The Boral Limited (ASX: BLD) share price is having a good run in October, potentially spurred on by the company's continued divestment strategy.
Since its first close of this month, Boral's stock has gained 5.5%. At the time of writing, the Boral share price is $6.31, 0.64% higher than its previous closing price.
Let's take a look at the news that might have helped to boost the construction supply company's shares lately.
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The month so far for Boral
The first news from Boral this month hit the ASX on 4 October.
Then, Boral announced it had completed the divestment of its North American building products business and its Australian timber business. The sales saw the company's bank balance bolstered by US$2.15 billion and $64.5 million respectively.
Boral plans to use the funds to pay back some of its loans and help it return up to $3 billion to shareholders.
Despite the release being marked as non-price sensitive, the Boral share price finished the day 4.1% higher than it had the last.
The next time the market heard from Boral was on 7 October when it announced it had sold its half of the North American Meridian Brick business. This time, Boral's wallet was weighed down by an extra US$125 million.
The announcement of the sale was once again marked non-price sensitive. However, this time, the Boral share price didn't move far.
It gained 0.5% over the course of the day. Since then, it's been in and out of the red, ultimately gaining another 0.5%.
Boral share price snapshot
It has been a big year so far for Boral. After a messy battle, it was taken over by Seven Group Holdings Ltd (ASX: SVW) in July. After the takeover, the company's now-former chair was quickly ousted and replaced with Seven's CEO and managing director Ryan Stokes.
Despite the drama, the Boral share price has been flourishing. It has gained 26% since the start of 2021 and 29% since this time last year.
