Insider Buying Thursday’s Insider Report: CEO and CFO are buyers of this stock tied to the housing market
Listed below is a stock that has had recent buying activity reported by insiders.
Interfor Corp.
On Aug. 27, president and chief executive officer Ian Fillinger bought 3,800 shares at a cost per share of $26.41, increasing this particular account’s position to 60,770 shares. The cost of this investment exceeded $100,000.
That day, chief financial officer Rick Pozzebon was also a buyer in the public market. He acquired a total of 8,990 shares at an average price per share of approximately $26.26 for three accounts (personal investing, RRSP, and TSFA). The cost of these purchases exceeded $236,000.
In June, Interfor paid its shareholders a special one-time dividend of $2 per share.
In the second-quarter earnings release issued on Aug. 5, management provided a bullish industry outlook, “North American lumber markets over the near term are expected to remain above historical trends driven by continued strong demand from new housing starts, albeit with volatility driven by the level of demand from repair and remodel activity as the North American economy adjusts to the COVID-19 pandemic recovery.”