Russel Metals set its 52-week high of $32.65 on Feb. 20. Insiders started taking profits, including director Alain Benedetti, who managed to sell some shares at $32.09 on Feb. 21. However, as the stock began trading below $25 in December, Mr. Benedetti was back into the market, this time buying along with other insiders. All told, insiders spent $611,768 buying shares in the public market since the beginning of December. Some of that buying came as recently as Tuesday, after the company’s fourth quarter results were released on Feb. 7.
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.