Insider: directors buy two stocks at ‘attractive entry point’

War-impacted Genuit Group (LSE:GEN) shares have received £50,000 of boardroom support after the UK's largest provider of water and climate products traded at its lowest level in over two years.

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The share purchases by chief executive Joe Vorih and finance boss Tim Pullen took place on Thursday at prices near 281p, which compares with 381p prior to the Middle East conflict and 334p after a brief rebound on the back of annual results earlier this month.

Broker Peel Hunt noted after the results on 10 March that Genuit’s forward valuation multiple was at a discount of more than 20% to the former Polypipe group’s long-term average.

Based on its central assumption that the Iran war will not be long lasting, the City firm said that shares were at an attractive entry point as it highlighted a price target of 400p.

Counterparts at Berenberg disclosed a figure of 500p in the aftermath of the results, while Deutsche Bank opted for 545p after it said Genuit was well placed to outperform its markets and to drive medium-term margin expansion.

It said the positive outlook was supported by the company's exposure to sustainability trends, as well as the potential for self-help and merger and acquisition activity.

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Genuit’s results showed a 4.5% rise in underlying profits to £82.9 million for 2025, which was better than the City consensus of £80 million after stronger-than-expected margin progress in the second half of the year.

The growth came despite cost headwinds from National Insurance and National Living Wage increases, and the impact of a prolonged period of Budget uncertainty on the new housebuilding and repair, maintenance and improvement (RMI) markets.

The group said subdued conditions continued into the current quarter, with prolonged wet weather an additional setback for construction site activity in January and February. That’s been followed by the energy price shock, which has the potential to derail building industry and residential demand.

Regardless of macroeconomic conditions, the group said this month that it would continue to target market outperformance by focusing on higher growth segments such as ventilation and blue-green roof systems designed for sustainable urban drainage.

Vorih, who has been chief executive since February 2022, said: “With a resilient portfolio, cash generative model and a strong balance sheet, we are well positioned to continue outperforming through the cycle.”

He announced a dividend of 8.7p a share, which is due for payment on 3 June and has lifted the total for the year by 3.2% to 12.9p. The company trades with a 4% dividend yield.

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Underlying earnings per share rose 5.7% to 26p in 2025 but Peel Hunt flagged the potential for a recovery to more than 45p in the event that trading conditions improve.

It said: “Genuit is operating with 25% spare capacity, and any recovery in volumes would result in significant drop-through to profits.”

Property slump

Post-results selling of Harworth Group (LSE:HWG) shares has been countered by chair Alastair Lyons after he staked £50,000 on the land regeneration firm’s data centre-inspired growth potential.

Lyons, who has been in the role since 2018, made his purchase with the FTSE 250-listed shares at their lowest level since summer 2024 and a 30% discount to net development value (NDV).

His dealings at 155.4p followed a 10% fall for shares after Tuesday’s in-line annual results were overshadowed by broader property sector worries about the outlook for higher interest rates.

Lyons told investors it had been a challenging period, but that Harworth had made sustained progress with a strategic pivot as it accelerates its industrial and logistics (I&L) landbank.

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The company, which has a portfolio of 15,000 acres of strategic land over 100 sites in the North of England and Midlands, wants to increase its I&L weighting versus residential to 85% by 2029. This compares with 70% at the end of 2025 and 57% at the end of 2020.

And despite market volatility, it reiterated its ambition to deliver attractive through-the-cycle returns and achieve its £1 billion EPRA NDV target by between 2028 and 2029.

Chief executive Lynda Shillaw said: “Harworth is at the intersection of some of the UK’s most powerful trends, including data, advanced technologies, reindustrialisation and clean growth.”

Harworth has delivered cumulative total accounting returns of 44.5% over the last five financial years, although the 2025 outturn slowed to 1.7%. EPRA NDV per share rose 0.9% to 224.4p.

Weakness in the residential market, which completed 1,837 plot sales in the year, reduced overall returns relative to previous years.

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Peel Hunt said the divergence in performance vindicated Harworth’s increased focus on I&L, including the emerging market opportunities such as data centres.

The broker has retained a Buy recommendation and 200p target price after noting on Tuesday that shares were at a 27% discount to its new 2026 NDV forecast of 234.8p a share.