3 More FTSE Shares Hitting New Highs This Month
LONDON -- The FTSE 100 (INDEX: ^FTSE) doesn't look like it's going to break its 52-week high of 5,989 points any time soon, but at least it's not falling too far away from it, hovering at 5,730 points at the time of writing -- just 13 points down on the day.
But there are plenty of companies hitting new highs this month and reaching valuations not seen since before the financial crisis. Here are three from the FTSE indexes that are having a great time right now.
Aggreko (ISE: AGK.L)
Aggreko came very close to its 52-week high this week after soaring 22% since the middle of July. The shares reached a high of 2,322 pence yesterday, within a shade of this year's high point of 2,347 pence, which it briefly attained in March.
Shares in the equipment hire specialist are currently back a little at 2,313 pence, which puts them on a forward price-to-earnings ratio of more than 20 based on full-year forecasts, and that doesn't really make them look like a screaming bargain anymore. But they clearly were earlier in the year.
It's great stuff, hindsight.
Domino (ISE: DOM.L)
Domino's Pizza Group has had a great month, hitting a new high of 556 pence on Aug. 20, and it has been hovering round that level ever since, coming close again today at 549 pence. The shares have gained 37% since their low point in December, with two years of earnings and dividend growth currently forecast.
But with dividend yields at only about 3% this year and next, there are almost certainly better growth and dividend prospects out there than Domino's shares at current levels. Still, it's been a good run for existing shareholders.
Filtrona (ISE: FLTR.L)
Filtrona shares have stormed up this month, hitting a high of 540.5 pence on Aug. 17. They're still near that level, at 535 pence today. The company, which makes plastics, fiber, and foam products, is now up 71% from its year low of 313 pence set last October. And it's up a massive fivefold since mid-2009.
This has been driven by profits rising strongly since the year ending December 2009 and similarly strong dividend growth, and there's a strong year forecast again for this year. But with the price appreciation we've already seen, and forecast yields of 2.4% for this year and 2.8% for next, it's looks like it's already in the price.
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