Tree Island Steel Co. Ltd. is down about 25 per cent since its Nov. 3 earnings report. The company attributed third-quarter weakness primarily to caution among U.S.-based industrial segment clients.
Six insiders have bought on the pullback, likely betting that customer confidence will make comeback.
In terms of officers, three have added to their holdings since Nov. 7. James Miller, vice-president of corporate development and procurement, bought 5,000 shares at $4.30, while chief operating officer Remy Gilbert Stachowiak bought 2,600 shares at $4.31. Chief financial officer Nancy Davies bought 2,000 shares at $4.31.
Disclaimer:
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Graph Footnote:
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.