Mark Robertshaw, the Chief Executive Officer of Morgan Crucible purchased 35,000 shares in the the FTSE 250 industrial materials group on the same day stock broker Jefferies hailed the stock as cheap, compared to its sector peers.
Robertshaw purchased the shares at 290.00p for a total of £101,500, increasing his stake in the company to just under 0.54m shares, equal to 0.19% of the issued share capital.
The broker said that, "any share price weakness today [Tuesday] should be considered a medium term buying opportunity".
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Jeffries' comments came as the company revealed it had stuck to its full year expectations despite a slower start to the year than it forecast.
The firm said revenue in the first four months of 2012 at reported rates was marginally below the comparable period last year.
Anticipated growth in the company's engineered materials division was hit by both a downturn in the solar market and the slowing of the Chinese economy.
The stock has fallen more than 13%, or 42p, in the past year, and it down 18%, or 60p, in the last week.
Top Director Buys
Morgan Crucible Co (MGCR)
Director name: Mr Mark Robertshaw
Amount purchased: 35,000 @ 290.00p
Value: £101,500
Witan Pacific Inv Trust (WPC)
Director name: Mr Alan Barber
Amount purchased: 24,000 @ 199.00p
Value: £47,760
Kofax (KFX)
Director name: Mr Joe Rose
Amount purchased: 10,000 @ 250.00p
Value: £25,000
Top Director Sells
Legal & General Group (LGEN)
Director name: Mr Tim J Breedon
Amount sold: 1,984,536 @ 111.33p
Value: £2,209,384
Barclays (BARC)
Director name: Mr Robert E Diamond Jr
Amount sold: 149,323 @ 205.76p
Value: £307,247
Barclays (BARC)
Director name: Mr Chris Lucas
Amount sold: 34,679 @ 205.76p
Value: £71,356
Legal & General Group (LGEN)
Director name: Mr Mark Gregory
Amount sold: 21,444 @ 111.33p
Value: £23,874
Witan Pacific Inv Trust (WPC)
Director name: Mr Alan Barber
Amount sold: 12,000 @ 195.38p
Value: £23,446
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