Why these 4 ASX shares just hit new 52-week highs

Although the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) didn’t start the week strongly, that didn’t stop a number of shares from jumping to new 52-week highs.

Four shares in particular stood out. Here’s what has driven them to these new heights:

The MaxiTRANS Industries Limited (ASX: MXI) share price hit a 52-week high of 76 cents yesterday. The leading supplier of road transport equipment has seen its shares gain a remarkable 45% year-to-date thanks largely to a solid first-half of FY 2017. Earnings per share rose 17% on the prior corresponding period to 3.3 cents. Based on this its shares are changing hands at just 11x annualised earnings. With management tipping a stronger second-half, I’m not overly surprised to see its shares rally.

The MMJ Phytotech Ltd (ASX: MMJ) share price hit a new 52-week high of 75 cents yesterday. Incredibly this means the pot stock has now risen an astonishing 240% year-to-date. Interest in the industry has grown strongly recently following the government’s plan to relax regulations around the use of medical marijuana. Fellow pot stock Zelda Therapeutics Ltd (ASX: ZLD) also reached a new high yesterday.

The WAM Capital Limited (ASX: WAM) share price hit an all-time high of $2.56 on Monday. Investors appear to be impressed by WAM Capital’s ability to consistently outperform the market. But perhaps the most attractive part of investing in WAM Capital is its growing fully franked dividend. At present its shares provide a trailing fully franked 5.8% dividend. WAM Capital’s shares go ex-dividend on April 13.

If you missed out on these gains don't worry. These three hot growth shares could be next in line to hit 52-week highs if you ask me.

Top 3 ASX Blue Chips To Buy In 2017

For many, blue chip stocks means stability, profitability and regular dividends, often full franked..

But knowing which blue chips to buy, and when, can often be fraught with danger.

The Motley Fool's in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool's Top 3 Blue Chip Stocks for 2017."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

If you're expecting to see the likes of Commonwealth Bank, Telstra and Wesfarmers shares on this list, you'll be sorely disappointed. Not only are their dividends growing at a snail's pace, their profits are under pressure too due to the increasing competitive environment.

The contrast to these "new breed" blue chips couldn't be greater... especially the very real prospect of significant share price gains, something that's looking less likely from the usual blue chip suspects.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand - and how quickly the share prices of these companies moves - we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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