Supremex’s largest shareholder has once again increased its stake in the LaSalle company specializing in the manufacturing of envelopes and packaging products.
The trust of the late businessman Jerry Zucker (ex-CEO of La Baie) told stock market authorities on Thursday that it had acquired a block of 150,600 shares.
The $628,000 transaction brings the trust’s stake in Supremex to just over 24%.
The quality and sustainability of BCE’s dividend continue to be the talk of the town. Analyst Adam Shine of National Bank Financial added his two cents this week. In a note published Friday, he says there is nothing to fear. “One of the last things to worry about on the list of worries year after year in the telecommunications sector in the country is the safety of the BCE dividend. He expects another 5% increase in early February and doesn’t see the possibility of a freeze or cut anytime soon.
Quebecor begins buying back its shares for cancellation purposes. The parent company of Videotron bought back nearly 1.3 million shares in August. This is the first time that Quebecor has bought back shares since last fall and analyst Vince Valentini of TD said he was surprised to see these buybacks shortly after the acquisition of Freedom and just before the auctions for blocks of spectrum next month.
The share buyback signals, he said, that Quebecor is not concerned about financing subscriber growth at Freedom because management intends to maintain a balanced approach to gaining market share ( that is, no disruptive price war strategy) or that the company is not worried about overbidding (or overspending) for spectrum.
Whatever the reason, the takeovers are, in his opinion, positive for Quebecor and the wireless industry.
TD’s Brian Morrison noted Thursday that he expects Dollarama to revise its forecast upwards for same-store sales when the Montreal retailer reveals its results on Wednesday. He’s not the only one who thinks so. For the stock market surge to continue, Dollarama must continue to demonstrate that it is gaining market share.
Alithya gained a new admirer this week. Analyst Neeham Upadhyaya, from iA Capital Markets, launched official coverage on Tuesday of the activities of the Montreal company specializing in the digital transformation of organizations by recommending the purchase of the stock. Alithya is on the cusp of a breakthrough, according to this expert who emphasizes that the company is growing at a sustained pace. He expects margins to improve “considerably” over the next two years. “Operating in a stable sector provides a safety net for turnover,” he says. Five out of seven analysts now suggest buying.
Another Saputo executive has just purchased shares in the Montreal dairy processor. Frank Guido, president and chief operating officer of the U.S. Dairy Division, purchased a block of 3,400 shares on September 1 at a unit price of $29.56.
A sector rotation is coming, according to strategist Sébastien Mc Mahon at iA Global Asset Management.
Recent price movements in the stock markets present interesting opportunities for convergence, such as purchases in the energy sector rather than the technology sector or in the materials sector rather than U.S. stocks.
“So we made a tactical trade by taking a long position in energy and a short position in technology, which aims to take advantage of the rotation between technology (growth) and energy (value)”, he is specified in its monthly analysis published this week.
“The relative performance of these two sectors since the start of 2023 follows a mirror image, making energy a good candidate for a pairs arbitrage transaction. More specifically, since the July peak, we have also seen a marked deterioration in market breadth (measured by the percentage of stocks trading above their 50-day moving average) in the technology sector , while it reached 100% in the energy sector. »
Quebec securities of Couche-Tard, ADF, WSP, TFI and CAE all reached a 52-week high on the Toronto Stock Exchange this week.
In contrast, Transcontinental, Fiera Capital and PyroGenesis slipped this week to 52-week lows.
