Shares in the global pallet supply manager continue their 2021 gains.
The post Brambles (ASX:BXB) sets new 52-week high today appeared first on The Motley Fool Australia. –
The Brambles (ASX: BXB) share price has set a new 52-week high today, extending gains observed across the year-to-date.
At the time of writing, the Brambles share price is 1.01% in the green at $11.53, after posting an intraday high of $11.60.
Let’s discuss what the global pallet solutions expert has been up to lately.
Recent Brambles activity
Back in February, Brambles announced it had merged its keg rental business segment Kegstar with US beer keg provider MicroStar.
More recently, the Brambles share price has extended this year’s moves into the green after progressions to the company’s 5-year sustainability program, announced in October 2020.
The program aims to prioritise regenerative supply chains, with the penultimate goal of decarbonising the company’s purveyors, customers and adjacent markets, according to the initial report.
Building on this, on 24 June, the company reported it had brought its net carbon dioxide emissions to zero. According to Bloomberg LP, the company was “pleased to announce it has become carbon neutral in all operations”.
Brambles CEO Graham Chipchase stated in the June 24 National Post the “could not be prouder of this milestone”:
But the work does not stop here. The real challenge lies ahead of us in advocating for our customers and suppliers to become carbon netural in their operations too. We will extend and build new partnerships with them to leverage the circular economy with the best available low and zero-carbon products and services to decarbonise our entire supply chain.
These announcements signify a step towards the company’s 2025 sustainability targets which include the decarbonisation of Brambles’ entire supply chain.
Brambles’ shares have jumped 4.16% since this event on 24 June.
Brambles share price trends
Today’s gains build on an extended run into the green for the company. Since January 1, the company’s shares have posted a return of 8.73%, climbing 5% over the previous month.
Brambles’ share price has finished in the green by ~3% over the previous 5 trading sessions and posted a 12-month return of 6.32%.
Brambles lags the longer-term returns of the S&P/ASX 200 Index (ASX: XJO)’s which has posted a year-to-date and 12-month return of 11% and 20.76%, respectively.
The share price has a 52-week trading range of $9.54 – $11.60, a 22% spread.
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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.