I can’t believe it’s been almost one full month since my last stock purchase but I guess that’s how it goes sometimes. After a very busy buy month in June with eight separate buys, July was more muted with only two new buys and so far the August tally is one buy. Of course, I am happy with my overall pace. My goal has always been to make at least one buy every month and August is far from over.
Looking at my August stock considerations list it was refreshing to highlight a new sector for change in terms of potential buys. As many of us already know, for the last year or so our go to sectors have been energy and finance. These days, though, it seems that value is popping up in the industrial sector as well. Many long time dividend payers and growers are suddenly sporting some pretty decent prices/values as well as attractive yields not seen in a few years. While I still have my eye on Caterpillar Inc. (CAT), Emerson Electric Co. (EMR) and Dover Corporation (DOV) I went with a long time favorite sector of mine, the Canadian banks. With that being said, let’s review my recent stock purchase.
I have added to my ROTH account 13.9034 shares at $57.54 for a total investment of $800.00 in Royal Bank of Canada (RY). With this recent purchase my ROTH account holdings in RY now totals 52.8179 shares for a value of $3,044.42.
RY, is my smallest of three Canadian bank holdings I have and I simply wanted to take advantage of better pricing, valuation and current yield while averaging down my overall buy price at this time. It’s no secret that I am a fan of the Canadian banks and have been slowly building up my positions in The Toronto-Dominion Bank (TD), The Bank of Nova Scotia (BNS) and Royal Bank of Canada (RY) over the past year.
What do you think about my recent buy? The Canadian banks are pretty beat up as of late and offering some pretty attractive, safe, current yields with much better values than in the past. Is this a sector you are buying in August? Please let me know below.
Dosclosure: Long TD, BNS, RY, CAT, EMR, DOV