The Ansell Limited (ASX: ANN) share price is one of a number S&P/ASX 200 (INDEXASX: XJO) shares to smash its previous record highs this week.
At the time of writing, the manufacturing group's shares are up 1.07% at $31.13 per share. This comes after the Ansell share price hit a new record high of $31.14 earlier this afternoon.
But while the ASX 200 is charging higher today, is there value in buying Ansell shares right now?
Why the Ansell share price is at a new record high
Ansell is an Aussie manufacturer that specialises in protective industrial and medical gloves. The company currently boasts an impressive $4.06 billion market capitalisation.
Perhaps even more impressive is the Ansell share price performance over the last 12 months. The manufacturer's shares are up 36.94% to be outpacing even the ASX 200.
Today's record high comes on the back of slow and steady capital gains since 2016. Strong earnings and a major transformation program have been key to the company's recent success in the markets.
The group's shares surged higher in August last year after lifting its FY20 earnings per share (EPS) growth forecast. Ansell delivered EPS of 82.6 cents in FY19 but forecast an impressive 112–122 cents for this financial year.
Is there still value in buying Ansell in 2020?
Despite a tough macro environment which has hit its sales growth figures, the Ansell share price charged higher thanks to its cost cutting and transformation program.
Further clarity around Brexit and the potential for more certainty around US trade in an election year could prove to be a blessing for Ansell and its shareholders.
CEO Magnus Nicolin mentioned these factors in explaining FY19's "disappointing" sales growth with a 0.4% fall in its core industrial sales.
However, if the group can repeat last year's strong half-year results in February 2020, I'd be keeping Ansell shares on this year's watchlist.
