Industrials and Financials Lead the 52-Week Highs List Wednesday

Wednesday, March 31, 2021 2:19 PM | Nick Dey

During trading Wednesday, 80 stocks traded to a 52-week high, while 1 stocks bottomed out at new 52-week lows. The S&P 500 is up 0.74% so far today while the Dow is up 0.19%, the Nasdaq is up 1.72%, and the Russell 2000 is up 1.46%.

Stocks are rallying Wednesday ahead of President Biden’s infrastructure stimulus announcement which will be paid for by raising the corporate tax rate to 28% from 21%. Tech shares are leading the gains today as the S&P 500 hits a fresh high. Additionally, March ADP employment changed increased in six-months, adding 517,000 jobs.

Sector Highlights

Industrials stocks dominated our list of highs today with 17 out of the 80 total stocks that reached their high coming from the Industrials sector. The Industrials sector is underperforming the market, increasing 0.2% so far on the day. Over the last month the Industrials sector has outperformed the market, increasing 9.18% while the S&P increased 3.87%.

Acuity Brands (AYI) is on highs after beating EPS estimates this morning, showing profits of $2.12 per share on estimates for $1.74. Meanwhile, IDEX Corp (IEX) was initiated at Morgan Stanley as Overweight with a price target of $230. Lastly, Textron (TXT) was awarded a $290 million Army contract and was upgraded to Overweight from Equal Weight at Barclays with a price target of $68.

Industrials: ACM, AGX, AYI, BBCP, BWXT, FIX, GVA, HEES, IEX, J, KBR, KSU, ODFL, PNR, SAIA, TXT, URI,

Financial Services had the second largest presence on our 52-week highs, with 13 out of 80 highs coming from the Financial Services sector. The Financial Services sector is underperforming the market today, decreasing 0.39% so far on the day. Over the last month the Financial Services sector has outperformed the market, increasing 6.57% while the S&P increased 3.87%.

Ares Management is on highs after agreeing to acquire Landmark Partners, LLC. Meanwhile, options investors are bullish on BGC Partners (BGCP) as Apr 5 calls see 19,350 contracts trading on open interest of 140, with more than 1,600 of those contracts being traded in a single transaction.

Financial Services: ACGL, ARES, BGCP, LOB, MAIN, MMC, MTG, NAVI, NFBK, RJF, SASR, SLM, VIRT,

The Lists

The following stocks traded to 52-week highs: AA, ACGL, ACM, AGX, AMAT, ANGO, ARES, ARW, AYI, BBCP, BGCP, BWXT, CEQP, CLF, CNMD, CONN, DLTH, DLTR, DXC, EXP, FBHS, FIX, FLIR, FUL, GVA, HD, HEES, HMHC, HPQ, ICHR, IEX, INOV, INVH, J, KBR, KSU, LH, LOB, MAIN, MHK, MMC, MMSI, MTG, NAVI, NFBK, NRZ, NVMI, NWL, ODFL, OMP, PMT, PNR, RFP, RH, RJF, RUSHA, RVI, SAIA, SAM, SASR, SCVL, SKX, SLM, SPB, STLD, TDY, TMST, TRMB, TXN, TXT, UFPI, URI, USCR, VAR, VIRT, VMC, WBA, WSM, X, XRAY

No stocks traded to a 52-week low today.

The following ETFs traded to a 52-week high: BKF, CHN, EEB, GREK, HYG, IAI, IWC, IWF, JNK, KBE, KCE, KIE, KRE, MDY, OEF, PBW, PHO, QAI, QQQ, RSX, SMH, SPY, UWM, UYG, VTI, VWO, XLF, XLP, XLY

The following ETFs traded to a 52-week low: VXX

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