The U.S markets have enjoyed a strong bull run over the last two weeks following receding political uncertainty, impressive earnings reports, and bullish economic data. In the midst of these gains, several stocks hit their 52-week highs on Monday, including Aecom (NYSE:ACM), Burlington Stores Inc (NYSE:BURL), Chimera Investment Corporation (NYSE:CIM), Insperity Inc (NYSE:NSP), Leggett & Platt, Inc. (NYSE:LEG), Lennox International Inc. (NYSE:LII), MaxLinear, Inc. (NYSE:MXL), Owens Corning (NYSE:OC), Post Holdings Inc (NYSE:POST), and Tata Motors Limited (ADR) (NYSE:TTM).
Reaching a 52-week high is an important milestone that signifies strong growth potential, investor sentiment, and market trends, as stocks push through key technical barriers and resistance. Let’s check in on the latest trading activity and sentiment surrounding these stocks.
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Aecom (NYSE:ACM) hit its 52-week high of $34.78 on Monday after the company was selected for the construction of a $2.6 billion stadium for the NFL’s Los Angeles Rams. Apart from Aecom, Turner Construction has also been picked from the list of companies that bid for the project. Hollywood Park Land Co said in a statement that they have hired the “best teams” for the construction of the stadium after a competitive review of the applications. A total of 19 hedge funds in our database were bullish on Aecom (NYSE:ACM) at the end of the first quarter.
Burlington Stores Inc (NYSE:BURL)’s stock hit its 52-week high of $73.55 yesterday after the company announced an increase to its second quarter earnings guidance. Shares have ticked slightly higher this morning, touching $74.35 and are up by 71% year-to-date. 37 hedge funds in our system were long Burlington Stores Inc (NYSE:BURL) as of the end of the first quarter.
Shares of Chimera Investment Corporation (NYSE:CIM) hit a 52-week high of $16.12 on Monday and have pushed to $16.14 this morning. The company recently announced that will pay a $0.48 dividend to its shareholders on July 29.
Insperity Inc (NYSE:NSP) flew past its one-year record on Monday, reaching $79.73. The company is slated to release its second quarter earnings before the market open on August 1. Shares vaulted up to $79.76 this morning before falling back.
Leggett & Platt, Inc. (NYSE:LEG) hit its 52-week high of $53.18 yesterday, and has moved as high as $53.36 today. Cliff Asness‘ AQR Capital Management owned 1.31 million shares of the company on March 31.
Move on to the next page to read the details concerning five other stocks that hit their 52-week highs yesterday.