The Canadian stocks we’ve discovered have seen some big-money insider buying during the past few weeks
SmallCapPower | April 7, 2021: Insiders are defined as company management or individuals or institutions that own more than 10% of a company’s shares. When insiders buy their company’s stock it shows confidence in the future of its business. Today we have uncovered three Canadian stocks with recent notable dollar insider buying.
*Returns are based on closing stock prices as of April 6, 2021
Martinrea International Inc. (TSX:MRE) – $13.12
Martinrea International is a Canada-based auto parts producer. The Company produces steel metal formed parts, aluminum components, and fluid management systems. Martinrea operates in 57 locations in Canada, the United States, Mexico, Brazil, Germany, Slovakia, Spain, China, South Africa and Japan. Between March 22 and 31, company director Ed Waitzer invested more than C$257,000 in Martinrea stock at an average price per share of $12.87. And, on March 9 executive chairman Rob Wildeboer acquired $161,000 in company stock at a price per share of $13.82.
Enbridge Inc. (TSX:ENB) – $46.25
Enbridge is an energy transportation and distribution company with core businesses that include Liquids Pipelines, which transports approximately 25% of the crude oil produced in North America; Gas Transmission and Midstream, which transports approximately 20% of the natural gas consumed in the U.S.; Gas Distribution and Storage, which serves approximately 3.8 million retail customers in Ontario and Quebec ; and Renewable Power Generation, which generates approximately 1,750 MW of net renewable power in North America and Europe. On March 30, Enbridge executive vice-president Robert Rooney invested over $254,000 in the company’s stock at a price per share of $46.26.
Allied Properties Real Estate Investment Trust (TSX:AP.UN) – $41.70
Allied REIT is an owner, manager, and developer of distinctive urban workspaces in major cities in Canada. The Company also focuses on network-dense urban data centres in Toronto that form Canada’s hub for global connectivity. On March 29, Allied Properties chairman Gord Cunningham bought more than $206,000 worth of AP.UN at cost per unit of $41.31.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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