Interested in Possibly becoming a shareholder I've been watching the company ticker for a little over a month and how it kinda acts, I've read all the messages on this board, and news releases that really don't give much info, but nor would I expect from something this small.
For those that have been holding for a while:
What caused the post Covid jump? Was the upward movement just based on the larger than previous payouts as the company caught up to demands?
If so is it the consensus that this will eventually find its way back into the sub $4 range that it was sitting in for a few years?
It popped up on a dividend site I scan with as it looks like they have begun to acknowledge coverage of some new small cap dividend companies on the TSXV otherwise I likely wouldn't have found this seemingly interesting gem. Also funny enough, I believe my professional trade uses the finished products from the Fiberglass insulation manufacturers, that said I'm in Ontario so this company's reach wouldn't really affect my area.
Someone asked about insulation manufacturers East of the Prairies:
Owens Corning (Pink Panther) is the most well known, for Commercial and Industrial uses as pipe and HVAC covering it's the least used, the product is very expensive, the only jobs it is uses on for those purposes have a manufacturing deal in place on the construction project so the supply is discounted, I myself can only think of using it twice in my 16 year career. That said the baton product is widely used in Comercial and residential construction mostly for wall and ceiling filler and is an easy to get retail product in Home Depot and other construction stores. In the US it's overall use in Industrial and Comercial is much stronger.
Manson is a regular yellow spun and moulded cheaper product we use regularly from our suppliers, I know it's manufactured in Nova Scotia for sure, likely more plants I'm not aware of in the Montreal and likely Ontario areas too.
Rockwool produces the standard green board you see on the sides of buildings and is used widely on industrial applications of all types and in the oil refineries for piping and tank covering, the company has several small plants usually close to hubs for production.
Crossroads CCI is the most widely used product manufacturer and supplier in my area and covers all of the country as far as I know, I believe it's based outta Alberta, but has several plants and supply outlets in Ontario. I would expect they are a large customer of supplies from Vitreous out west.
I'm not aware of where eastern manufacturers get thier feedstock, but obvious they are well supplied.
I will say the insulation industry is trying to move away from fiberglass products as there is now spun and moulded products that are supposed to be glass free that are becoming widely used by the industry and are becoming part of project agreements for ESG and ISO requirements in contracts. Fiberglass insulation is banned in California as it is listed as a 'possible carcinogen' (it's WHIMS classification is debated and is only listed as a warning) due to chemicals used in the manufacture especially formaldehyde which is for the most part getting eliminated. Also fiberglass is a lung irritant because of its microscopic structure and can cause similar damage to asbestos, tho it is much much times less as vicious as asbestos, it's dust can contribute to the effects of lung cancer just short of being listed as a 'cause'. There are no lawsuits or standards for fiberglass exposure that I am aware of in the construction industry, but it is under watch as it took asbestos 40-60 years to get the notoriety it's had, Fiberglass is getting onto around 40ish years as one of the major replacements to asbestos use. Currently only manufacturing facilities reach exposure limits that pose toxic bodily effects, but that and regulations may change. I only mention this information because if regulations and standards change more widely, this type of insulation will likely be restricted and cut in use, which would likely hurt Vitreous as a supplier of feedstock. Obviously I'm aware of this as a risk yet I'm still interested in the company as I don't feel this is a major headwind at this time and for these regulations to change you will hear lots of noise and should provide ample time to evacuate from your holdings should it become a reality.
If your an ESG investor I suggest run away, altho products made and developed are good for energy efficiency/savings and supposedly lead to net neutral footprint, I call bull$hit because these products are not bio-soluable or bio-degradable in the environment and are never recycled after manufacture/use. While inuse they are positive, but they have an effective lifespan for 15-30 years at best in industry perfect scenarios (which is rather rare), yet once finished the lifecycle they are just a toxic waist.
Thank you in advance to responses to my questions posted above.