Philip Morris International (PM) continues to trend lower this afternoon, and I'm going to buy another 200 shares here around $49.13. At current levels, the market is not giving the company much credit for its growth potential in emerging markets.
The stock also sports an attractive 3.8% dividend yield, and this purchase gives me a total of 3,800 Philip Morris International shares, or 5.5% of the overall portfolio.
Regards,
Jim Cramer
DISCLOSURE: At the time of publication, Cramer was long PM.
Send email to james.cramer@thestreet.com.