Day: September 23, 2021

Why the Computershare (ASX:CPU) share price has a new 52-week high

share price soaring

The Computershare Ltd (ASX: CPU) has a new yearly-record.

At the time of writing, shares in the information technology (IT) company are trading for $17.74 – up a whopping 4.78%. Earlier today, shares reached an intraday and 12-month high of $17.945 per share. The S&P/ASX 200 Index (ASX: XJO), meanwhile, is down 0.39%.

While the company hasn’t made any market sensitive announcements in over a month, something is clearly exciting investors.

Let’s take a closer look.

One possible reason Computershare is rising

The rising Computershare share price has coincided with the announcement that its founder, Chris Morris, will leave the board come 11 November.

John Nendick, a senior financial executive who, according to the company, “is an expert in new business models, global financial, accounting and audit matters, transactions and technology and Technology, Media and Telecomm (TMT) trends globally,” will replace Morris on the board. He was appointed on 21 September and will seek a full term at the Computershare annual general meeting.

He was, until recently, the Deputy Global Leader of EY’s TMT business and served on EY’s Global Practice Group.

Computershare Chair, Simon Jones, said of Morris’ retiring

Chris was instrumental in taking Computershare from a local player to an international success story – his knowledge, long-term strategic vision and passion for the industry have underpinned Computershare’s evolution into a successful global public company.

Chris has previously managed a seamless transition from CEO to Executive Chairman, Non-Executive Chairman and Non-executive Director, and we will look forward to his ongoing involvement as a Computershare shareholder. We will recognise Chris’s immense contribution to Computershare at the AGM later this year.

Morris added

Little did I know all those years ago that the business I co-founded would go on to be the global success it is today. It’s been an exciting journey and I am really proud of what the team has achieved. It has been great being part of an Australian global success story.

The Company is in very strong and competent hands with an exciting outlook ahead of it and I have confidence it will go from strength to strength. I expect to remain a shareholder to see the benefits of growth strategies and investments come to fruition.

Computershare share price snapshot

Over the past 12 months, the Computershare share price has increased 46.73%. It’s outpaced the ASX 200 by about 21 percentage points. Year-to-date, Computershare’s value has appreciated 23.19%. The ASX 200 has only increased 10% in the same time.

Computershare has a market capitalisation of approximately $10.2 billion.

The post Why the Computershare (ASX:CPU) share price has a new 52-week high appeared first on The Motley Fool Australia.

Should you invest $1,000 in Computershare right now?

Before you consider Computershare, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Computershare wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

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Motley Fool contributor Marc Sidarous has no position in any of the stocks mentioned. 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.

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Bendigo Bank (ASX:BEN) share price slips despite recycling partnership

A woman peers through a bunch of recycled clothes on hangers and looks amazed.

The Bendigo and Adelaide Bank Ltd (ASX: BEN) share price is sliding today despite the bank’s announcement of a new partnership.

The bank has partnered with clothing recycler Upparel following a change to its employees’ uniforms.

At the time of writing, the Bendigo Bank share price is $9.31, 0.37% lower than its previous close.

Let’s take a closer look at today’s news from Australia’s fifth largest retail bank.

New partnership to up-cycle old uniforms

The Bendigo Bank share price is in the red despite the bank making another step towards better sustainability practices.

In the wake of the bank reaching carbon neutrality this year, it has partnered with Upparel to recycle old employee uniforms.

Upparel is a Melbourne-based initiative focused on reducing Australia’s textile waste. It up-cycles used clothing, linen, and shoes to create socks and children’s furniture.

Under the partnership, the bank’s employees’ now-outdated uniforms will be transformed into filling for furniture and other products.

Bendigo Bank consumer banking executive Richard Fennell said:

We have forecast that there may be up to 10 kilograms of used uniform textiles per employee in storerooms and cupboards nationwide, so it’s important to us that nothing is dumped or sent off-shore for processing and that this material is sustainably reused.

Employees can also put 10 kilograms of their personal clothing items towards the initiative.

Each kilogram of clothing recycled by Upparel saves between 3 kilograms and 4 kilograms of greenhouse gasses from being released into the atmosphere.

The bank has already committed to using only renewable energy by 2025 and reducing its total emissions to zero by 2030.

Bendigo Bank share price snapshot

This year so far hasn’t been great for the Bendigo Bank share price.

It has fallen 1.2% since the start of 2021. However, Bendigo Bank shares are 53% higher than this time last year.

The bank has a market capitalisation of around $5.2 billion.

The post Bendigo Bank (ASX:BEN) share price slips despite recycling partnership appeared first on The Motley Fool Australia.

