- CRH director spends $2.5 million
- Persimmon CEO buys over £100,000 shares
- Melrose CFO snaps up over £99,000 shares
Dean Finch, chief executive of UK housebuilder Persimmon (PSN), bought 7,621 shares at £13.15 for a total value of £100,216 on 12 March, after which he owns 24,078 in the company.
Finch may be taking advantage of the 7% share price fall over the past month after Persimmon reported a 52% fall in annual pre-tax profit to £351.8 million citing higher interests hitting house buyer demand.
CRH DIRECTOR BUYS $2.5 MILLION SHARES
Non-executive director of FTSE 100 buildings materials supplier CRH (CRH) Richard Fearon increased his holding in the firm with two separate purchases on 5 March.
Fearon bought 10,000 shares at $83.65 for a total value of $836,500 and 20,000 shares at $81.51 for a total value of $1,630,200 on 5 March.
The move comes after CRH reported a 22% jump in EPS (earnings per share) for the full year and a 7% rise in revenue to $34.9 billion boosted by taking on more government infrastructure contracts.
Fearon is capitalising on a strong company performance over the past 12 months with his $2.5 million purchase - year-to-date CRH shares are up 22%.
MELROSE CFO BUYS OVER £99,000 SHARES
Matthew Gregory, chief financial officer of UK manufacturing company Melrose (MRO), bought 16,670 shares at 596p for a total value of £99,353 on 12 March.
The FTSE 100 group raised its adjusted operating profit outlook to between £550 million and £570 million for 2024.
Annual revenue rose from £2.9 billion to £3.3 billion, beating analysts’ expectations, and over the past year Melrose shares have doubled to 622p.
Gregory’s bullish purchase could be viewed by investors as a continuing vote of confidence in the company.
