In this article, we discuss the best dividend stocks under $50. If you want to read our detailed analysis of dividend stocks and their returns over the years, go directly to read 11 Best Dividend Paying Stocks Under $50.
5. Hyster-Yale Materials Handling, Inc. (NYSE:HY)
Share Price as of September 30: $23.08
Hyster-Yale Materials Handling, Inc. (NYSE:HY) is an American company that designs and sells lift trucks and other specialized material handling equipment. In Q2 2022, the company reported revenue of $895.4 million which beat estimates by $78.7 million. The revenue also showed a 24.5% growth from the same period last year. At the end of June, the company’s cash on hand was $75.6 million, up from $65.1 million in the prior-year quarter.
Hyster-Yale Materials Handling, Inc. (NYSE:HY) currently pays a quarterly dividend of $0.3225 per share, with a dividend yield of 5.67%, as of September 30. The company has been raising its dividends consistently for the past eight years.
At the end of Q2 2022, 9 hedge funds tracked by Insider Monkey owned stakes in Hyster-Yale Materials Handling, Inc. (NYSE:HY), up from 7 in the previous quarter. The total value of these stakes is nearly $46 million, compared with $43.7 million worth of stakes owned by hedge funds in the preceding quarter. GAMCO Investors was the company’s leading stakeholder in Q2.
Diamond Hill Capital mentioned Hyster-Yale Materials Handling, Inc. (NYSE:HY) in its Q4 2021 investor letter. Here is what the firm has to say:
“Lift truck manufacturer Hyster-Yale’s pandemic-related operational malaise has been exacerbated by supply chain disruptions. Additionally, the management’s turnaround strategy has experienced delays. With little visibility into when the company may move past these issues and how long it may take for a strategic turnaround to gain traction, we decided to exit the holding to upgrade capital into higher conviction names.”
4. HNI Corporation (NYSE:HNI)
Share Price as of September 30: $27.14
HNI Corporation (NYSE:HNI) is an Iowa-based furniture company that also specializes in hearth products, including gas, electric, wood, and biomass burning fireplaces. In August, Sidoti maintained its Neutral rating on the stock with a $38 price target. The firm expects the company’s revenue to grow in the upcoming quarter as well.
In Q2 2022, HNI Corporation (NYSE:HNI) reported an operating cash flow of $13.7 million. The company’s net income grew to $44.5 million, from $32.4 million in the same period last year. Its revenue of $621.7 million showed a 21.8% growth from the prior-year quarter. At the end of July 2022, the company had over $19.2 million available in cash and cash equivalents with $1.58 billion in total assets.
HNI Corporation (NYSE:HNI) pays $0.32 per share in quarterly dividends. The company has been raising its dividends for the past 11 years with a relatively low five-year dividend CAGR of 2.38%. As of September 30, the stock’s dividend yield came in at 4.69%.
At the end of Q2 2022, 10 hedge funds tracked by Insider Monkey owned stakes in HNI Corporation (NYSE:HNI), down from 11 in the previous quarter. These stakes hold a combined value of $15.8 million. Ken Griffin and Israel Englander were some of the company’s major stakeholders in Q2.
3. STORE Capital Corporation (NYSE:STOR)
Share Price as of September 30: $31.29
STORE Capital Corporation (NYSE:STOR) is an Arizona-based real estate investment trust company that provides net lease solutions to middle market estate capital. In September, Evercore ISI initiated its coverage on the stock with an Outperform rating and also lifted the stock’s price target to $32, from $29.
In the second quarter of 2022, STORE Capital Corporation (NYSE:STOR) reported a net income of $90.5 million and its AFFO came in at $163.8 million. The company’s free cash flow for the quarter stood at $167 million, up from $160 million in the previous quarter. The revenue of $223.8 million showed a 16.6% year-over-year growth.
STORE Capital Corporation (NYSE:STOR) has been raising its dividends consistently for the past six years and has a five-year CAGR of 5.83%, which places it as one of the best dividend stocks on our list. On September 7, the company boosted its quarterly dividend by 7% to $0.41 per share. As of September 30, the company’s shares yield at 5.21%.
At the end of Q2 2022, 22 hedge funds tracked by Insider Monkey owned investments in STORE Capital Corporation (NYSE:STOR), worth $422.7 million. In the previous quarter, 24 hedge funds owned stakes in the company, with a total value of over $748.2 million.
2. Altria Group, Inc. (NYSE:MO)
Share Price as of September 30: $41.17
Altria Group, Inc. (NYSE:MO) is an American tobacco company that manufactures cigarettes and other tobacco-related products. The company holds one of the longest dividend growth track records in the market, having raised its dividends for 53 years consistently. It currently pays a quarterly dividend of $0.94 per share and has a yield of 9.16%, as recorded on September 30.
In July, BofA maintained its Neutral rating on Altria Group, Inc. (NYSE:MO) with a $45 price target, expressing concerns regarding the supply chain issues amid the current environment.
As of the close of Q2 2022, 48 hedge funds tracked by Insider Monkey reported owning stakes in Altria Group, Inc. (NYSE:MO), up from 47 in the previous quarter. These stakes hold a combined value of over $1.8 billion.
1. The Scotts Miracle-Gro Company (NYSE:SMG)
Share Price as of September 30: $44.12
The Scotts Miracle-Gro Company (NYSE:SMG) is an Ohio-based manufacturing company that produces and sells consumer lawn, garden, and pest control products. In fiscal Q3 2022, the company reported cash and cash equivalents of over $27.8 million, while its total assets stood at over $2.5 billion. Its cash flow generation also remained stable, reporting $463 million in operating cash flow and $430 million in free cash flow. The Scotts Miracle-Gro Company’s (NYSE:SMG) dividend payout ratio stands at 36.2%.
On August 2, The Scotts Miracle-Gro Company (NYSE:SMG) declared a quarterly dividend of $0.66 per share, in line with its previous dividend. The company holds a 12-year streak of dividend growth, coming through as one of the best stocks for retirees. As of September 30, the stock’s dividend yield came in at 6.10%.
As of the close of Q2 2022, 25 hedge funds in Insider Monkey’s database owned stakes in The Scotts Miracle-Gro Company (NYSE:SMG), up from 19 in the previous quarter. These stakes are valued at over $142.8 million. First Eagle Investment Management was the company’s largest stakeholder in Q2, owning over 1.7 million shares.
You can take a look at 10 Best Dividend Stocks to Buy According to Diamond Hill Capital and 10 Best Dividend Stocks Under $50 According to Hedge Funds
