COO Carsten Merforth buys 7,000 shares at $3.62; cluster of 3 insider buys in 14 days amid -39.1% 90-day decline and negative earnings
Merforth Carsten, COO of Wood Products, purchased 7,000 shares at $3.62 on 2025-05-08, increasing his holdings by +44.7% from 15,651 to 22,651 shares. This transaction is part of a cluster pattern—2 other insiders also bought within the past 14 days—suggesting coordinated activity at the operating executive level. The purchase occurred at a backdrop of significant recent weakness: the stock has declined -39.1% over 90 days and -23.9% over the past 30 days, trading at -63.8% from its 52-week high of $10.90. The company is currently unprofitable, with a net loss of $22.3M on revenue of $507.0M in the latest quarter, and its market capitalization stands at $264.1M. The contemporaneous multi-insider buying pattern and the magnitude of Merforth's share increase merit scrutiny into whether this reflects confidence in a turnaround or other factors influencing executive purchase decisions.