March 2022 Stock Considerations

With the start of a new trading month, it is time, once again, for me to highlight some of my potential stock buys for March. With all the recent market volatility there is no shortage of stocks that are looking seemingly cheaper when compared to the closing months of 2021. This month I have my eye on two potential buys but as we all know Mr. Market can give us fresh buying opportunities at any time and those two potential buys can become three or four.

First up, I’m taking a look at 3M Company (MMM). This stock has really taken a bath over the last six months or so and is now looking fairly valued. The dividend yield has jumped to well over 4% as a result of the price decline and this accidental high yield is trading at a reasonable PE of just over 14. The forward payout ratio for the dividend is sitting at about 53% making this dividend safe for now. Of course, you cannot dismiss the multi-decade dividend increases this dividend stalwart has given investors.

The next stock I am looking at is the utility UGI Corporation (UGI). This is another stock that has fallen sharply since late last year and is sporting a relatively high yield of 3.7% and appears to be undervalued at current prices. The low payout ratio for the stock sits at about 40% making this dividend very safe. UGI also has a multi-decade history of raising dividends making this a potential addition to my portfolio.

What stocks are you looking to buy in March? Please let me know below.

Disclosure: Long MMM

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