Directors dealings: Melrose director picks up shares in buy-out specialist

Melrose Industries´s non-executive director David Lis picked up a large chunk of shares in the London-listed buy-out specialist, the company said in a statement.

Lis bought three tranches of stock on 2 September, numbering 100,000, 23,000 and 3,500 shares each, giving him a 0.023% stake in the firm.

He paid 151.78p, 151.67p and 151.46p per share for each tranche, respectively, for a total consideration of £191,965.2.

Lis joined the board of Melrose on 12 May 2016.

On 31 August Melrose closed the acquistion of US-listed Nortek, the global manufacturer of air management, security, home
automation and ergonomic and productivity products and solutions.

In the following session analysts at JP Morgan re-initiated their coverage of Melrose with an 'overweight' stance and a December 2017 target price for the shares of 180p.

The broker said the Nortek deal felt like a very "'Melrose-like'" opportunity, "an under-managed, under- invested and under-performing asset acquired at a fair price for current trading but not the longer-term potential."

"In a sector where fundamentals remain challenged and we struggle to find value we see management and self-help stories as relatively attractive; in this regard we believe Melrose is best-in-class. We reinstate our rating on Melrose at overweight."

Shares in Melrose finished 2.69% higher at 152.75p on Friday on stronger than average trading volumes.

Top Director Buys

Melrose Industries (MRO)
Director name: Lis,David
Amount purchased: 100,000 @ 151.78p
Value: £151,783.49

Kaz Minerals (KAZ)
Director name: Heale,Simon
Amount purchased: 28,000 @ 175.70p
Value: £49,196.00

Melrose Industries (MRO)
Director name: Lis,David
Amount purchased: 23,000 @ 151.67p
Value: £34,883.20

Jimmy Choo (CHOO)
Director name: Parker,Meribeth
Amount purchased: 12,000 @ 126.50p
Value: £15,180.00

Murray International Trust (MYI)
Director name: Hardie,David
Amount purchased: 1,390 @ 1,090.56p
Value: £15,158.78

Murray International Trust (MYI)
Director name: Hardie,David
Amount purchased: 1,390 @ 1,090.56p
Value: £15,158.78

Northern Bear (NTBR)
Director name: Hayes,Tom
Amount purchased: 20,000 @ 45.00p
Value: £9,000.00

Melrose Industries (MRO)
Director name: Lis,David
Amount purchased: 3,500 @ 151.46p
Value: £5,301.10

Personal Assets Trust (PNL)
Director name: Sharp,Jean
Amount purchased: 6 @ 39,800.00p
Value: £2,388.00

Personal Assets Trust (PNL)
Director name: Angus,Robin John
Amount purchased: 4 @ 39,800.00p
Value: £1,592.00

Personal Assets Trust (PNL)
Director name: Sharp,Jean
Amount purchased: 3 @ 40,190.00p
Value: £1,205.70

Bankers Petroleum Ltd.(cdi) (BNK)
Director name: Urch,Douglas C
Amount purchased: 769 @ $C1.93
Value: $C888.09

Legal & General Group (LGEN)
Director name: Wilson,Nigel
Amount purchased: 92 @ 213.40p
Value: £196.33

Centrica (CNA)
Director name: Hanafin,Mark
Amount purchased: 64 @ 233.91p
Value: £149.70

Premier Oil (PMO)
Director name: Rose ,Richard
Amount purchased: 210 @ 71.25p
Value: £149.62

Stagecoach Group (SGC)
Director name: Paterson,Ross
Amount purchased: 67 @ 222.45p
Value: £149.04

Stagecoach Group (SGC)
Director name: Griffiths,Martin Andrew
Amount purchased: 67 @ 222.45p
Value: £149.04

Premier Oil (PMO)
Director name: Durrant ,Tony
Amount purchased: 175 @ 71.25p
Value: £124.69

Premier Oil (PMO)
Director name: Allan,Robin
Amount purchased: 175 @ 71.25p
Value: £124.69

Top Director Sells

Vp (VP.)
Director name: Stothard,Neil A
Amount sold: 3,995 @ 713.00p
Value: £28,484.35

Vp (VP.)
Director name: Bainbridge,Allison
Amount sold: 2,585 @ 713.00p
Value: £18,431.05