Recent Stock Sale November 2019

Here we go. My third post in the “Recent Sells” category as I continue to whittle down my portfolio to only hold stocks that I originally intended to own rather than hold on to “new” companies that resulted from mergers or spin offs. This month brought two recent sells for me.

I have sold in my taxable account 183 shares of Amcor plc (AMCR). AMCR came into my portfolio after it merged with packaging dividend stalwart Bemis (BMS). While AMCR does pay a generous dividend, it only gets distributed twice a year. I prefer my dividends quarterly or monthly. AMCR is also based in Switzerland which means that all dividends are subject to withholding taxes at 35%. That just sucks. I would like to own a packaging company in my portfolio once again. I know many like WestRock Company (WRK) or International Paper Company (IP) and would appreciate any insight one way or the other.

I also sold in my taxable account 3.0055 shares of Wabtec Corporation (WAB). WAB entered my portfolio as a result of the GE Transportation business merging into Wabtec. Again, nothing inherently wrong with WAB it’s just not a business I ever wanted to hold on its own.

It’s funny how investing in quality stocks for the long term can yield many additions to your portfolio. Some of those spin offs or mergers actually work out well over time while others are simply duds that suck your money into a vortex of weak share price and or little or no yield.

What do you think about my recent sells? Are you holding on to your spin offs or merged companies or shuttling them? Please let me know below.

Disclosure: Long GE

7 thoughts on “Recent Stock Sale November 2019

  1. Hi Div

    I’ve actually had both IP and WRK on my radar but they have yet to pass my screen to buy. Out of the two I was close to pulling the trigger on WRK about 2-3 months ago, but the debt levels made me pause and go figure they’ve both run up about 20% since then. I thought WRK was a better buy because better FCF coverage of the dividend going back a couple years, slightly higher dividend yield, better dividend growth as compared to IP. Also I think estimates on growth were rosier for WRK.
    Divs4Jesus recently posted…DIVIDEND REPORT :: NOVEMBER 2019My Profile

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