3 Top Dividend Stocks to Buy in October and Hold for Decades to Come
2024-10-04 14:00:00
With the S&P 500 and Nasdaq Composite up over 20% year to date, investors may be feeling like the stock market is overvalued. And while certain pockets of the market are more expensive than in past years, that doesn’t mean there aren’t opportunities if you know where to look. In fact, now is the perfect time to filter out the noise, zoom out, and focus on companies you would be comfortable holding for decades to come.
Here’s why Visa (NYSE: V), Kinder Morgan (NYSE: KMI), and PPG Industries (NYSE: PPG) stand out as worthwhile dividend stocks to buy in October.
Moreover, there’s reason to believe PPG can meaningfully improve its earnings, cash flow, and dividends in the coming years. For example, it has heavy exposure to interest rate-sensitive sectors such as architectural paints and automotive (original equipment manufacturing). They should improve in a lower interest rate environment. In addition, PPG is the leading player in the aerospace coatings market and stands to benefit from a multiyear ramp in airplane production and the growth of commercial air traffic.
PPG’s market position is solid as the second-largest global paint and coatings company operating in a consolidating industry. As long as there’s a need for physical products, there’ll be a need for coatings. As such, PPG is an excellent option for dividend investors.
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Daniel Foelber has no position in any of the stocks mentioned. Lee Samaha has no position in any of the stocks mentioned. Scott Levine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple, Kinder Morgan, and Visa. The Motley Fool has a disclosure policy.
3 Top Dividend Stocks to Buy in October and Hold for Decades to Come was originally published by The Motley Fool
