New Buy Marine Products (MPX)

22 Jun 2016 21:51

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Grabbed 300 shares of Marine Products (MPX) at $7.99/share. This price point will provide a 3% yield and if they pull the trigger on a special year end dividend like they have done in past years then the yield is closer to 3.5%. For more detail on MPX here is a write-up from an earlier post

Unless there is a sudden market crash this will probably be my last buy for awhile. From a portfolio perspective the MPX purchase gets me to my 50% of funds invested from my rollover IRA but my portfolio is void of defensive dividend growth companies like consumer staples and utilities. Unfortunately most stocks that fall in this category seem overpriced and hence my prediction of not picking up anything for awhile. For those that are curious here are some of the companies I am waiting for:

Con Ed (ED)
Ct. Water Services (CTWS)
General Mills (GIS)
Johnson & Johnson (JNJ)
Kimberly Clark (KMB)
Procter & Gamble (PG)
PPL Corp (PPL)
Unilever (UL)
Waste Management (WM)

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