Melrose non-executive director Miles Templeman has invested a further £126,000 in the engineer and industrial products supplier.
Templeman bought 44,665 shares at 281.89p each. That takes his stake to 398,787 shares.
The last time a Melrose director bought shares was back in March 2009. That was Templeman as well and he bought 139,843 shares at 64p each. That price was not far off the 2009 low.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Templeman is a former Whitbread executive who has been Director General of the Institute of Directors for a number of years. He is also non-executive chairman of Shepherd Neame.
Templeman has been a non-executive director of Melrose since October 2003 when it floated on AIM. It moved to the Main Market two years later.
Melrose saw profits surge in the first half of 2010 despite flat underlying revenues.
Headline profit before tax for the first half was £78.1m, up from £53m the year before, while "as reported" profit before tax was £60.4m, versus £38.4m last year.
Although revenues were essentially flat compared with the corresponding period of last year they are an improvement on the second half of last year.
Margins improved across the business.
Top Director Buys
Melrose (MRO) Director name: Mr Miles H TemplemanAmount purchased: 44,665 @ 281.89p Value: £125,906
LMS Capital (LMS) Director name: Mr Glenn PayneAmount purchased: 100,000 @ 51.00p Value: £51,000
TT Electronics (TTG) Director name: Mr Michael Baunton CBEAmount purchased: 10,000 @ 160.00p Value: £16,000
TT Electronics (TTG) Director name: Mr Michael Baunton CBEAmount purchased: 8,641 @ 159.00p Value: £13,739
TT Electronics (TTG) Director name: Mr Michael Baunton CBEAmount purchased: 6,359 @ 159.00p Value: £10,111
Top Director Sells
Mandarin Orirntal International (Singapore) (MDO) Director name: Mr Terry L StinsonAmount sold: 270,000 @ $1.92 Value: $518,238
Axis-Shield (ASD) Director name: Mr Erling M H SundrehagenAmount sold: 20,077 @ 253.00p Value: £50,795
-
Luxury stocks rally after Richemont sales boomCartier owner Richemont’s robust results have boosted sentiment about luxury stocks – but are investors getting carried away?
-
Has inflation been tamed in the UK?After a surprise drop in inflation, the Bank of England is set for more rate cuts in the year ahead. But investors are cautious about pricing in too many cuts
