5 Best Mid-Cap Dividend Aristocrats To Buy

In this article, we discuss 5 best mid-cap dividend aristocrats to buy. If you want to read our detailed analysis of dividend stocks and their performance, go directly to read 10 Best Mid-Cap Dividend Aristocrats To Buy.

5. Bank OZK (NASDAQ:OZK)

Number of Hedge Fund Holders: 24
Market Cap as of April 11: $3.9 billion 

Bank OZK (NASDAQ:OZK) is an American bank holding company that conducts banking operations in eight states across the country. On April 3, the company declared a 2.9% hike in its quarterly dividend to $0.35 per share. This was the company’s 51st consecutive quarter of dividend growth. In addition to this, the company has also raised its payouts for 27 years straight, which places it as one of the best dividend stocks on our list. The stock has a dividend yield of 4.20%, as of April 11.

In March, UBS upgraded Bank OZK (NASDAQ:OZK) to Buy with a $47 price target, appreciating the company’s earnings power in the current market.

At the end of Q4 2022, 24 hedge funds in Insider Monkey’s database owned stakes in Bank OZK (NASDAQ:OZK), growing from 17 in the preceding quarter. The collective value of these stakes is over $156.6 million. Among these hedge funds, Diamond Hill Capital was the company’s leading stakeholder in Q4.

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

Number of Hedge Fund Holders: 26
Market Cap as of April 11: $9.8 billion 

A. O. Smith Corporation (NYSE:AOS) manufactures commercial and residential water heaters and boilers. On April 10, the company declared a quarterly dividend of $0.30 per share, which was consistent with its previous dividend. The company has been raising its dividends consecutively for the past 29 years, coming through as one of the best dividend stocks on our list. The stock has a dividend yield of 1.83%, as of April 11.

Baird presented a positive outlook on A. O. Smith Corporation (NYSE:AOS) and raised its price target on the stock to $70 in February with a Neutral rating on the shares.

At the end of December 2022, 26 hedge funds in Insider Monkey’s database owned stakes in A. O. Smith Corporation (NYSE:AOS), compared with 29 a quarter earlier. These stakes have a consolidated value of over $483 million.

TimesSquare Capital Management mentioned A. O. Smith Corporation (NYSE:AOS) in its Q4 2022 investor letter. Here is what the firm has to say:

“We trimmed our position on that strength. Added to the strategy this quarter was A. O. Smith Corporation (NYSE:AOS), the leading global manufacturer of residential and commercial-grade water heaters and boilers. The company saw a rebound in orders after a period of steady inventory destocking, which added to our assessment that A.O. Smith was poised to benefit from increased sales and improving margins. In addition, its sales in China have stabilized.”

3. MDU Resources Group, Inc. (NYSE:MDU)

Number of Hedge Fund Holders: 27
Market Cap as of April 11: $6.05 billion 

MDU Resources Group, Inc. (NYSE:MDU) is a North Dakota-based company that provides products and services through its regulated energy delivery and construction materials. The company currently offers a per-share dividend of $0.2225 every quarter for a dividend yield of 2.99%, as of April 11. In 2022, it raised its dividend for the 32nd consecutive quarter, which makes it one of the best dividend stocks on our list.

As per Insider Monkey’s Q4 2022 database, 27 hedge funds owned investments in MDU Resources Group, Inc. (NYSE:MDU), with a collective value of nearly $580 million. With over 10 million shares, Corvex Capital was the company’s leading stakeholder in Q4.

2. National Fuel Gas Company (NYSE:NFG)

Number of Hedge Fund Holders: 30
Market Cap as of April 11: $5.2 billion 

National Fuel Gas Company (NYSE:NFG) is an American natural gas distribution company, headquartered in New York. The company’s cash position remained strong in fiscal Q1 2023 as it reported $327.3 million in operating cash flow, compared with $171.5 million in the prior-year period.

On March 9, National Fuel Gas Company (NYSE:NFG) declared a quarterly dividend of $0.475 per share, which was in line with its previous dividend. The company has been raising its dividends consistently for the past 52 years, coming through as one of the best dividend stocks on our list. The stock has a dividend yield of 3.30%, as of April 11.

At the end of Q4 2022, 30 hedge funds tracked by Insider Monkey owned stakes in National Fuel Gas Company (NYSE:NFG), compared with 29 in the previous quarter. These stakes have a consolidated value of nearly $230 million.

1. Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Number of Hedge Fund Holders: 36
Market Cap as of April 11: $9.1 billion 

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) is an American multinational company of welding products and also specializes in robotic welding systems. It tops our list of the best dividend stocks as the company has raised its dividends for 27 years in a row. It currently pays a quarterly dividend of $0.64 per share and has a dividend yield of 1.60%, as of April 11.

As of the end of Q4 2022, 28 hedge funds tracked by Insider Monkey reported owning stakes in Lincoln Electric Holdings, Inc. (NASDAQ:LECO), with a total value of roughly $314 million. Woodline Partners was the company’s leading stakeholder in Q4.

You can also take a look at 10 Best EV Battery Stocks Under $10 and 13 Best Emerging Market Stocks to Buy

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