Insider buying... On March 8, president and chief executive officer Pat D’Eramo acquired 39,559 shares at an average cost per share of approximately US$6.34, increasing this particular account’s position to 231,450 shares. The cost of this purchase exceeded US$250,000.
On March 8, executive chairman Rob Wildeboer bought 12,000 shares at a price per share of $8.46, raising this specific account’s holdings to 540,000 shares. The cost of this investment totaled over $101,000.
On March, 8, executive vice-president – human resources Armando Pagliari invested over $89,000 in shares of Martinrea. He purchased 11,000 shares at a price per share of $8.10, after which this particular account held 66,898 shares.
Year-to-date, the share price has declined 29 per cent with the stock now in oversold territory. The RSI (relative strength index) is 28. Generally, an RSI reading at or below 30 reflects an oversold condition.
The company pays its shareholder a quarterly dividend of 5 cents per share or 20 cents per share yearly, equating to a current annualized yield of 2.5 per cent.