Directors dealings: Johnson Matthey chairman buys-in

Johnson Matthey chairman, Patrick Webster Thomas, picked-up a large batch of shares in the company he helps run.

On Monday, Thomas bought 4,257 shares at 3,038p apiece, for a total transaction amount of £129,336.59, the company said in a statement.

Roughly two months before, on 21 November, the specialty chemicals manufacturer had posted a 19% jump in first half pre-tax profits to reach £244m on revenue of £7.1bn, which was up 10% from the same period a year ago.

Management also said full-year operating performance would be towards the upper end of its guidance for mid to high single digit growth.

A recent rally in the share price had returned the stock to its best level for two months, but it remained well below its 52-week highs.

At the turn of the year, on 3 January, analysts at Deutshe Bank cut their target price for the shares from 4,500p to 3,700p, blaming lower medium and longer-term profit estimates for the company.

However, the company's fundamental growth drivers remained "intact", they said.

Those reductions to its estimates "mostly reflect further (diesel) share declines post 2025, as well as a medium- and long term accelerated pick up in powertrain electrification", the German broker said.

In the near-term meanwhile, a further slowdown in auto production volumes was anticipated in 2019.

"Despite a flurry of headlines around diesel declines and softness in automotive markets, we note that the fundamental growth drivers remain intact and the company is on track to deliver against its FY and mid-term guidance."

Top Director Buys

Obtala Limited (OBT)
Director name: Dolan,Paul Tiernan
Amount purchased: 30,000,000 @ 6.50p
Value: £1,949,999.93

Johnson Matthey (JMAT)
Director name: Thomas,Patrick W.
Amount purchased: 4,257 @ 3,038.21p
Value: £129,336.60

Aberdeen Diversified Income And Growth Trust (ADIG)
Director name: Grover,Jim
Amount purchased: 100,000 @ 115.00p
Value: £115,000.00

Martin Currie Asia Unconstrained Trust (MCP)
Director name: Cleland,Craig
Amount purchased: 7,500 @ 372.66p
Value: £27,949.50

Regency Mines (RGM)
Director name: Bell,Andrew
Amount purchased: 7,000,000 @ 0.38p
Value: £26,299.00

U And I Group (UAI)
Director name: Upton,Richard
Amount purchased: 11,720 @ 205.00p
Value: £24,026.00

Volution Group (wi) (FAN)
Director name: Reading,Anthony J
Amount purchased: 5,000 @ 144.96p
Value: £7,248.00

Henry Boot (BOOT)
Director name: Jennings,Gerald
Amount purchased: 2,000 @ 259.00p
Value: £5,180.00

Jupiter Emerging & Frontier Income Trust Red (JEFI)
Director name: Moakes,Nicholas
Amount purchased: 5,172 @ 96.66p
Value: £4,999.26

Applied Graphene Materials (AGM)
Director name: Blain,David
Amount purchased: 17,800 @ 28.00p
Value: £4,984.00

Rotork (ROR)
Director name: Davis,Jonathan
Amount purchased: 526 @ 273.06p
Value: £1,436.30

Scottish Mortgage Inv Trust (SMT)
Director name: Subacchi ,Paola
Amount purchased: 102 @ 488.50p
Value: £498.27

Rio Tinto (RIO)
Director name: Jacques,Jean-Sébastien
Amount purchased: 10 @ 3,890.12p
Value: £389.01

Rio Tinto (RIO)
Director name: Jacques,Jean-Sébastien
Amount purchased: 10 @ 3,890.12p
Value: £375.00

Baillie Gifford Shin Nippon (BGS)
Director name: Donaldson,Michael Neil
Amount purchased: 71 @ 174.50p
Value: £123.90

Rio Tinto (RIO)
Director name: Jacques,Jean-Sébastien
Amount purchased: 10 @ n/a
Value: n/a

Top Director Sells

Obtala Limited (OBT)
Director name: Pelham,Miles C
Amount sold: 30,000,000 @ 6.50p
Value: £1,949,999.93

Bellway (BWY)
Director name: Honeyman,Jason
Amount sold: 6,281 @ 2,932.00p
Value: £184,158.92

Numis Corporation (NUM)
Director name: Holloway,Andrew Mark
Amount sold: 4,861 @ 240.50p
Value: £11,690.70