Should you invest $1,000 in Bendigo Bank right now?

Before you consider Bendigo Bank, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Bendigo Bank wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Bendigo and Adelaide Bank Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Vita (ASX:VTG) share price sinks on asset sale and special dividend

man looks at phone while disappointed

The Vita Group Limited (ASX: VTG) share price is sliding today as the company plans to sell assets, giving more than half the profits back to its shareholders.

Vita is selling its retail information and communication technology segment to Telstra Corporation Ltd (ASX: TLS). The sale is expected to bring in a cool $110 million.

At the time of writing, the Vita share price is trading at 88 cents, 4.86% lower than its previous close.

Let’s take a closer look at today’s news from Vita.

Vita’s asset sale

The Vita share price is sinking on news it plans to sell its Telstra-branded stores and Sprout business for $110 million cash.

The cash consideration is still subject to a net working capital and net-debt adjustment. That will be finalised late this month.

Currently, Vita operates 104 Telstra-branded stores. The deal under which Vita operates the shops took a blow in February when Telstra announced it would fully own all Telstra stores by 2025.

It appears that Vita has run out in front, selling the portfolio, alongside its technological accessory brand, Sprout, to Telstra.

Of the $110 million to be received from the sale, Vita will keep $35 million. The remaining sale value – between $65 million and $75 million – is expected to be handed back to shareholders in the form of a special dividend.

The fully franked special dividend will be worth 39 cents to 45 cents per share and paid in 2 payments.

Vita advised that the $35 million kept in the company’s coffers would go towards growing its Artisan Aesthetic Clinics business.

The sale is subject to shareholder approval.

Additionally, Vita has confirmed that none of its employees will lose their jobs due to the sale. They will continue to be employed by the Vita People entity, which will be owned by Telstra.

Vita share price snapshot

Today’s dip is just the latest fall for the Vita share price, which has sunk 18.9% since the start of 2021. Vita shares are also 18.2% lower than this time last year.

The post Vita (ASX:VTG) share price sinks on asset sale and special dividend appeared first on The Motley Fool Australia.

Should you invest $1,000 in Vita Group right now?

Before you consider Vita Group, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Vita Group wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Pepinnini (ASX:PNN) share price jumps 58% on new agreement

Two miners dressed in hard hats and high vis gear standing at an outdoor mining site discussing a mineral find with one holding a rock and the other looking at at his ipad

The Pepinnini Minerals Ltd (ASX: PNN) share price has jumped out of the starting blocks on Friday and is now trading at 61 cents. This is 49% higher than its closing price yesterday.

In earlier trading, it hit an intraday high of 65 cents, up 58% and just 3 cents below its 52-week high.

The impressive surge in the Pepinnini share price has been spurred by the announcement of a new agreement today.

Here’s what’s happening.

What did Pepinnini Minerals announce?

The company advised that it has signed an agreement in Argentina with Litho Minera SA. This is a subsidiary of one of the world’s leading lithium manufacturers, Gangfeng Lithium (HKG: 1772).

Pepinnini entered into the agreement via its own subsidiary, Pepinnini SA for a pipeline to carry lithium brine from Ganfeng’s Mariana Project in Argentina.

This pipeline will basically run from Gangfeng’s project to Pepinnini’s Santa Ines project to the northwest.

It will be a “more environmentally friendly option than road for brine transport”, according to the company.

The pair will also carry out an induced polarisation (IP) geophysical survey on 11 kilometres of Santa Ines. Both parties will cover the survey’s costs.

Pepinnini said the survey will be a useful interpretive tool for the pair. It will begin in October and run for 12 days.

According to a statement released by Pepinnini:

For Pepinnini it will be an exploration tool for copper-gold mineralisation targets for drill testing while it will give Ganfeng reassurance that the pipeline trace will not require relocation in the event of a mineral discovery.

Investors have bought on the news and are continuing to drive the Pepennini share price higher this afternoon.

Pepinnini share price snapshot

It’s been a rocky road for the Pepinnini share price, although it has climbed 74% since 1 January.

Over the past month alone, Pepinnini shares have gained 96% and show no sign of slowing down today.

Study results out of its lithium brine project in Chile have propelled the Pepinnini share price higher this week, too.

The share price is up 408% over 12 months. This compares to about 25% for the S&P/ASX 200 Index (ASX: XJO).

The post The Pepinnini (ASX:PNN) share price jumps 58% on new agreement appeared first on The Motley Fool Australia.

Should you invest $1,000 in Pepinnini Minerals right now?

Before you consider Pepinnini Minerals, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Pepinnini Minerals wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

The author Zach Bristow has no positions in any of the stocks mentioned. 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.

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