Here’s one stock hitting a 52-week high and one finding a 52-week low today:
New High: Ralcorp Holdings
Shares of Ralcorp Holding, for one, soared more than 26% on the day. A slight bump after the open this morning puts the stock at a new 52-week high just under $90. Before the jump, RAH was suffering double-digit losses on the year. Now, it has year-to-date gains of around 3%.
ConAgra investors also smiled on the news. The stock’s small gains sent it to a new 52-week low just under $30 and brought its climb since January into the double digits.
The addition of Ralcorp’s private-label cereals, pastas, crackers, jams and jellies, syrups and frozen waffles makes ConAgra into a packaged food giant with $18 billion dollars in annual sales and exposure to fast-growing retailers like Whole Foods (NYSE:WFM) and Costco (NASDAQ:COST), Reuters reported.
New Low: Cliff’s Natural Resources
Shares of Cliff’s Natural Resources (NYSE:CLF) lost more than 4% by mid-morning today, sending the stock to a new 52-week low under $30. The stock has lost more than half of its value since the start of the year, when shares costs more than $60.
Analysts have been hard on the battered stock of late, as Goldman Sachs (NYSE:GM) recently downgraded Cliff’s from “neutral” to “sell” and an analysts from BMO Capital reported that he expects the company to significantly cut its dividend.
Of course, after this sell-off, the stock’s 62-cent payout yields a whopping 8.7%.
As of this writing, Alyssa Oursler did not own a position in any of the aforementioned companies.