ASX Stocks Hitting 52 Week Highs: Four Leaders in Focus

There are a handful of ASX stocks hitting 52-week highs into the weekend, with four $1bn plus market cap names in focus. Reliance Worldwide Corp (RWC), Coden (CDA), Ansell (ANN) and Cuscal (CCL) each worked against a broadly red tape on Friday, with the ASX 200 closing 0.43% lower at 8665.

The standout amongst the group YTD is Codan Ltd (ASX: CDA), which surged to an all-time high of A$53.62 before settling at A$52.25 by Friday’s close, representing a weekly gain of 4.29% and a mighty 80.05% gain since the turn of the 2026. Ansell Ltd (ASX: ANN) was next up in weekly terms, touching A$44.28 before closing at A$44.21, up 4.48% for the week and 25.60% year-to-date.

Reliance Worldwide Corp (ASX: RWC) hit a 52-week high of A$4.68 and held most of that ground, closing at A$4.66 for a 1.53% weekly gain and a 21.04% advance since January. Cuscal Ltd (ASX: CCL) was the only name among the four to finish the week marginally lower, slipping 0.33% to A$6.02 after touching A$6.16 intraday, though its 35.89% year-to-date return remains firmly in the top tier of the broader market.

A Snapshot Of Stocks at Highs

A$4.1 Billion Brookfield Takeover Sets a Price Floor For RWC

The clearest catalyst belongs to RWC, as the company signed a Scheme Implementation Deed with global alternative asset manager Brookfield Corporation, under which Brookfield will acquire 100% of RWC shares at US$3.38 cash per share, equivalent to approximately A$4.75.

The deal values the enterprise at roughly A$4.1 billion, implying an FY26 EV-to-adjusted EBITDA multiple of approximately 12.1 times. RWC’s board unanimously recommended the offer, which represents the culmination of a negotiating process that began with an earlier Brookfield approach at A$4.15 per share.

A notable structural feature of the agreement is a 30-day “go-shop” clause running through mid-October, during which RWC is permitted to actively solicit competing proposals. That provision keeps the door open for a potential rival bid, particularly from large institutional shareholders such as AustralianSuper, which holds a meaningful stake.

Record Results Support Codan Rally

Codan’s rise to all-time highs is underpinned by a set of FY26 financials that materially exceeded market expectations. The Adelaide-based electronics manufacturer reported full-year revenue of A$875 million, up 30% on the prior year, while net profit after tax climbed 69% to A$175.2 million. Both of its core divisions contributed meaningfully.

Within Communications, sales of unmanned radio systems roughly doubled to approximately A$215 million, driven by accelerating global demand for tactical drone networks and the NATO-aligned “Drone Edge” initiative. The division is entering FY27 with an order book of A$380 million and management has guided for approximately 20% revenue growth in the year ahead. The Minelab metal detection division delivered a 42% revenue increase to A$362 million, supported by elevated gold prices and new product introductions. The company also completed the acquisition of Adaptive Dynamics, adding anti-jamming tactical radio technology to its communications portfolio. Codan ended the period with a net cash position of A$35.7 million, having eliminated its net debt entirely through organic cash generation.

Cost Programme & Buyback Drives Ansell

Ansell’s move to multi-year highs followed the delivery of FY26 adjusted earnings per share of US148.6 cents, an 18.5% increase on a constant-currency basis and a result near the top of the company’s own guidance range. Revenue reached A$2.14 billion, with second-half demand recovering across both its Healthcare and Industrial segments.

The result was shaped in large part by the completion of Ansell’s Accelerated Productivity Investment Programme, which achieved its targeted US$50 million in recurring annual cost savings. EBIT margins expanded by 90 basis points despite persistent headwinds from global tariff pressures and Middle East-related supply chain disruptions. Cash flow conversion came in at 113%, providing the balance sheet flexibility to support a 35% increase in the full-year dividend and the continuation of a US$200 million on-market share buyback programme into FY27. Management issued FY27 adjusted EPS guidance of US158 to US170 cents, implying further double-digit growth at the midpoint.

Payments Scale-Up Drives Profit Growth at Cuscal

Cuscal, the B2B payments infrastructure provider and Authorised Deposit-taking Institution, reported FY26 net operating income growth of 20% to A$347.7 million, with underlying NPAT also rising 20% to A$46.2 million. Total transaction volumes processed across the platform grew 12% to 4.8 billion.

The company’s recent acquisitions of New Zealand payments network Paymark and Australian payments processor Indue are central to its growth narrative, with management projecting mid-20% growth in both transaction volumes and underlying profit for FY27 as those businesses contribute for a full year. Cuscal maintained its S&P AA- credit rating and reported an ADI capital ratio of 19.1%, underscoring the financial conservatism that underpins its dividend capacity.