6 ASX All Ords shares smashing new 52-week highs today

A mixed bag of ASX All Ords shares have hit new price records today.

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Key points

  • The ASX All Ords index is up 0.41% in early afternoon trading on Tuesday
  • Six shares have smashed 52-week price records today including mining giant Fortescue and mining services provider Worley 
  • Other stocks ascending to annual highs include building materials supplier James Hardie and insurance stock IAG  

The S&P/ASX All Ordinaries Index (ASX: XAO) is up 0.41% in early afternoon trading on Tuesday to 7,336.1 points.

Meantime, several ASX All Ords shares are smashing 52-week highs today.

Let's find out why.

The ASX All Ords shares setting new records today

Fortescue Metals Group Ltd (ASX: FMG)

The Fortescue share price rose to an intraday high of $23.38 in what is a cracking session for ASX iron ore shares today.

China's Politburo has flagged more stimulus measures to boost the property sector and consumer spending. The news has also lifted the iron ore price by 0.9% to $US113.65 per tonne.

Worley Ltd (ASX: WOR)

Worley shares ascended to $17.25 per share today. The professional services company does a lot of work in the mining industry, so today's news out of China is the likely catalyst for today's 52-week high.

Elston analyst Leon de Wet says Worley is among the ASX All Ords shares 'that should perform regardless of economic conditions'.

Insurance Australia Group Ltd (ASX: IAG)

The IAG share price hit a new 52-week high of $5.92 today.

IAG and other ASX All Ords insurance shares have been screaming up the charts over the past 12 months as insurers raise premiums well above inflation. Two other major insurers hit 52-week highs this month.

Seven Group Holdings Ltd (ASX: SVW)

The Seven share price rose to $26.19 today. This takes the investment company's 12-month return to above 50%.

Seven holds major stakes in Boral Limited (ASX: BLD), Beach Energy Ltd (ASX: BPT), and Seven West Media Ltd (ASX: SWM).

Netwealth Group Ltd (ASX: NWL)

Netwealth shares hit a 52-week high of $14.88 per share today.

The ASX All Ords financial services and tech company reported a record quarter earlier this month for funds under administration (FUA). FUA increased by $4.4 billion in Q4 FY23 to a record $70.3 billion.

James Hardie Industries plc (ASX: JHX)

This ASX All Ords building materials company hit a new 52-week high of $41.83 a share today.

The stock is up a remarkable 60% in 2023 so far. Looks like James Hardie shares are among several buy-the-dip opportunities that may have passed us by since the start of the year.

Motley Fool contributor Bronwyn Allen has positions in Fortescue Metals Group and James Hardie Industries Plc. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Netwealth Group. The Motley Fool Australia has positions in and has recommended Netwealth Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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