CE Franklin Ltd (AMEX:CFK) -- Insider Buying
Looks like Smith International (10% Benefitial Owner) thinks CFK is a good buy at $3.00/share. They bought up a full 4% of the float in one purchase on June 12.
Insider & restricted shareholder transactions reported over the last year
Date, Who, Shares, Stock, Transaction
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12-Jun-01, SMITH INTERNATIONAL INC (10% Beneficial Owner), 250,000, CFK, Purchased at $3.00/Share, Cost of $750,000.
3-May-01, SMITH INTERNATIONAL INC (10% Beneficial Owner), 91,600, CFK, Purchased at $3.80/Share, Cost of $348,080.
2-May-01, SMITH INTERNATIONAL INC (10% Beneficial Owner), 50,000, CFK, Purchased at $3.98/Share, Cost of $199,000.
1-May-01, SMITH INTERNATIONAL INC (10% Beneficial Owner), 500, CFK, Purchased at $3.99/Share, Cost of $1,995.
30-Apr-01, SMITH INTERNATIONAL INC (10% Beneficial Owner), 2,200, CFK, Purchased at $3.83/Share, Cost of $8,426.
27-Apr-01, SMITH INTERNATIONAL INC (10% Beneficial Owner), 1,100, CFK Purchased at $3.74/Share, Cost of $4,114.
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Closing price on Friday: $2.85/share (4.7X EBITDA).
Business Summary
CE Franklin Ltd. engages in the purchasing, warehousing, selling and servicing of supplies and equipment for oil and gas exploration and production. The Company's main focus is to leverage long-term relationships with manufacturers that depend on CE Franklin to get their products efficiently into the operations of hundreds of engineering, drilling, production and well servicing companies throughout Canada's oil and gas producing regions. Other services provided by the service centers include pump repair, customized pump designs and testing and 24-hour on-call service. In addition, CE Franklin provides well optimization analysis, custom invoicing and pricing and Electronic Data Interchange and electronic funds transfer to meet the customers' specific needs.
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