Not everyone has been scared off by Renold's (RNO) recent profit warning. Just one day after weak industrial markets forced the engineer to reduce its 2016 adjusted operating guidance by about 13 per cent, the group's directors moved to capitalise on depressed sentiment by buying a total of 212,235 shares.
Finance director Brian Tenner led the charge by snapping up 100,000 at 33.25 apiece. This vote of confidence was then seconded by transactions involving Mandy Harper, a family member of non-executive chairman Mark Harper, and another non-executive director John Allkins. Investors were clearly pleased, sending the shares in the maker of gearboxes and chains up 6 per cent.
With the group's end markets showing little sign of recovery, remaining shareholders will be hoping that ongoing efficiency measures can continue to limit the impact of lower sales on the bottom line. Broker N+1 Singer have kept the shares rated as a buy, but also slashed adjusted EPS forecasts by 26 per cent and 35 per cent for the years to March 2016 and 2017, respectively.
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| 3i | David Hutchison | 8 Feb 16 | 3,000 | 419.86 | 12,596 | 56,966 | 0.006 |
| 3i | Jonathan Asquith | 8 Feb 16 | 3,000 | 419.86 | 12,596 | 14,001 | 0.001 |
| 3i | Simon Thompson (ch) | 8 Feb 16 | 6,128 | 419.86 | 25,729 | 6,128 | 0.001 |
| 3i | Martine Verluyten | 8 Feb 16 | 3,000 | 419.86 | 12,596 | 21,000 | 0.002 |
| 3i | Peter Grosch | 8 Feb 16 | 1,249 | 419.86 | 5,244 | 1,249 | 0.000 |
| Amati VCT 2 | Michael Killingley | 8 Feb 16 | 4,562 | 109.59 | 4,999 | 49,833 | 0.162 |
| Amati VCT | Peter Lawrence (ch) | 8 Feb 16 | 103,336 | 67.74 | 70,000 | 189,224 | 0.339 |
| Babcock International♥ | Anna Stewart | 8 Feb 16 | 5,656 | 877.736 | 49,645 | 5,656 | 0.001 |
| Babcock International | Victoire De Margerie | 4 Feb 16 | 1,000 | 880 | 8,800 | 1,000 | 0.000 |
| Benchmark♥ | Basil Brookes | 5 Feb 16 | 5,000 | 63.97 | 3,199 | 44,062 | 0.009 |
| Benchmark | Basil Brookes | 5 Feb 16 | 5,000 | 63.97 | 3,199 | 49,062 | 0.010 |
| Booker | Gary Hughes | 8 Feb 16 | 20,000 | 163 | 32,600 | 40,000 | 0.002 |
| Brewin Dolphin Holdings | Simon Miller (ch) | 10 Feb 16 | 10,000 | 254.9 | 25,490 | 75,000 | 0.027 |
| Cohort | Sir Robert Walmsley | 9 Feb 16 | 4,965 | 332 | 16,484 | 30,000 | 0.073 |
| Datatec | J P Montanana (ce) | 5 Feb 16 | 9,000 | 191.2915 | 17,216 | 84,000 | 0.040 |
| Datatec | P J Myburgh (cfo) | 8 Feb 16 | 5,000 | 189.6437 | 9,482 | 75,419 | 0.036 |
| Datatec♥ | S J Davidson (ch) | 10 Feb 16 | 6,384 | 186.533 | 11,908 | 6,384 | 0.003 |
| Electra Private Equity♥ | Edward Bramson | 9 Feb 16 | 550 | 3409 | 18,750 | 11,369,772 | 28.164 |
| Fusionex International | Alan Lim | 5 Feb 16 | 2,000 | 135 | 2,700 | 26,500 | 0.056 |
| IXICO | Derek Hill (ce) | 4 Feb 16 | 10,000 | 33.68 | 3,368 | 487,169 | 1.842 |
