Weekly Canadian Insider Buys Update
Notable Insider Buys
1. ZCL Composites (TSX:ZCL)
On May 8, two insiders made significant buys into ZCL Composites.
Director Harold Roozen made the largest buy, adding 300,000 shares at $4.75 per share. He spent $1,425,000 on this transaction. Since his buy, the price per share of ZCL has increased 5.26%. Roozen now holds on to over 3 million shares.
CFO and Corporate Secretary Kathy Demuth bought a much smaller 2,500 shares, also at $4.75 per share. Her total was $11,875 for the buy. Demuth now owns a total of 5,500 shares.
ZCL Composites has grown to become North America’s leading designer, manufacturer and supplier of cost-effective fiberglass storage tank systems to the petroleum industry. ZCL offers underground and aboveground tank options that can be used for a variety of applications including storage of fuel, potable water, wastewater and other hazardous chemicals.
ZCL Composites has a market cap of $144.499 million; its shares were traded at around $5.00 with a P/E ratio of 10.17. The dividend yield of ZCL Composites is 1.40% which is a 3-year high.
The company’s gross margin has been in long-term decline. The average rate of decline per year is -6.5%.
Mawer New Canada Fund holds 1,455,000 shares of ZCL Composites which represents 0.91% of their total portfolio.
2. Wajax Corp. (TSX:WJX)
Wajax reported four insider buys on May 14 coming from Director Alan Foote. Foote bought a total of 10,000 shares at an average price of $32.23. He spent a total of $321,831 on these transactions.
These buys come as the price of Wajax has hit a 52-week low.
Wajax Corp. is engaged in the sale and after-sales of parts and service support of equipment and components to a customer base which spans natural resources, construction, manufacturing, transportation, industrial processing and utilities. Its three core businesses are: the distribution, rental, modifications and servicing of mobile equipment; the distribution, servicing and assembly of industrial components; and the distribution and servicing of diesel and natural gas engines, transmissions and power generators.
Wajax has a market cap of $539.081 million; its shares were traded at around $31.84 with a P/E ratio of 9.12 and a P/S ratio of 0.37. The dividend yield of Wajax Corp sotcks is 10.18%. Wajax had an annual average earnings growth of 7.2% over the past 10 years. GuruFocus rated Wajax Corp the business predictability rank of 2.5-star.
The GuruFocus analysis reports:
· The per share revenue has been in decline over the past year
· The gross margin has been in a long-term decline. The average rate of decline per year is -2.3%.
· Wajax has issued $119.15 million of debt over the past three years.
· The dividend yield is close to a 3-year high.
Wajax trades at around $32.36 this morning.
3. Sprott Resource Lending (TSX:SIL)
This past week, Sprott Resource Lending reported three insider buys coming from two different senior officers.
VP of Origination Andrew Steuter made two buys, adding a total of 84,500 shares at an average price of $1.482 per share. This cost the VP a total of $125,827. Since these buys, the price per share of Sprott Resource has increased approximately 4.61%.
President and COO Narinder Nagra bought 100,000 shares on May 13. These shares traded at $1.53 per share for a total transaction amount of $153,000. He now holds on to at least 200,000 shares of company stock. Since Nagra’s buy the price per share has increased 1.31%.
Sprott Resource Lending is a natural resource lender focused on providing financing to mining and oil and gas companies. Accessing capital from Sprott Resource allows mid cap and junior resource companies to execute on their strategic plans through increasing their enterprice value or restructuring their capital base in a less dilutive manner.
Sprott Resource Lending Corp. has a market cap of $220.465 million; its shares were traded at around $1.50 with a P/E ratio of 22.68 and a P/S ratio of 21.43. The dividend yield of Sprott Resource Lending Corp. stocks is 3.87%.
There are currently no gurus that hold stake in Sprott Resource Lending.
With its shares up 3.33% this morning, TSX:SIL trades at $1.55.
4. Pason Systems (TSX:PSI)
Since the beginning of May, four insiders have made buys into the company.
CFO David Elliot bought 1,700 shares on May 10. These shares traded at $17.64 per share for a total transaction amount of $29,988. The price of Pason Systems has increased 0.79% since his buy.
President and CEO Marcel Kessler bought 6,262 shares of Pason at an average price of $12.49 per share. The CEO spent $72,212 on this buy. Since this transaction the price per share of Pason has increased 42.35%.
General Manager of Canada David Holodinsky added 1,510 shares to his stake on May 7. The shares traded at an average price of $17.44 per share. Holodinsky spent a total of $26,334 on this buy. The price has increased 1.95% since then.
Chief Technology Officer Dean Tremaine made the first and largest transaction of the month, adding 10,000 shares of Pason. This buy cost Tremaine a total of $174,800. The price per share has increased 1.72% since Tremaine’s buy.
On May 1 Pason Systems declared a quarterly dividend of $0.13 per share. The dividend will paid July to shareholders of record at the close of business on June 14, 2013. The Board approved, In Nov. 2012, a change to the company’s dividend policy where by beginning in 2013 the company would adopt a quarterly dividend to replace the semi-annual dividend.
Pason Systems is an international oil services company. Pason provides instrumentation systems for rent or sale to land-based and offshore drilling operations in the oil and gas industry. Pason’s products provide an integrated package of complex services including: data acquisition, well site reporting, remote communications and internet information management tools.
Pason Systems has a market cap of $1.47 billion; its shares were traded at around $17.84 with a P/E ratio of 36.23 and a P/S ratio of 3.83. The dividend yield of Pason Systems is 3.31%. Pason had an annual average earnings growth of 7.6% over the past 10 years.
CI Can-Am Small Cap Fund holds 317,100 shares of Pason Systems, making up 4.76% of the firm’s total assets managed.
To view a complete list of all Canadian insider transactions, click here.
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