7 Stocks Creating New 52-Week Highs That Are Worth A Closer Look

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 |  Includes: CIE, HD, NWS, PLL, RYN, SE, STX
by: Kinetic Investments

Buying stocks simply because they're making new 52-week highs isn't a strategy I can stand behind, but those stocks are always worth taking a quick look at (if nothing more), as there often is a good reason for them forging those new highs and something is clearly going right for them (at least for the short-term).

It is worth noting that it has been shown, statistically, that you are better off buying equities at a new highs than you would be if you were buying them at fresh lows.

1. Rayonier Inc. (NYSE:RYN)

Rayonier describes itself as, among other things, a company that plans to increase its timberland holdings while upgrading the quality by evaluating every acre, divesting non-strategic timberlands and re-investing in strategic timberlands. Its stated 2.4 million acres of working forests, located in 10 U.S. states and New Zealand, provide wood for use in a variety of markets, from pulp to lumber, paper, oriented strand board and other wood-based products. Another stated intent is to practice sustainable forestry methods in New Zealand.

The company currently has 121.83M shares out and its stock trades at about $46, giving it a market cap of $5.64B. The stock's three-month-rolling-average daily trading volume is 841k. Shares of Rayonier are trading about 32% above their 52-week low of $34.68. Institutional ownership stands at about 78% and, as of 12/30/11, the total short interest was 3.63M shares. Its levered free cash flow is $60.92M and it's a dividend payer.

RYN 1Click to enlarge

2. The Home Depot, Inc. (NYSE:HD)

Home Depot is described as a home improvement retailer whose stores sells an assortment of building materials, home improvement and lawn and garden products and provides a number of services. Its stores boast am average of approximately 105,000 square feet of enclosed space, with approximately 24,000 additional square feet of outside garden area.

The company currently has 1.54B shares out and its stock trades at about $43.75, giving it a market cap of $67.43B. The stock's three-month-rolling-average daily trading volume is 10.24M. Shares of Home Depot are trading about 55.5% above their 52-week low of $28.13. Institutional ownership stands at about 73% and, as of 12/30/11, the total short interest was 24.75M shares. Its levered free cash flow is $4.95B and it's a dividend payer.

HD 1Click to enlarge

3. Seagate Technology plc (NASDAQ:STX)

Seagate is described as a company that designs, manufactures, markets and sells hard disk drives. It produces a range of disk drive products addressing enterprise applications, where its products are designed for enterprise servers, mainframes and workstations; client compute applications, where its products are designed for desktop and notebook computers, and client non-compute applications, where its products are designed for a range of end user devices, such as digital video recorders, personal data backup systems, portable external storage systems and digital media systems.

The company currently has 419.87M shares out and its stock trades at about $19.50, giving it a market cap of $8.25B. The stock's three-month-rolling-average daily trading volume is 9.11M. Shares of Seagate are trading about 115% above their 52-week low of $9.05. Institutional ownership stands at about 72% and, as of 12/30/11, the total short interest was 8.92M shares. Its levered free cash flow is $376.50M and it's a dividend payer.

STX 1Click to enlarge

4. News Corporation (NASDAQ:NWS)

News Corp. Is described as a diversified global media company that operates in six segments: Cable network programming, filmed entertainment, television, direct broadcast satellite television, publishing and "other."

The company currently has 2.49B shares out and its stock trades at about $19, giving it a market cap of $48.08B. The stock's three-month-rolling-average daily trading volume is 3M. Shares of News Corp. are trading about 37.5% above their 52-week low of $13.83. Institutional ownership stands at about 65% and, as of 12/30/11, the total short interest was 3.6M shares. Its levered free cash flow is $3.70B and it's a dividend payer.

NWS 1Click to enlarge

5. Spectra Energy Corp. (NYSE:SE)

Spectra describes itself as a Fortune 500 company that is one of North America's premier natural gas infrastructure companies, serving three key links in the natural gas value chain: gathering and processing, transmission and storage, and distribution.

The company currently has 650.35M shares out and its stock trades at about $31.50, giving it a market cap of $20.44B. The stock's three-month-rolling-average daily trading volume is 3.12M. Shares of Spectra are trading about 38% above their 52-week low of $22.80. Institutional ownership stands at about 66% and, as of 12/30/11, the total short interest was 12.44M shares. Its levered free cash flow is -$397.38M and it's a dividend payer.

SE 1Click to enlarge

6. Pall Corporation (NYSE:PLL)

Pall is a company that describes itself as being scientists and engineers at heart that thrive on helping customers protect people, the environment and our natural resources. The company claims to be referred to as "the original clean technology company" because its products provide clear environmental benefits.

The company currently has 115.41M shares out and its stock trades at about $60.50, giving it a market cap of $6.99B. The stock's three-month-rolling-average daily trading volume is 1.04M. Shares of Pall are trading about 52% above their 52-week low of $39.81. Institutional ownership stands at about 92% and, as of 12/30/11, the total short interest was 2.74M shares. Its levered free cash flow is $227.96M and it's a dividend payer.

PLL 1Click to enlarge

7. Cobalt International Energy, Inc. (NYSE:CIE)

Cobalt Intl. Energy is a company with a stated objective to create distinctive value for our investors by exploring for oil in the largest hydrocarbon rich plays in the deep offshore waters of the U.S. Gulf of Mexico and West Africa, with an emphasis on sub-salt and pre-salt exploration, development and production. Its stated ideas are to focus on opportunities that play to its strengths, provide innovation that delivers value, and operate in a safe, ethical and environmentally responsible manner.

The company currently has 386.91M shares out and its stock trades at about $20, giving it a market cap of $7.76B. The stock's three-month-rolling-average daily trading volume is 1.88M. Shares of Cobalt Intl. are trading about 217% above their 52-week low of $6.30. Institutional ownership stands at about 98% and, as of 12/30/11, the total short interest was 7.87M shares. Its levered free cash flow is -$162.83M. No dividends to speak of here.

CIE 1Click to enlarge

All of the above names are striking new highs and have surged for different reasons. I strongly encourage that you do some more digging and read all recent corporate filings before making any investment decisions.

Disclosure: I am long HS, STX, RYN.