With the market continuing to climb and fall dramatically, attractive price points are being offered to the patient long term dividend growth investor. After a very quiet August with just one purchase, September has opened up with a bang as I have added to my ROTH additional shares in The Toronto-Dominion Bank (TD), Royal Bank of Canada (RY) and Caterpillar Inc. (CAT). Getting close to maximizing my full ROTH allowance of $5,500 for the year, I looked towards my taxable account to see where I can deploy some fresh capital, especially with a free trade that was expiring. With that being said, let’s review my second batch of September buys.
I have added to my taxable account 11.6260 shares at $59.87 for a total investment of $696.05 in Dover Corporation (DOV). With this recent purchase my taxable account holdings in DOV now totals 31.2371 shares for a value of $1,884.53.
With a current yield of 2.78% and a very, very long dividend raise history, I took advantage of the recent market turmoil to average down my position in this dividend stalwart. With lower prices come better value as DOV is trading at a PE of 14.8 which is slightly lower than its five year average PE of 15.7. No doubt, oil prices have been dragging this stock down.
I have also added to my taxable account 16.0237 shares at $43.69 for a total investment of $700.00 in Archer-Daniels-Midland Company (ADM). With this recent purchase my taxable account holdings in ADM now totals 26.4335 shares for a value of $1,138.23.
ADM is another name that has been dragged down in recent weeks and is sporting a healthier yield and value as a result of all the volatility. With a current yield of 2.60% and a current PE of 11.9, ADM is also trading at a much lower than average five year PE of 15.4. Long term dividend investors always love picking up some solid companies at better values. Who says a market decline should be scary?
What do you think about my recent purchases? Are either names above in your portfolio and/or watch list? Please let me know below.
Disclosure: Long TD, RY, CAT, DOV, ADM