KKR & Co, Inc. (NYSE: KKR) has disclosed today its plan to invest in CMC Machinery to drive innovation in sustainable packaging. CMC Machinery is famous for its innovative e-commerce 3D on-demand packaging. CMC Machinery aimed to reduce the consumption of packaging materials by using advanced technologies.
CMC Machinery has its headquarter in Città di Castello and is run by the sons of Giuseppe Ponti. Francesco will work as CEO and Lorenzo Ponti will work as COO after the investment of KKR.
As the e-commerce sector is continuously evolving, people are preferring to buy products online which led to an increase in the growth of the packaging market. The ongoing pandemic has increased the trends of online shopping.
To fulfill the demand of customers, CMC Machinery is the best option as it is providing sustainability benefits by making on-demand custom made boxes that fit the product size. This also reduced the use of void filler and raw material.
CMC Machinery President and Founder Giuseppe Ponti said that the company is excited to welcome KKR to its board of directors. Both companies have the same vision of enhancing performance in the packaging market and e-commerce.
This investment of KKR is the fourth in Europe. Earlier, KKR Global Impact Fund has an investment in Viridor, The Citation Group, and MasterD. KKR Investment Fund is aiming to identify opportunities and invest in firms that have potential.
KKR & Co. Inc. (KKR) has seen some recent movement in the stock market and its stock is trading at $37.72. Investors are starting to take interest in KKR as the stock traded as high as $38.33 and as low as $37.63 in the prior trading day.
KKR & Co. Inc. (KKR) average trading volume is 3.18M. However, in the prior trading day KKR & Co. Inc. (KKR) traded 812,789 shares. The First support level on KKR is $37.18. KKR 50-day moving average is $36.21 and the KKR 200-day moving average is $33.25.
KKR & Co. Inc. (KKR) most recent performance has been specified by the recent movement in KKR stock. KKR has performed 1.13% over the past month, KKR has performed 4.11% over the past 90 days and KKR has shown 25.87% over the past 365 days. KKR & Co. Inc. (KKR) has a 52 week range of $15.55 to $39.80. KKR & Co. Inc. (KKR) is trading 143.15% from its 52 weeks low and -5.00% from its 52 week high. KKR & Co. Inc. (KKR) is indicating a 2.61% short float indicating the quantity short in the float.
KKR has 562.43M shares outstanding and 497.14M shares in the float. KKR & Co. Inc. (KKR) at this time has a market cap of $31.42B and an income of 981.40M. The EPS next quarter for KKR is 0.41 and the forecasted EPS next year is 26.02%. The market cap of KKR & Co. Inc. (KKR) at $31.42B signifies how many Investors own shares of KKR and is calculated off the last price ($37.72) of KKR and the quantity of shares outstanding (562.43M) with KKR & Co. Inc. (KKR).
KKR & Co. Inc. (KKR) has total cash (mrq) of 4.64B, total cash per share (mrq) of 8.15, total debt of KKR rests at 31.99B and total debt/equity (mrq) is 93.97. . KKR & Co. Inc. (KKR) operating cash flow (ttm) is -6.32B.
KKR is trading 3.17% above (bullish) its SMA20, 5.63% above (bullish) its SMA50 and 21.17% above (bullish) its SMA200.