5 Best Consumer Cyclical Dividend Stocks to Buy Now

1. Leggett & Platt, Incorporated (NYSE:LEG)

Dividend Yield as of November 1: 5.30%

Leggett & Platt, Incorporated (NYSE:LEG) is an American diversified manufacturing company that specializes in home and automobile-related products. In Q3 2022, the company’s operating cash flow grew by $15 million to $65 million from the same period last year. For FY22, it expects to pay $230 million in dividends to shareholders.

Leggett & Platt, Incorporated (NYSE:LEG) is one of the best dividend stocks on our list as it has raised its dividends for 51 years in a row. The company pays a quarterly dividend of $0.44 per share and has a dividend yield of 5.30%, as of November 1.

In October, Truist maintained its Hold rating on Leggett & Platt, Incorporated (NYSE:LEG) with a $35 price target, expecting a slowdown in the company’s sales in the upcoming quarters.

As of the close of Q2 2022, 12 hedge funds tracked by Insider Monkey owned stakes in Leggett & Platt, Incorporated (NYSE:LEG), compared with 15 in the preceding quarter. These stakes are collectively worth over $48.3 million. Millennium Management was the company’s leading stakeholder in Q2.

You can also take a look at 12 Best Bank Dividend Stocks to Buy Now and 11 Best Dividend Stocks Under $20

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