- Bunzl CEO buys £303,110 shares
- CMC deputy CEO buys £420,284 shares
- C&C CEO buys 100,000 shares
Frank van Zanten, chief executive of outsourcing business Bunzl (BNZL), bought 10,000 shares for a total value of £303,110 on 6 March.
Over the past month, Bunzl shares have fallen 14% despite the FTSE 100 company reporting a 2.2% rise in adjusted full year 2024 pre-tax profit (3 March), its 32nd year of consecutive annual dividend growth, and a further £200 million share buyback.
Van Zanten could therefore be taking advantage of share price weakness to bargain-hunt.
Last December, the company warned its profitability was being knocked back by ‘more persistent’ deflation that it had previously anticipated.
C&C DIRECTOR BUYS 100,000 SHARES
Roger White, chief executive of Dublin-headquartered drinks manufacturer C&C (CCR), bought 100,000 shares at 120p for a total value of £120,580 on 13 March.
White’s move comes after the Magners owner warned annual earnings would miss forecasts, with the shares down 20% over the past year.
The drinks manufacturer expects to report underlying EBIT (earnings before interest and taxation) in the range of €76 million - €78 million ‘modestly below our target due to softer trading across the market in January and February.’
CMC MARKETS DIRECTOR SHARES
David Fineberg, deputy head of derivatives trading platform CMC Markets (CMCX), bought 196,300 shares for a total value of £420,284 on 7 March.
The purchases were made for his SIPP (Self-Invested Pension Plan), the company declared in a statement.
Year-to-date CMC shares have been in the doldrums, falling over 12%, while in February the company announced that chief financial officer Albert Soleiman was stepping with immediate effect less than 18 months after taking up the post.
BANKERS IN SELLING MOOD
In contrast, executives at two UK banks have been reducing their shareholdings over the past few weeks.
Sunil Kaushal, co-head of corporate and investment banking at Standard Chartered (STAN), sold 220,000 shares for £12.64 each on 28 February raising a total of £2.78mn.
Chirantan Barua, chief executive of Scottish Widows and insurance, pensions and investments at Lloyds (LLOY), sold 362,761 on 6 March shares for a total of £268,000.
Over the past 12 months, shares in Lloyds have gained 41% while shares in Standard Chartered have gained 79% since this time last year
