Monday’s Insider Report: C-suite executives are buying this lumber stock on price weakness

Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships, including accounts they have control or direction over.

The list features insider transaction activity; it does not convey total ownership information as an insider may hold numerous accounts.

Keep in mind, when looking at transaction activities by insiders, purchasing activity may reflect perceived value in a security. Selling activity may or may not be related to a stock’s valuation; perhaps an insider needs to raise money for personal reasons. An insider’s total holdings should be considered because a sale may, in context, be insignificant if this person has a large remaining position in the company. I tend to put great weight on insider transaction activity when I see multiple insiders trading a company’s shares or units.

Listed below are two stocks that have had recent buying activity in the public market reported by insiders.

Interfor Corp. (IFP-T)

Between March 24-28, executive vice-president of U.S. operations Bruce Luxmoore bought a total of 16,800 shares at an average cost per share of approximately US$16.26, increasing this particular account’s position to 31,782 shares. The cost of these purchases exceeded US$273,000.

Between March 1-27, chief financial officer Rick Pozzebon bought a total of 12,568 shares at an average price per share of approximately $22.80 for two accounts, after which one account held 35,936 shares and a different account (RRSP) held 10,535 shares. The cost of these purchases exceeded $286,000.

In March, president and chief executive officer Ian Fillinger invested over $198,000 in shares of Interfor. On March 24, he acquired 2,200 shares at a price per share of $22.20 and on March 1, he bought 6,700 shares at a cost per share of $22.392. After these trades, this specific account held 74,045 shares.

Martinrea International Inc. (MRE-T)

On March 23, executive vice-president, fluids business unit and propulsion systems commercial group Alfredo Alonso invested US$100,000 in shares of Martinrea. He acquired 10,000 shares at a price per share of US$10, raising this specific account’s holdings to 49,806 shares.

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Listed below are two stocks that have had recent selling activity in the public market reported by insiders.

Evertz Technologies Ltd. (ET-T)

On March 23, chief technology officer Rakesh Patel sold 60,000 shares at a price per share of $10.50 for an account in which he has control or direction over (2240144 Ontario Inc.), after which this particular account held 584,800 shares. Proceeds totaled $630,000, not including commission charges.

Kinross Gold Corp. (K-T)

Last month, chief operating officer Claude Schimper sold a total of 115,000 shares with proceeds exceeding $613,000, excluding trading fees. On March 3, he divested 80,000 shares at a price per share of $5.11 and on March 23, he sold 35,000 shares at a price per share of $5.85. After these transactions, this particular account held 42,747 shares. 

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