Market peg: Hills Holdings experienced large-scale buying. Photo: Louie Douvis
SOME new corporate faces appeared on the buying side of directors' trades this week, while mining stocks dominated the disposals list.
The scorecard registered $31 million to $51 million in favour of sellers and once again a couple of directors took a big hand in proceedings; billionaire Hans Mende at Whitehaven Coal and concrete vendor Raymond Barro at Adelaide Brighton.
Hills Holdings made a rare appearance thanks to chairman Jennifer Hill-Ling's large-scale buying at prices not seen for at least 15 years.
Hills - whose products range from ladders and clothes lines to hospital equipment - experienced a weaker second half than forecast, reported a 37 per cent earnings drop and booked a $100 million asset and goodwill write-off.
In 2007, Hills' scrip sold above $6.50 but Mrs Hill-Ling - whose father was chairman and managing director for 40 years - has spent more than $900,000 on the shares at about $1.20 apiece.
At $1.12 a share, the $1 billion-a-year sales group is selling at about 11 times 2011 earnings - 7 times 2010 earnings - with a dividend yield of about 9 per cent.
Elsewhere, two directors of employment concern Chandler Macleod, another friendless stock, picked up useful quantities.
John "Jack" Cowin, the fast-food- chain man who joined the Chandler board earlier this year, bought 2 million shares at 34¢ - 43 per cent down on the year's high, while John Plummer also topped up his stake.
Meanwhile, Greg Hywood, Fairfax Media's managing director, opened his account with a $100,000 purchase.
He paid 84.5¢ a share; the group is trading at about 7 times underlying earnings.
On the selling side, Hans Mende's interests disposed of $36 million worth of Whitehaven Coal stock.
AMCI International GmbH, which he co-founded in 1986, sold the shares at $6 apiece.
The Mende interests retain $412 million of shares.
Fellow directors Allan Davies and Neil Chatfield were also sellers.
Michael Donaldson and Robert Watkins, directors of gold counter Beadell Resources, collected about $400,000 each and explained they'd sold to provide funds for "book publishing expenses" and for "personal residence construction expenses", respectively.
Elsewhere, Terry Smart, the JB Hi-Fi chief, did some useful option exercising and selling.
He exercised options at $11 a share, costing nearly $1.2 million, and sold stock at $14.85, collecting $5.2 million. He retains more than $19 million of stock as well as options.
There was multiple-director buying in Probiotec, Sims Metal, Leighton and Circadian.
The reporter owns ABC scrip.
