks have been travelling at a snail’s pace over the past couple of years, auto parts makers, such as INK Canadian Insider Index member Martinrea International Inc., haven’t had the legs to keep up.
Over the past five years, Martinrea is off about 18 per cent.
However, insiders appear to be betting on a change in direction. From March 29 to June 18, chief executive officer Frank D’Eramo and four officers purchased a total of 47,915 shares in the public market at an average price of $10.66.
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Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.
Ted Dixon