Here we go again.
- BNS: 40 shares @ $37.33 Yield 5.41%
- GM: 50 shares @ $30.24 Yield 5.03%
- MMM: 11 shares @ $139.86 Yield 2.95%
Total capital invested is $4564.51. The combined yield of these purchases is 4.43% and will add $202.12 to my yearly dividends.
Note:
GM raised its dividend 5.55% earlier today from $.36 to $.38 per quarter. They also gave earnings guidance of $5.25 and $.5.75 for this year. I have owned shares of GM over the last few years and continue to think they are undervalued.
BNS is now trading at April 2009 levels....enough said. Falling knives are everywhere!
DEFY MEDIOCRITY
Glad to see you're back on track and buying on the cheap. Cheap stocks are my cocain, so hard to stay away.
ReplyDeleteThose are three fantastic buys. I was surprised GM lost its bounce today and picked some up too (@$31). What's you're plan with GM? I'm not sure this is a 10+ year hold and was thinking of selling in the $40's. Thanks.
ADY,
DeleteI was surprised that GM faded in the day as well. You have to be a strong salmon to swim against yesterday's river for sure! I don't know what my long term plans are for GM. It seems like a pretty good value around $30 and have no problems holding it for a while.
MDP
I echo ADY's sentiments about GM. I've been watching it for awhile but am too gun shy about jumping into autos with a long term buy-and-hold strategy.
ReplyDeleteYou bought MMM very close to where I initiated a position on the big fall market dip. Great minds :)
I like the BNS buy. I'm already fairly heavy on it and dripped a couple shares in the 39s, but that yield is like a lollipop hanging out there.
DWC,
DeleteBNS seemed to be tightly couple to oil prices. I would not be surprised to see further weakness. Time will tell. I don't know if I will add again any time soon as I would like to add a few new positions to my portfolio first.
MDP
You already know I can get behind that BNS buy. I like MMM as well but prefer the value in other companies first. Nice yield all around if nothing else. Thanks for sharing. You sure have been busy with quite a few buys as of late.
ReplyDeleteDivHut,
DeleteMMM is not super cheap but at 3% with a 5-7% growth rate, I'm ok initiating a small position here with the intent to build it up over time. BNS could be a value trap and I'm not 100% certain about the dividend, but it's just a small entry position for now. It's worth the gamble here.
MDP
MDP,
ReplyDeleteI like MMM heading towards that 3% yield range. BNS is also an excellent buy. I have never been able to get behind a car stock in general. I have a Honda, my wife a Subaru, and I drive a Ford/GM/Nissan for work - pending projects and rentals. I have yet to love the GM cars, that is my only problem with them.
Keep crushing it!
- Gremlin
DG,
DeleteCar stocks are definitely challenging. The capital expenses are insane and the customers driving habits change very quickly. Couple that with erratic gas prices and it becomes difficult to provide the right product mix. With that said, GM seems to operating much better than during the previous couple of decades.
Thanks for stopping by Gremlin!
MDP