On October 28, 2022, a company headquartered in Mansfield, Ohio since 1933 joined the list of Dividend Kings. This company designs, manufactures and sells pumps for use in water, wastewater, construction, industrial, petroleum, original equipment, agriculture, fire suppression, heating, ventilation and air conditioning (HVAC), military and other liquid-handling applications.
In other words, the specialize in pumps. And they pay dividends.
All hail The Gorman-Rupp Company!
…This week, three of the portfolio holdings ranked in the Top 10: MMM, QCOM, and TDS.
| Ticker | Account Value |
| MMM | 1,462.78 |
| QCOM | 1,700.02 |
| TDS | 1,387.87 |
For the second straight week, the lowest amount belongs to TDS. In order to invest a minimum of $250 in TDS, I need to purchase 22 shares this Monday. Below, I present the purchase history, average cost calculation (subject to change), and expected weights.
This week, four of the portfolio holdings ranked in the Top 10: LEG, MMM, QCOM, and TDS.
| Ticker | Account Value |
| LEG | 1,468.72 |
| MMM | 1,373.24 |
| QCOM | 1,493.66 |
| TDS | 1,228.00 |
The lowest amount belongs to TDS. I suppose it is because it dropped 26% on November 4th after a disappointing 2022 3Q earnings announcement. In order to invest a minimum of $250 in TDS, I need to purchase 21 shares this Monday. Below, I present the purchase history, average cost calculation (subject to change), and expected weights.
This week, three of the portfolio holdings ranked in the Top 10: LEG, MMM, and QCOM.
| Ticker | Account Value |
| LEG | 1,203.12 |
| MMM | 1,392.60 |
| QCOM | 1,668.94 |
The lowest amount belongs to LEG. In order to invest a minimum of $250 in LEG, I need to purchase 8 shares this Monday. Below, I present the purchase history, average cost calculation (subject to change), and expected weights.
This past weekend, using the Sure Analysis Research Database from Sure Dividend, I ranked stocks in preparation for my weekly investment of $250. I noticed that my universe from which I invest, the Empire, now numbered 71, one more than last week. After matching one list of tickers against another, I found a company with a 50-year streak of annual dividend increases, that had made it through my filters but had not yet appeared on Sure Dividend’s official list of Dividend Kings. I contacted Sure Dividend about the inconsistency and their founder and CEO Ben Reynolds, responded promptly. He agreed that this company should be added to the Dividend King list.
I wish this new Dividend King hailed from the Technology or Telecommunications sector, but it is a utility. Nevertheless, it is always a pleasure to see another company make this exclusive list.
All hail Middlesex Water Company!
…This week, three of the portfolio holdings ranked in the Top 10: LEG, MMM, and QCOM.
| Ticker | Account Value |
| LEG | 875.56 |
| MMM | 1,284.91 |
| QCOM | 1,620.36 |
The lowest amount belongs to LEG. In order to invest a minimum of $250 in LEG, I need to purchase 8 shares this Monday. Below, I present the purchase history, average cost calculation (subject to change), and expected weights.
Earnings season is underway in earnest. PPG will be the first in the portfolio to announce tomorrow. Then over the next three weeks, the remaining ten holdings follow suit. I truly don’t expect any material surprises in either direction. However, I do expect some positive price movement as more than a few of the holdings are in oversold territory. The bear market has been indiscriminate in its selloff. But earnings season is a time when strong companies pick up their tits and walk, and the wheat gets separated from the chaff, mixaphorically speaking.
This week, two of the portfolio holdings ranked in the Top 10, MMM and QCOM. TDS found its way out of the Top 10.
| Ticker | Account Value |
| MMM | 1,249.93 |
| QCOM | 1,209.45 |
The lowest amount belongs to QCOM. In order to invest a minimum of $250 in QCOM, I need to purchase 3 shares this Monday. Unless the market price on Monday is vastly different from Friday’s close, doing so will not violate the stock weight or sector weight constraints.
This is just a quick follow up to my last post wherein I provided some insight into what we could expect from today’s CPI report. My rather simple regression-derived estimate for the month over month change was spot on. My estimate for the annual change was high.
…Today, the U.S. Bureau of Labor Statistics released its latest report on the Producer Price Index (PPI). In about 9 hours, they will release its latest Consumer Price Index (CPI) report. The PPI report came in slightly worse than expected, and the market responded accordingly with a 0.32% drop. The market is hoping for a good CPI report because that would be an indication that the Fed’s rate increase and monetary tightening policy to address rampant inflation is working. In fact, the market really wants a stellar report. That would be cause for the Fed to reconsider its aggressive policy and avert a deep recession.
I believe the market is going to be disappointed.
…