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Analysts follow the buying trends of institutional investors such as hedge fund managers and mutual fund managers (a.k.a. the smart money) because they have access to sophisticated research and are very experienced in choosing investments.

We ran a screen on dividend stocks trading near their 52-week lows for those that have seen significant net institutional purchases over the current quarter.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the top six stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.

We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.

Do you think the smart money is calling it right on these names? Use this list as a starting-off point for your own analysis.

List sorted by net institutional purchases as a percent of share float.

1. Frisch's Restaurants Inc. (FRS): Operates restaurants in the United States. Market cap of $96.14M. The stock is trading at 5.78% above its 52-week low. Dividend yield at 3.28%, payout ratio at 30.88%. Net institutional shares purchased over the current quarter at 18.8K, which is 22.46% of the company's 83.70K share float. The stock has gained 0.67% over the last year.

2. Quaker Chemical Corporation (KWR): Develops, produces, and markets formulated chemical specialty products for various heavy industrial and manufacturing applications. Market cap of $371.91M. The stock is trading at 8.77% above its 52-week low. Dividend yield at 3.31%, payout ratio at 33.59%. Net institutional shares purchased over the current quarter at 1.6M, which is 13.11% of the company's 12.20M share float. This is a risky stock that is significantly more volatile than the overall market (beta = 2.56). The stock has lost 11.93% over the last year.

3. Jefferies Group Inc. (JEF): Operates as a securities and investment banking company in the Americas, Europe, and Asia. Market cap of $2.42B. The stock is trading at 1.95% above its 52-week low. Dividend yield at 2.12%, payout ratio at 23.91%. Net institutional shares purchased over the current quarter at 23.3M, which is 11.24% of the company's 207.35M share float. The stock is currently stuck in a downtrend, trading 6.51% below its SMA20, 17.71% below its SMA50, and 36.57% below its SMA200. The stock has lost 43.09% over the last year.

4. Destination Maternity Corporation (DEST): Engages in the design and retail of maternity apparel. Market cap of $179.13M. The stock is trading at 4.88% above its 52-week low. Dividend yield at 5.17%, payout ratio at 28.01%. Net institutional shares purchased over the current quarter at 1.1M, which is 11.21% of the company's 9.81M share float. The stock is a short squeeze candidate, with a short float at 5.6% (equivalent to 6.11 days of average volume). The stock has lost 7.7% over the last year.

5. Allied World Assurance Company Holdings Ltd. (AWH): Operates as a specialty insurance and reinsurance company in Bermuda, Hong Kong, Ireland, Singapore, Switzerland, the United Kingdom, and the United States. Market cap of $2.05B. The stock is trading at 9.96% above its 52-week low. Dividend yield at 2.78%, payout ratio at 6.14%. Net institutional shares purchased over the current quarter at 3.8M, which is 10.19% of the company's 37.29M share float. Might be undervalued at current levels, with a PEG ratio at 0.65, and P/FCF ratio at 4.34. The stock has lost 2.5% over the last year.

6. Meredith Corp. (MDP): Engages in magazine publishing and related brand licensing, television broadcasting, integrated marketing, interactive media, and video production businesses in the United States. Market cap of $1.07B. The stock is trading at 3.97% above its 52-week low. Dividend yield at 4.34%, payout ratio at 33.61%. Net institutional shares purchased over the current quarter at 3.9M, which is 10.14% of the company's 38.47M share float. The stock is a short squeeze candidate, with a short float at 22.93% (equivalent to 11.32 days of average volume). The stock has lost 26.49% over the last year.

7. Universal Insurance Holdings Inc. (UVE): Operates as an insurance company in the United States. Market cap of $151.56M. The stock is trading at 7.06% above its 52-week low. Dividend yield at 8.44%, payout ratio at 19.36%. Net institutional shares purchased over the current quarter at 1.8M, which is 7.67% of the company's 23.48M share float. It's been a rough couple of days for the stock, losing 5.01% over the last week.

8. SK Telecom Co. Ltd. (SKM): Provides wireless telecommunications services using code division multiple access (CDMA) and wide-band CDMA technologies. Market cap of $9.71B. The stock is trading at 9.07% above its 52-week low. Dividend yield at 5.24%, payout ratio at 48.82%. Net institutional shares purchased over the current quarter at 3.9M, which is 7.50% of the company's 52.01M share float. The stock has lost 12.19% over the last year.

9. Weis Markets, Inc. (WMK): Engages in the retail sale of food in Pennsylvania and surrounding states. Market cap of $1.05B. The stock is trading at 9.83% above its 52-week low. Dividend yield at 2.98%, payout ratio at 44.77%. Net institutional shares purchased over the current quarter at 605.8K, which is 5.50% of the company's 11.01M share float. The stock is a short squeeze candidate, with a short float at 6.3% (equivalent to 18. days of average volume). The stock has gained 4.29% over the last year.

*Institutional data sourced from Fidelity, all other data sourced from Finviz.

Source: 9 Dividend Stocks Trading Near Lows With Smart Money Buying