Tuesday, April 17, 2018

Recent Buy: 3M Company (MMM)

I've made two purchases this month to conclude all my purchasing for the month. I was able to continue to take advantage of market weakness and get shares at a discount! This company has been on my radar for a long time now and I was happy that the market weakness offered a good opportunity to get my hands on it. Every buy is on step closer to financial freedom and it feels absolutely amazing. I look forward to purchasing more and more stock as I know it will get me closer and closer to that sweet freedom. 

On April 2nd I was able to buy 5 shares of 3M Company (MMM) for $210.70 a share. This adds $27.20 of yearly dividend income to my portfolio!

Some quick facts about 3M Company: 
  • EPS of 9.17
  • P/E of 23
  • Current yield of 2.50%
  • EPS growth as follows
    • 1 year - 12.4%
    • 3 year - 7%
    • 5 year - 7.7%
  • Dividend growth rate as follows
    • 3 year - 11.2%
    • 5 year - 14.8%
    • 10 year - 9.4%
  •  Dividend payout ratio at 59%
This is a tremendous company that makes a ton of different products. I'm really happy with this purchase and the ability to add a high quality dividend growth company at a discount. As I write this the stock is already up 4% since I bought it. Now, again I don't really care about price as long as the dividend grows and is a good rate relative to the price. 

Let me know what you guys think! What have you been buying this month?

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