If you have a spare $2,000 available to help build your ASX share portfolio, there are 2 quality companies that I think are worth considering.
Here's why Blackmores Limited (ASX: BKL) and Ansell Limited (ASX: ANN) are in my buy zone right now.
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Blackmores
Blackmores is a quality ASX share with a familiar brand name. The company's range of vitamins, minerals and herbal and nutritional supplements now extend beyond Australia and New Zealand to Asia.
The Blackmore's share price has not performed particularly well in the past 12 months. In fact, it has gone slightly backwards during that time.
Blackmores has experienced strong demand for its immunity products in recent months. However, this has been offset by weaker demand in other areas of its business business. In particular, its Chinese operations have not performed as well as expected.
However, Blackmores now has a new Asian expansion strategy is place. Hopefully, this will better position the company for stronger growth in the year or two ahead. With its share price well below pre-COVID 19 levels in February, now could be a good time for patient investors with a long-term investment horizon to purchase shares in Blackmores.
Ansell
Ansell manufactures gloves and protective personal equipment in the industrial and medical markets. The company has seen strong demand for its hand and body protection products during the coronavirus pandemic. This product range has been been industry-certified for protection against a range of infections and viruses such as COVID-19.
The strong demand is reflected in a positive upward trend in the Ansell share price in recent months. The Ansell share price has risen from $21.43 on 23 March to $39.84 in mid-morning trade today. That's an increase of more than 85%.
Despite this strong recent rise, I believe there is still potential for above average shareholder returns in the the next few years. The demand for protective personal equipment in the healthcare segment is only going to rise over the next decade. And Ansell is well-positioned to serve a number of regional markets with its product range. Ansell has an entrenched market position, with sales operations in more than 50 countries around the globe.
Foolish Takeaway
Blackmores and Ansell are both quality ASX shares that I believe would be good additions to your share portfolio right now. Both companies have strong market positions in their operating market and strong growth potential over the next 3 to 5 years.
