5 Best Passive Income Stocks to Buy Now

In this article, we discuss 5 best passive income stocks to buy now. If you want to read our detailed analysis of dividend stocks and their performance in the past, go directly to read 10 Best Passive Income Stocks to Buy Now. 

5. Apogee Enterprises, Inc. (NASDAQ:APOG)

Apogee Enterprises, Inc. (NASDAQ:APOG) is a Minnesota-based architectural services company that provides related products and services to its consumers. The company currently pays a quarterly dividend of $0.22 per share, with a dividend yield of 2.08%, as of October 10. In 2022, the company raised its dividend for the ninth consecutive year, which makes it one of the best dividend stocks for passive income.

In Q2 2022, Apogee Enterprises, Inc. (NASDAQ:APOG) reported an operating cash flow of over $27.8 million while its free cash flow came in at $23.7 million. Through the first half of the year, the company paid $84 million to shareholders in dividends and share repurchases, up from $32.5 million paid during the same period last year. The company ended the quarter with $22.1 million available in cash and cash equivalents.

Apogee Enterprises, Inc. (NASDAQ:APOG) was a popular buy among hedge funds in Q2 2022, as 14 hedge funds in Insider Monkey’s dataset owned stakes in the company, up from 7 in the previous quarter. These stakes hold a collective value of over $24.4 million. Millennium Management opened its position in the company in Q2 and was the company’s leading stakeholder.