In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), International Baler Corp (OTCMKTS:IBAL) reported that Boren Leland E has picked up 4,026,709 of common stock as of 2017-07-14.
The acquisition brings the aggregate amount owned by Boren Leland E. to a total of 4,026,709 representing a 77.68% stake in the company.
For those not familiar with the company, International Baler Corporation is a manufacturer of baling equipment. The Company’s baling equipment is fabricated from steel and utilizes hydraulic and electrical components to compress a range of materials into bales for handling, shipping, disposal, storage and for recycling. Materials baled by the Company include scrap metal, corrugated boxes, newsprint, aluminum cans, plastic bottles and other solid waste. Its products include general purpose horizontal and vertical balers; specialty balers, such as those used for textile materials, used clothing, aluminum cans, 55-gallon drums and synthetic rubber, and accessory equipment, such as conveyors, fluffers, bale tying machines and plastic bottle piercers. The Company sells its products throughout the United States and in Europe, the Far East and South America to manufacturers of synthetic rubber and polymers, cotton gins, supermarkets and other retail outlets, paper recycling facilities and municipalities, among others.
A glance at International Baler Corp (OTCMKTS:IBAL)’s key stats reveals a current market capitalization of $10.37 Million based on $5.18 Million shares outstanding and a price at last close of $2.00 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-07-13, Avis picked up 4,485 at a purchase price of $2.00. This brings their total holding to 1,392,813 as of the date of the filing.
On the sell side, the most recent transaction saw Griffin, unload 18,600 shares at a sale price of $2.50. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on International Baler Corp (OTCMKTS:IBAL) as things move forward to see if its progress aligns with these transactions.
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