| Lakehouse | Johnathan Ford | 10Feb 16 | 50,000 | 38.57 | 19,285 | 83,707 | 0.053 |
| LondonMetric Property | Mark Stirling | 5 Feb 16 | 50,000 | 161.7 | 80,850 | 1,710,557 | 0.272 |
| LondonMetric Property | Andrew Smith | 5 Feb 16 | 15,000 | 162 | 24,300 | 38,000 | 0.010 |
| LondonMetric Property | Andrew Jones (ce) | 5 Feb 16 | 25,000 | 162 | 40,500 | 2,317,455 | 0.369 |
| LondonMetric Property | Valentine Beresford | 5 Feb 16 | 31,076 | 160.9 | 50,001 | 2,171,895 | 0.346 |
| Minds + Machines | Guy Elliott (ch) | 5 Feb 16 | 230,000 | 8.41 | 19,343 | 21,880,000 | 2.892 |
| Northgate♥ | R Contreras (ce) | 5 Feb 16 | 6,000 | 337.68 | 20,261 | 248,776 | 0.187 |
| Northgate | Jill Caseberry | 9 Feb 16 | 5,000 | 329.11 | 16,456 | 5,000 | 0.004 |
| PayPoint | Giles Kerr | 5 Feb 16 | 7,500 | 779 | 58,425 | 7,500 | 0.011 |
| Pinnacle Technology | Simon Duckworth | 10 Feb 16 | 250,000 | 8.2 | 20,500 | 4,250,000 | 1.872 |
| Redrow | Sir Michael Lyons | 9 Feb 16 | 3,000 | 397.76 | 11,933 | 3,000 | 0.001 |
| Regenersis | Ian Powell | 5 Feb 16 | 9,389 | 213 | 19,999 | 11,358 | 0.014 |
| Renold | Brian Tenner (fd) | 10 Feb 16 | 100,000 | 33.25 | 33,250 | 558,396 | 0.250 |
| Rolls-Royce | I Davis (ch) | 8 Feb 16 | 388 | 510 | 1,979 | 38,838 | 0.002 |
| Rolls-Royce | Ruth Cairnie | 8 Feb 16 | 380 | 510 | 1,938 | 8,264 | 0.000 |
| Rolls-Royce | Sir Frank Chapman | 8 Feb 16 | 776 | 510 | 3,958 | 16,450 | 0.001 |
| Royal Dutch Shell | Euleen Goh | 1 Feb 16 | 5,000 | 1464.5 | 73,225 | 10,000 | 0.000 |
| St Modwen Properties | Richard Mully | 5 Feb 16 | 10,000 | 357 | 35,700 | 30,000 | 0.014 |
| St Modwen Properties | Rob Hudson (fd) | 4 Feb 16 | 8,298 | 385.6 | 31,997 | 8,298 | 0.004 |
| St Modwen Properties | Bill Shannon (ch) | 5 Feb 16 | 10,000 | 356 | 35,600 | 85,000 | 0.038 |
| Third Point Offshore Investors | Keith Dorrian | 8 Feb 16 | 2,500 | 1392.3 | 34,808 | 2,500 | 0.005 |
| Third Point Offshore Investors | Chris Legge | 8 Feb 16 | 3,000 | 1401.67 | 42,050 | 3,000 | 0.006 |
| Tullow Oil | Jeremy Wilson | 10 Feb 16 | 30,000 | 145.47 | 43,641 | 45,000 | 0.005 |
| ZincOx Resources* | A Woollett (ce) | 5 Feb 16 | 1,400,000 | 0.55 | 7,700 | 7,686,779 | 3.653 |
| ZincOx Resources* | R Beddows (ch) | 5 Feb 16 | 500,000 | 0.55 | 2,750 | 1,322,500 | 0.629 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| GVC | Norbert Teufelberger | 8 Feb 16 | 460,000 | 490 | 2,254,000 | 2,755,264 | 0.945 |
| IS Solutions | M L S Tinling | 4 Feb 16 | 100,000 | 112 | 112,000 | 368,516 | 1.013 |
| LondonMetric Property | M Stirling | 5 Feb 16 | 45,000 | 161.1 | 72,495 | 1,665,557 | 0.265 |
| LondonMetric Property | A Jones (ce) | 5 Feb 16 | 20,000 | 161.3 | 32,260 | 2,297,455 | 0.366 |
| *Placing/tender/open offer ♥Spouse/connected party ΩTender offer | |||||||
