Intertape Polymer: 3 Different Insiders Have Purchased Shares This Month

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 |  About: Intertape Polymer Group, Inc. (ITPOF)
by: Markus Aarnio

Summary

3 insiders purchased Intertape Polymer stock within one month.

The stock was sold by no insiders in the month of intensive purchasing.

2 of these 3 insiders increased their holdings by more than 10%.

Intertape Polymer Group (OTCPK:ITPOF) operates in the packaging industry in North America and internationally.

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Insider buying during the last 30 days

Here is a table of Intertape Polymer's insider activity during the last 30 days.

Name Title Trade Date Shares Purchased Current Ownership Increase In Shares
George Bunze Director June 13 3,500 60,371
shares
+6.2%
Jeffrey Crystal CFO June 3 1,589 1,589 shares from 0 to 1,589
James Pantelidis Director June 26 5,000 10,000 shares +100%
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There have been 10,089 shares purchased by insiders during the last 30 days.

Insider buying by calendar month

Here is a table of Intertape Polymer's insider activity by calendar month.

Month Insider buying / shares Insider selling / shares
June 2014 10,089 0
May 2014 20,900 0
April 2014 0 0
March 2014 5,000 0
February 2014 0 0
January 2014 50 0
December 2013 0 410
November 2013 0 0
October 2013 0 0
September 2013 0 407,000
August 2013 0 1,000
July 2013 0 0
June 2013 0 215,751
May 2013 0 96,555
April 2013 0 217,242
March 2013 0 168,457
February 2013 0 0
January 2013 0 0
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(Note: The table doesn't include shares acquired or disposed pursuant to a purchase/ownership plan)

There have been 36,039 shares purchased and there have been 1,106,415 shares sold by insiders since January 2013. The month of May 2014 has seen the most insider buying.

Financials

Intertape Polymer reported the first-quarter financial results on May 8 with the following highlights:

Revenue $199.9 million
Net income $11.6 million
Cash $5.8 million
Debt $149.1 million
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The three insiders purchased their shares after these results.

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(Source: Earnings presentation)

Outlook

Intertape Polymer's second-quarter guidance is as follows:

Revenue growth Up 3%-5% over Q2 2013
Gross margin Similar to Q1 2014 level
Adjusted EBITDA Up 3%-5% over Q2 2013
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(Source: Earnings presentation)

Competition

Intertape Polymer's competitors include 3M Company (NYSE:MMM), and AEP Industries (NASDAQ:AEPI). Here is a table comparing these companies.

Company ITPOF MMM AEPI
Market Cap: 680.69M 94.14B 180.24M
Employees: N/A 88,667 2,600
Qtrly Rev Growth (yoy): 0.02 0.03 0.03
Revenue: 784.75M 31.07B 1.16B
Gross Margin: 0.21 0.48 0.11
EBITDA: 103.32M 8.12B 45.04M
Operating Margin: 0.10 0.22 0.01
Net Income: 94.80M 4.74B -3.67M
EPS: 1.52 6.90 -0.65
P/E: 7.37 20.85 N/A
PEG (5 yr expected): N/A 1.73 N/A
P/S: 0.87 3.03 0.15
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Intertape Polymer has the lowest P/E ratio among these three companies.

Here is a table of these competitors' insider activities this year.

Company Insider buying / shares Insider selling / shares
MMM 0 153,232
AEPI 0 511,155
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Only Intertape Polymer has seen insider buying this year.

Conclusion

There have been three different insiders buying Intertape Polymer and there have not been any insiders selling Intertape Polymer during the last 30 days. Two of these three insiders increased their holdings by more than 10%.

The three insiders purchased their shares at prices ranging from $10.98 (C$11.75) to $12.07 (C$12.91). I believe Intertape Polymer could be a good pick below $12.07 based on the intensive insider buying.

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(Source: Earnings presentation)

Disclosure: The author has no positions in any stocks mentioned, but may initiate a long position in ITPOF over the next 72 hours. The author wrote this article themselves, and it expresses their own opinions. The author is not receiving compensation for it (other than from Seeking Alpha). The author has no business relationship with any company whose stock is mentioned in this article.

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