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Starting my position in $LOW FINALLY
$LOW has been on my radar for a while as a great dividend stock to add to the portfolio. They have a pretty safe dividend with 1.5% yield at these prices and 18% dividend growth over the last 5 years. They haven't missed a dividend or an increase in 59 years.

They have a conservative payout ratios, growing EPS, sales levels are higher than prepandemic levels as we exit the pandemic, they have an aggressive buy back program, great ROI, and decent debt levels.

$LOW went on a tear in 2021 and went went from prices in the $150s all the way highs in the $260s. Much of this was fueled by the pandemic. People were stuck at home during quarantine and had stimulus money to spend on projects and upgrades to make that stay more comfortable. The real estate market rocketed as quarantines eased which gave homeowner's of the older generations a great chance to remodel, sell at high prices, and then downsized. Real estate investors also pushed the market higher by taking advantage of the very profitable flipping market. All of these activities contributed to the awesome 2021 that $LOW had.

However, the story is changing now and $LOW is down over 11% in the last three months. With interest rates rising and inflation at the highest levels in decades, that activity is starting to slow. I think the backdrop conditions of home buying, building/renovating, mixed with recession fears and credit market conditions makes for an especially interesting story for $LOW.

If conditions worsen, and I think they will, $LOW should see more downside. At these levels today, I feel comfortable starting a small position and will continue to add to it as the direction of our economy becomes clearer, for better or worse!
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