Banking

See Where The Best Mutual Funds Are Building Their Positions

Led by investments in Builder FirstSource (BLDR), D.R. Horton (DHI), TopBuild (BLD), Green Brick Partners (GRBK) and Atkore (ATKR), the best mutual funds have been scooping up shares in building sector stocks.




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Top money managers also established or added to positions in semiconductor industry stocks like Applied Materials (AMAT), Micron Technology (MU), Entegris (ENTG), Kulick & Soffa Industries (KLIC) and Lam Research (LRCX).

The best mutual funds also banked on several stocks in the financial sector, including Square (SQ), Charles Schwab (SCHW), Ally Financial (ALLY) and Silvergate (SI).

Leisure industry stocks joined in on the fun. Large investors picked up shares in growth stocks like Yeti (YETI), Polaris (PII), Brunswick (BC), Fox Factory (FOXF) and MarineMax (HZO) as people enjoy the easing of pandemic-driven lockdowns.

Note: Be sure to check these Excel files to see all the stocks on the latest list of new buys and list of new sells by the best mutual funds.


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Best Mutual Funds Help Building Sector Make Big Gains

Lumber stocks and homebuilders have been soaring.

Louisiana Pacific (LPX), which makes engineered wood products, has bolted off its March 2020 lows to new highs. The Nashville, Tenn., based company has averaged 2,020% earnings growth over the last three quarters. Analysts expect Louisiana Pacific to deliver a 676% EPS increase in the current quarter and 70% growth for 2021.

IBD 50 stock Atkore has also delivered strong gains while posting accelerating earnings and sales growth. Based in Illinois, Atkore makes electrical and mechanical products for the nonresidential construction and industrial markets.

Last quarter, Builders FirstSource posted a spike in both earnings (215%) and sales (44%). Providing building products for new residential construction in the U.S., analysts expect the Texas-based company to deliver 100% EPS growth in Q1.

Led by DHI stock, GRBK stock, Toll Brothers (TOL), LGI Homes (LGIH), KB Home (KBH) and MDC (MDC), homebuilders have also nailed down big gains and strong demand among the best mutual funds.

While many building sector stocks are extended, some are forming or testing new buy points. TopBuild, Green Brick Partners, Taylor Morrison (TMHC) and Installed Building Products (IBP) fit that bill.

Growth Stocks Building Bases And Breakouts

In addition to building sector names, several other growth stocks that made the list of new buys by the best mutual funds have also formed chart patterns and potential buy zones.

Square stock is working on a new base showing a 283.39 buy point. Entegris stock broke out earlier in the month and is now trading at the very top of its price range.

Polaris stock has moved just out of buy range, while Yeti stock is still setting up.

Particularly for stocks in or near a new buy zone, be sure to check the earnings calendar to see when they’re scheduled to report and have a game plan in place before the company releases its latest numbers.

Follow Matthew Galgani on Twitter at @IBD_MGalgani.

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