Bosses at Bodycote (BOY) have cashed in after a couple of successful years for the company best known for its heat treatment, metal joining, hot isostatic pressing and coating services. Chief executive Stephen Harris pocketed £3.2m from the sale of 441,000 shares, and the following day his colleague, finance director David Landless, followed suit by disposing of 200,000 shares for just shy of £1.5m.
IC TIP:
Hold
at
710p
The engineer has enjoyed a purple patch since embarking on a tidying up operation in 2009. Decisions to close down underperforming plants, implement a model whereby customers are analysed individually and prices set accordingly, and focus more on specialist technologies have pushed adjusted operating margins up to 18.2 per cent.
Concerns remain over Bodycote's exposure to the oil and gas industry. But Mr Harris recently told us the sector accounts for just a tenth of sales, of which one-third is based on specialist technologies with strong pricing power.
Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| 7digital | Sir Don Cruickshank (ch) | 27 Mar 15 | 140,000 | 17.46 | 24,444 | 290,000 | 0.270 |
| Cenkos Securities | Gerry Aherne (ch) | 31 Mar 15 | 18,800 | 199.89 | 37,579 | 55,000 | 0.095 |
| Cenkos Securities Ω ♥ | Dr Anthony Hotson | 31 Mar 15 | 11,996 | 199.97 | 23,988 | 32,860 | 0.057 |
| Diploma | Andrew Smith | 30 Mar 15 | 5,500 | 811 | 44,605 | 5,500 | 0.005 |
| GlaxoSmithKline | Sir Christopher Gent (ch) | 31 Mar 15 | 3,991 | 1,566 | 62,499 | 136,566 | 0.003 |
| GlaxoSmithKline † | Lynn Elsenhans | 31 Mar 15 | 2,207 | 1,580.23 | 34,876 | 21,522 | <0.001 |
| GlaxoSmithKline † | Dr Daniel Podolsky | 31 Mar 15 | 2,220 | 1,580.23 | 35,081 | 65,250 | 0.001 |
| GlaxoSmithKline † | Sir Deryck Maughan | 31 Mar 15 | 2,959 | 1,580.23 | 46,759 | 90,033 | 0.002 |
| GLI Finance | Geoff Miller | 30 Mar 15 | 40,000 | 58 | 23,200 | 2,110,802 | 0.987 |
| Greencoat UK Wind | Martin McAdam | 26 Mar 15 | 35,000 | 109.7 | 38,395 | 35,000 | 0.008 |
| Hutchison China Meditech | Edith Shih | 01 Apr 15 | 15,000 | 1,365 | 204,750 | 48,000 | 0.090 |
| Hutchison China Meditech | Edith Shih | 30 Mar 15 | 13,000 | 1,300 | 169,000 | 33,000 | 0.062 |
| Hutchison China Meditech | Simon To (ch) | 01 Apr 15 | 15,000 | 1,365 | 204,750 | 69,000 | 0.130 |
| Hutchison China Meditech | Simon To (ch) | 30 Mar 15 | 13,000 | 1,300 | 169,000 | 54,000 | 0.102 |
| Indivior | Shaun Thaxter (ce) | 27 Mar 15 | 20,000 | 196 | 39,200 | 500,000 | 0.070 |
| ITV | Archie Norman (ch) | 31 Mar 15 | 11,142 | 255.9 | 28,512 | 1,308,640 | 0.033 |
| KBC Advanced Technologies ♥ | Oliver Scott | 27 Mar 15 | 150,000 | 98 | 147,000 | 10,387,550 | 12.668 |
| KBC Advanced Technologies ♥ | Oliver Scott | 31 Mar 15 | 50,000 | 98.67 | 49,337 | 10,437,550 | 12.729 |
| London Capital Holdings | Charles-Henri Sabet (ce) | 31 Mar 15 | 100,000 | 27 | 27,000 | 2,000,000 | 2.681 |
| Monitise | Elizabeth Buse | 01 Apr 15 | 500,000 | 13.25 | 66,250 | 1,005,868 | 0.047 |
| Monitise | Lee Cameron | 01 Apr 15 | 250,000 | 13.25 | 33,125 | 288,880 | 0.013 |
| Monitise ♥ | Tim Wade | 31 Mar 15 | 250,000 | 14.14 | 35,350 | 350,000 | 0.016 |
| New Europe Property Investments | Jeff Zidel | 30 Mar 15 | 4,525 | 838.76 | 37,954 | 298,201 | 0.106 |
| Ocean Wilsons Holdings | C Maltby | 31 Mar 15 | 3,000 | 855 | 25,650 | 8,000 | 0.023 |
| Plant Impact | John Brubaker (ce) | 31 Mar 15 | 40,000 | 52.5 | 21,000 | 646,000 | 0.807 |
| Porta Communications ♥ | Bob Morton (ch) | 26 Mar 15 | 1,343,766 | 7.5 | 100,782 | 34,286,318 | 12.814 |
