5 Best Mid-Cap Dividend Aristocrats To Buy

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.”