ADM, IRFAX & USB - my 3 latest purchases
Comments(0) Since June was a bit of a down month across the markets, I did pick up a few more holdings that seemed to be at an attractive price point. Here is what I purchased in the last 10 days:
ADM - Archer-Daniels-Midland Company is involved in handling various agricultural products. Basically they process, distribute, sell, etc. corn, oilseed, soybeans and other crops. I was previously familiar with the name as they are headquartered close to my hometown and have a location in my hometown. I purchased the stock at $33.89 and it took a dip after I bought it but I see today that Bank of America just upgraded it. I also purchased this because of all the recent news detailing the rising cost of various groceries, milk, and all things related to corn. I figure if we are going to get shafted at the grocery store - I might as well buy some stock of a company that is going to reap the profits (alot like owning XOM while going thru these high oil prices). ADM also pays a nice little dividend.
USB - I picked up shares of US Bancorp as the company has dropped about $3/share over the last 6 months. US Bank is an obviously recognizable bank along the lines of Bank of America but a bit smaller. What attracted me (other than the seemingly good price) is the nice 4.8% dividend payout. Take that, on top of the stability of the stock, and it seems like a smart buy at this price.
IRFAX - An international real estate fund offered by Cohen and Steers. I like the idea that the fund invests a majority of its money in international real estate equities. This was a move to help me extend more into international holdings and looked like a good time to buy if you check out the graph over the last 6 months. If you check out its main holdings you will see some familiar names.
All 3 of these fit into my strategy of offering regular dividend payouts at a current attractive price.
