Two months ago, Brammer's (BRAM) chief executive Ian Fraser was asking institutions to buy shares in a placing. Now he's selling. Mr Fraser, a member of the industrial parts distributor's board since 1998, sold almost a third of his holding at the end of May at a price of 479.46p a share. Perhaps he was tempted by the fact that the shares are bobbing along at their highest levels since 2001.
IC TIP:
Hold
at
500p
That strong share price performance is, at least in part, due to Mr Fraser's proactive measures to hunt down growth in what remains a patchy European macroeconomic recovery. In January, Brammer snapped up Scandinavian distribution business Lonne for a consideration of up to £46m.