| Produce Investments ♥ | Barrie Clapham (ch) | 26 Mar 15 | 100,000 | 127 | 127,000 | 6,322,015 | 23.713 |
| Produce Investments ♥ | Angus Armstrong (ce) | 30 Mar 15 | 25,000 | 131.5 | 32,875 | 383,790 | 1.440 |
| RM2 International | John Walsh (ce) | 01 Apr 15 | 1,200,000 | 54 | 648,000 | 22,252,680 | 6.889 |
| Shire † | Susan Kilsby (ch) | 31 Mar 15 | 375 | 5,339.46 | 20,023 | 9,948 | 0.002 |
| Super | Euan Sutherland (ce) | 30 Mar 15 | 10,117 | 980.5 | 99,197 | 11,613 | 0.014 |
| Synectics | David Coghlan (ch) | 31 Mar 15 | 20,000 | 114 | 22,800 | 1,521,303 | 8.549 |
| Tungsten Corp ♥ | Edmund Truell (ce) | 30 Mar 15 | 128,697 | 192.91 | 248,269 | 17,451,123 | 16.856 |
| Tungsten Corp ♥ | Edmund Truell (ce) | 31 Mar 15 | 70,000 | 200.9 | 140,630 | 17,521,123 | 16.924 |
| Vislink | Robin B Howe | 27 Mar 15 | 100,000 | 49.88 | 49,875 | 1,232,578 | 1.005 |
| Walker Crips | Kin Wai Lam | 27 Mar 15 | 221,000 | 43.02 | 95,074 | 422,996 | 1.127 |
| Walker Crips ♥ | Lim Hua Min | 27 Mar 15 | 221,000 | 43.02 | 95,074 | 9,087,500 | 24.212 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Barratt Developments | Mark Clare (ce) | 30 Mar 15 | 1,900,000 | 530 | 10,070,000 | 303,903 | 0.031 |
| Barratt Developments ✿ | Mark Clare (ce) | 30 Mar 15 | 137,961 | 530 | 731,193 | 2,203,903 | 0.222 |
| Barratt Developments | Steven Boyes | 30 Mar 15 | 500,000 | 526 | 2,630,000 | 478,275 | 0.048 |
| Barratt Developments ✿ | Steven Boyes | 30 Mar 15 | 76,645 | 526 | 403,153 | 978,275 | 0.099 |
| Bodycote | David Landless (fd) | 31 Mar 15 | 200,000 | 725 | 1,450,000 | 300,493 | 0.157 |
| Bodycote | Stephen Harris (ce) | 30 Mar 15 | 441,000 | 727.73 | 3,209,276 | 138,812 | 0.073 |
| British Polythene Industries | John Langlands (ce) | 30 Mar 15 | 5,000 | 685 | 34,250 | 395,240 | 1.454 |
| British Polythene Industries ♥ | David Harris (fd) | 31 Mar 15 | 5,000 | 680 | 34,000 | 140,614 | 0.517 |
| Crest Nicholson Holdings | Patrick Bergin (fd) | 30 Mar 15 | 300,000 | 420.61 | 1,261,830 | 916,362 | 0.364 |
| InterContinental Hotels | Tracy Robbins | 31 Mar 15 | 28,047 | 2,632 | 738,197 | 183,997 | 0.078 |
| Jardine Lloyd Thompson | Mark Drummond-Brady (ce) | 30 Mar 15 | 2,669 | 1,059 | 28,265 | 81,569 | 0.037 |
| Jardine Lloyd Thompson ♥ | Mark Drummond-Brady (ce) | 30 Mar 15 | 2,669 | 1,059 | 28,265 | 77,495 | 0.035 |
| Keller ♥ | Justin Atkinson (ce) | 27 Mar 15 | 132,771 | 979.49 | 1,300,479 | 159,886 | 0.223 |
| Keller ♥ | Justin Atkinson (ce) | 30 Mar 15 | 17,229 | 977.6 | 168,431 | 142,657 | 0.199 |
| NAHL | Samantha Porteous | 27 Mar 15 | 3,101,184 | 250 | 7,752,960 | 0 | 0.000 |
| Nichols | Peter Nichols (ch) | 30 Mar 15 | 17,060 | 1,180 | 201,308 | 2,060,000 | 5.572 |
| STV | Rob Woodward (ce) | 31 Mar 15 | 100,000 | 383 | 383,000 | 419,322 | 1.067 |
| Synthomer | David Blackwood (fd) | 27 Mar 15 | 10,000 | 315 | 31,500 | 133,190 | 0.039 |
| Town Centre Securities | Dr. Michael Ziff | 01 Apr 15 | 50,000 | 301.5 | 150,750 | 3,201,513 | 6.022 |
| Wolseley | F W Roach | 26 Mar 15 | 31,400 | 3,992.45 | 1,253,629 | 36,122 | 0.014 |
| Wolseley | Ian Meakins (ce) | 26 Mar 15 | 50,000 | 3,992.45 | 1,996,225 | 134,293 | 0.051 |
| Wolseley | John Martin (cfo) | 26 Mar 15 | 23,977 | 3,992.45 | 957,270 | 80,944 | 0.030 |
| Wolseley ♥ | John Martin (cfo) | 26 Mar 15 | 2,000 | 3,992.45 | 79,849 | 66,044 | 0.025 |
| Wood Group (John) | Michael Contie | 01 Apr 15 | 4,634 | 634.5 | 29,403 | 0 | 0.000 |
| *Placing/tender/open offer ♥Spouse/connected party ΩIsa/Sipp/trust †Depositary receipts ✿Shares under the October 2012 ESOS | |||||||
