5 Best Dividend Paying Debt Free Stocks to Buy

3. A. O. Smith Corporation (NYSE:AOS)

Number of Hedge Fund Holders: 33

A. O. Smith Corporation (NYSE:AOS) is next on our list of the best debt free stocks to buy. The global manufacturing company currently pays a quarterly dividend of $0.32 per share for a dividend yield of 1.50%, as of May 8. The company holds a 30-year track record of consistent dividend growth.

At the end of December 2023, 33 hedge funds in Insider Monkey’s database owned stakes in A. O. Smith Corporation (NYSE:AOS), down from 37 in the preceding quarter. These stakes are valued at over $887.6 million. With over 3.5 million shares, Impax Asset Management was the company’s leading stakeholder in Q4.

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