Small scale insidersIt's always interesing to see -- guys buying a truck or so worth of stock at a time. The big news recently clearly was Pattison -- for what he paid for WFT stock he could have flat out owned WEF ($460M of WEF is about 54% of WEF's equity). That guy hunts elephants; he could really cobble together a mega firm just by poaching the stragglers, but credit to him for thinking big.
The WEF guys really need to claw back the dividend in the interim. Cash cowing it is fine for industries that are not capital intensive, but this payout ratio is far too high. OSB tripled thier dividend but have the earning power to make it ~33% of FCF now and future state 25% of FCF. It should never be over that threshold, at least if you want to breat out of the trading range (1.80 to 2.50). I'd buy iin aagin f the payout went away. The issue with this is mathematically I cannot figure how this could exceed $2.50 per share, based on $35M of EBITDA and light debt. Then again, what do I know -- wierd things can happen.