Victrex chief executive David Hummel's charitable foundation has raised £513,000 from selling shares in the thermoplastic polymers manufacturer.
Hummel is a trustee of The Hummingbird Foundation Inc which sold 50,000 shares at £10.27 each. This is a regular sale. In each of December 2009 and June 2009, The Hummingbird Foundation sold 50,000 shares. It received 796p a share in last December and 561p a share one year ago.
This indicates just how well the Victrex share price has performed over the past year.
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
Victrex increased underlying revenue by more than one-third in the six months to March 2010, while underlying pre-tax profit improved from £21.1m to £31.8m.
Broker KBC Peel Hunt edged up its profit forecast for 2009-10 to £75m, or 64.6p a share. The 2010-11 profit forecast was increased by 12% to £90m, or 77.6p a share. The broker set a target price of £12 a share.
The business is cash generative and net cash is £52.1m.
Top Director Buys
Ted Baker (TBK) Director name: Mr Lindsay D PageAmount purchased: 225,000 @ 506.00p Value: £1,138,500
Tristel (TSTL) Director name: Mr Francisco Angel SolerAmount purchased: 200,000 @ 51.50p Value: £103,000
Deo Petroleum (DEO) Director name: Mr David MarshallAmount purchased: 641,100 @ 13.00p Value: £83,343
Henderson Group (HGG) Director name: Ms Shirley Garrood Amount purchased: 50,249 @ 131.22p Value: £65,937
Deo Petroleum (DEO) Director name: Mr Gregor John GoodwinAmount purchased: 384,700 @ 13.00p Value: £50,011
Mid Wynd International Inv Trust (MWY) Director name: Mr Russell Napier Amount purchased: 5,000 @ 945.00p Value: £47,250
PayPoint (PAY) Director name: Mr Dominic TaylorAmount purchased: 16,150 @ 287.66p Value: £46,457
PayPoint (PAY) Director name: Mr George EarleAmount purchased: 12,224 @ 287.66p Value: £35,164
Deo Petroleum (DEO) Director name: Mr Kevin BurkeAmount purchased: 128,200 @ 13.00p Value: £16,666
TR Property Inv Trust Sigma Shares (TRYS) Director name: Mr Peter WoltonAmount purchased: 25,000 @ 61.41p Value: £15,352
Top Director Sells
Reckitt Benckiser Group (RB.) Director name: Mr Bart BechtAmount sold: 200,000 @ 3,250.64p Value: £6,501,280
Pacific Alliance Asia Opportunity Fund Ltd. (PAX) Director name: Mr Robert C KnappAmount sold: 3,379,956 @ $1.13 Value: $3,832,870
Ted Baker (TBK) Director name: Mr Lindsay D PageAmount sold: 250,000 @ 504.00p Value: £1,260,000
Dairy Farm International (Singapore) (DFI) Director name: Mr Howard Leonard MowlemAmount sold: 150,200 @ $6.30 Value: $946,681
Victrex (VCT) Director name: Mr D R HummelAmount sold: 50,000 @ 1,027.00p Value: £513,500
F&C Asset Management (FCAM) Director name: Mr Alain GrisayAmount sold: 650,000 @ 61.01p Value: £396,500
Tristel (TSTL) Director name: Mr Paul Christopher SwinneyAmount sold: 200,000 @ 51.50p Value: £103,000
F&C Asset Management (FCAM) Director name: Mr David LoganAmount sold: 100,000 @ 61.01p Value: £61,000
Iomart (IOM) Director name: Mr Sarah HaranAmount sold: 100,000 @ 57.00p Value: £57,000
Henderson Group (HGG) Director name: Mr Andrew FormicaAmount sold: 36,834 @ 131.22p Value: £48,334
-
House prices rise 2.9% – will the recovery continue?House prices grew by 2.9% on an annual basis in September. Will Budget policies and ‘higher-for-longer’ rates dent the recovery?
-
Nvidia earnings: what to expectNvidia announces earnings after market close on 20 November. What should investors expect from the semiconductor giant?
