Although US Tech stocks have taken a beating recently, many value stocks have been notching all-time highs with vaccines increasingly pushed out and Covid-19 under control again.
This time around, stock prices on SGX have not been left behind and have increased in tandem with the global counterparts.
Companies that are trading at their 52 weeks high are a sign of bullishness on the counter. The main reason is that winners keep winning and their streak can continue for a long time.
We have uncovered 3 stocks that are trading at its 52 weeks high on SGX that you should take note of.
#1 Del Monte Pacific Limited
Del Monte Pacific is a global branded food and beverage company that caters to today’s consumer needs for premium quality, healthy products. The Group innovates, produces, markets, and distributes its products worldwide.
As of its latest quarterly results, Del Monte’s revenue increased by 11.7% to USD 1.67 billion. Its net profit increased by an amazing 77.7% to USD 48.8 million.
The group’s operating cash flow came in at USD 208.7 million which brings it cash level to USD 33.3 million.
Del Monte hit its 52 weeks high price at $0.43 on 3rd June closing. It is an incredible 119.4% increase YTD for the company. As food is a necessity and the rush for securing supplies during lockdowns showcase the importance of the company and thus the confidence in the stock prices.
Del Monte last closed at $0.43, which valued the company at a P/E ratio of 29.4x. The company has not announced any dividends.
#2 Boustead Singapore Limited
Boustead Singapore is a progressive global Infrastructure-Related Engineering and Technology Group listed on the SGX Mainboard.
Focusing on the niche engineering and development of key infrastructure to support sustainable socio-economic growth in global markets, our strong suite of engineering services under our Energy Engineering Division and Real Estate Division centres on energy infrastructure and smart eco-sustainable business parks and industrial developments.
As of its latest annual report, Mewah’s revenue increased by 54.3% to $ 726.6 million. Its net profit dipped slightly by 10.4% to $ 44.5 million.
Free cash flow came in at $124.4 million. The cash balance of the company, as a result, increased to a healthy level of $281.7 million.
Boustead hit its 52 weeks high price at $1.23 on 3rd June closing. It is a praise-worthy 39.8% increase YTD for the company.
With the world transitioning to eco-friendly infrastructures and focusing on saving the environment, the technology of eco-friendly engineering has given Boustead an edge thus the recognition on the stock price.
Boustead last closed at $1.23, which valued the company at a P/E ratio of 14.7x and dividend yield of 3.3%.
#3 Olam Group Ltd
Olam is a leading food and agri-business operating across the value chain in more than 60 countries, supplying food, ingredients, feed, and fibre to more than 17,300 customers worldwide.
As of its latest annual report, Olam’s revenue increased by 8.6% to $35.8 billion. Its net profit dropped by 35.7% to $178.2 million. This is likely an effect due to COVID; which has driven supply chain costs up.
Free cash flow came in negative but the cash balance is at an extremely healthy level of $2.85 billion.
Olam hit its 52 weeks high price at $1.82 on 3rd June closing. Its stock price experienced a 17.4% increase YTD for the company.
Olam is one of the biggest food producers and traders in the world is well positioned for supplying the necessities to consumers in the world. It has been evident that food is a commodity that will be required by everyone thus the faith in the stock and the company.
Olam last closed at $1.82, which valued the company at a P/E ratio of 30.5x and dividend yield of 4.2%.
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