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Highlights
The Australian market has traded on a volatile note in the recent past.
Many tech and non-tech shares have hit their lowest points in the last 12 months.
On Thursday, the ASX 300 index ended down 0.8%.
The Australian market has seen an increased uncertainty in the past few months on account of rise in inflation and interest rates. As a result, both tech and non-tech shares have faced challenges, with many hitting their lowest prices in the past 12 months. On Thursday, the benchmark ASX 200 index fell 0.8% to 7,175.9 points. The ASX 300 index was also down 0.8%.
On this note, let’s look at these three ASX 300 shares which hit their 52-week lows on Thursday:
ARB Corporation Ltd (ASX:ARB)
ARB Corporation deals in the creation, manufacturing, distribution, and transaction of motor-vehicle related accessories along with light metal engineering activities.
The share price of ARB Corporation hit a 52-week low of AU$301.4 on Thursday and ended the session at AU$30.61, down 3.32%. The share price has fallen nearly 44% on a year-to-date (YTD) basis.
However, the company’s management has a positive outlook. Last month, the company said that it had increased inventory levels to buffer against extended lead times. The firm also has emerging partnerships with major customers and new products in development.
Brickworks Ltd (ASX:BKW)
Brickworks deals in manufacturing, selling, and distributing building products in Australia. The company manufactures products like bricks, blocks, pavers, floor tiles, precast walling, masonry blocks, flooring panels and terracotta roof tiles.
The share price of BKW hit a 52-week low of AU$19.68 on Thursday and ended the session at AU$19.87, down 2.12%. The share price has fallen nearly 20% on a YTD basis.
The company is expected to report property development profits within the property trust in coming reporting periods. Brickworks is currently completing the construction of some large warehouses for large businesses such as Coles Group, and Woolworths Group.
Adairs Ltd (ASX:ADH)
Adairs is a name in home ware retailing and furnishings in Australia with core or staple product categories, and fashion and decorator product categories.
The share price of ADH hit a 52-week low of AU$2.15 on Thursday and ended the session at AU$2.17, down 2.69%. The share price has fallen over 46% on a YTD basis.
Adairs’ retail business faced disruption as stores closed in the first half of FY22. However, the company now expects to increase its store floor area over the longer term, grow online sales, and boost its membership base.
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