We are in the market today switching our exposure within US housing exposed stocks, taking a loss on James Hardie (JHX) to reallocate funds into Reece (REH) – with the same prevailing weight. JHX should trade up well today, having rallied ~6% in the US overnight.
MM is selling JHX in the Active Growth Portfolio, taking a loss around $35
Add To Hit List
Reece (REH) has endured a challenging few years, with increased competition in its mature ANZ operations and a sluggish US construction market weighing on earnings. We expect trends to improve, and believe REH is better placed than JHX to capture the upside. We are making a straight 1-1 switch.
MM is buying REH in the Active Growth Portfolio, targeting a 4% weighting around $15.70
Add To Hit List
