Directors dealings: Chemring chief scoops up shares

Chemring chief Michael Flowers picked up 15,000 shares in his company on 11 August, at an individual price of 133p each, for a total disbursement of £19,950.

The manufacturer of military countermeasures and electronics reported an 11.3% rise in first half 2016 revenues to £180.1m on 20 June, alongside a 23% reduction in net debt to £114.4m.

Despite the above, the company incurred in a loss and management warned that the fiscal year 2016 outturn was likely to be slightly below market expectations.

On 20 July, analysts at JP Morgan raised their target prices for several of the aerospace and defence companies under their coverage.

In Chemring's case they bumped up their target from 124p to 130p.

Overall, they expected several trends to become apparent in the sector after the companies updated investors on their progress in the second quarter or at the half-year stage.

Among those trends, they expected 2016 to mark the trough for the decline in US defence spending which began in 2009 although there was some risk from a "likely" Continuing Resolution in the backhalf of the year, a foreign exchange tailwind from pound weakness and increased IFRS pension deficits.

Top Director Buys

Mx Oil (MXO)
Director name: Olivier,Stefan
Amount purchased: 5,000,000 @ 0.99p
Value: £49,500.00

Stock Spirits Group (STCK)
Director name: Maloney,David
Amount purchased: 20,000 @ 164.30p
Value: £32,860.00

Stock Spirits Group (STCK)
Director name: Jackson,Lesley
Amount purchased: 20,000 @ 163.00p
Value: £32,600.00

Mx Oil (MXO)
Director name: Olivier,Stefan
Amount purchased: 2,500,000 @ 0.95p
Value: £23,750.00

Mx Oil (MXO)
Director name: Olivier,Stefan
Amount purchased: 2,500,000 @ 0.93p
Value: £23,250.00

Altitude Group (ALT)
Director name: Hallett,Peter
Amount purchased: 135,000 @ 17.00p
Value: £22,950.00

Chemring Group (CHG)
Director name: Flowers ,Michael
Amount purchased: 15,000 @ 133.00p
Value: £19,950.00

Schroder Real Estate Investment Trust Ltd (SREI)
Director name: Bligh,Stephen
Amount purchased: 25,000 @ 54.95p
Value: £13,737.50

U And I Group (UAI)
Director name: Shepherd ,Marcus
Amount purchased: 3,013 @ 164.90p
Value: £4,968.44

Zotefoams (ZTF)
Director name: McGrath ,Gary
Amount purchased: 57 @ 265.25p
Value: £151.19

Zotefoams (ZTF)
Director name: Stirling,David
Amount purchased: 57 @ 265.25p
Value: £151.19

Share Plc (SHRE)
Director name: Ecsery,Francesca Eva
Amount purchased: 517 @ 29.00p
Value: £149.93

Share Plc (SHRE)
Director name: Thomas ,Gareth
Amount purchased: 517 @ 29.00p
Value: £149.93

Share Plc (SHRE)
Director name: Stone,Richard William
Amount purchased: 517 @ 29.00p
Value: £149.93

Share Plc (SHRE)
Director name: Birkett,Mike
Amount purchased: 517 @ 29.00p
Value: £149.93

Share Plc (SHRE)
Director name: Tolkien,Richard
Amount purchased: 517 @ 29.00p
Value: £149.93

Top Director Sells

Telit Communications (TCM)
Director name: Fait ,Yosi
Amount sold: 632,998 @ 267.55p
Value: £1,693,586.10

Telit Communications (TCM)
Director name: Fait ,Yosi
Amount sold: 210,227 @ 265.01p
Value: £557,120.27

Greggs (GRG)
Director name: Hutton,Richard
Amount sold: 41,170 @ 1,050.00p
Value: £432,285.00

Telit Communications (TCM)
Director name: Fait ,Yosi
Amount sold: 140,152 @ 265.07p
Value: £371,501.32

Telit Communications (TCM)
Director name: Fait ,Yosi
Amount sold: 29,648 @ 272.54p
Value: £80,802.78

Churchill Mining (CHL)
Director name: Radke,Gregory
Amount sold: 22,000 @ 27.00p
Value: £5,940.00