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Mid-cap stocks tend to pay higher dividend yields than their larger counterparts, but a high yield isn’t everything. After all, there is no guarantee that the dividend will be there tomorrow. There are better odds of the dividend continuing or even increasing if the company has a low payout ratio and strong EPS growth.

The companies on this list of 7 stocks fit all those parameters – they are mid-cap companies, with high dividends, low payout ratios and high forecasted EPS growth.

Avery Dennison Corp. (NYSE:AVY) is a diversified machinery company with a $3.14 billion market cap. It has a forward P/E of 10.80 and pays a 3.38% dividend yield on a 35.62% payout ratio. The company’s EPS is expected to grow 4.05% in the next five years, and 21.24% in the next year alone. AVY has a beta of 1.41 and recently traded at $29.59 a share. Ray Dalio’s Bridgewater Associates had $11.38 million in AVY at the end of September after increasing its holding in the company by +54% during the third quarter.

Crane Co. (NYSE:CR) is a diversified machinery company with a $2.78 billion market cap. It has a forward P/E of 12.43 and pays a 2.17% dividend yield on a 28.92% payout ratio. The company’s EPS is expected to grow 9.60% in the next five years, and 13.24% in the next year alone. CR has a beta of 1.66 and recently traded at $47.86 a share. Ken Fisher’s Fisher Asset Management had $21.36 million in CR at the end of the third quarter. Ken Griffin’s Citadel Investment Group was also a fan.

Graco, Inc. (NYSE:GGG) is a diversified machinery company with a $2.40 billion market cap. It has a forward P/E of 15.37 and pays a 2.24% dividend yield on a 36.49% payout ratio. The company’s EPS is expected to grow 20.15% in the next five years, and 14.41% in the next year. GGG has a beta of 1.58 and recently traded at $40.26 a share. Chuck Royce’s Royce & Associates had $26.19 million in GGG after upping its position in the company by +3% during the third quarter.

MDU Resources Group, Inc. (NYSE:MDU) is a general building materials company with a $4.03 billion market cap. It has a forward P/E of 16.41 and pays a 3.14% dividend yield on a 50.37% payout ratio. The company’s EPS is expected to grow 6.57% in the next five years, and 13.04% in the next year. MDU has a beta of 1.10 and recently traded at $21.33 a share. Cliff Asness’ AQR Capital Management, D.E. Shaw’s D E Shaw and Israel Englander’s Millennium Management each had significant positions in MDU at the end of the third quarter.

Pentair, Inc. (NYSE:PNR) is an industrial equipment and components company with a $3.47 billion market cap. It has a forward P/E of 13.20 and pays a 2.27% dividend yield on a 36.20% payout ratio. The company’s EPS is expected to grow 11.70% in the next five years, and 11.25% in the next year. PNR has a beta of 1.06 and recently traded at $35.25 a share. Douglas W. Case’s Advanced Investment Partners, D.E. Shaw’s D E Shaw and Israel Englander’s Millennium Management each had significant positions in PNR at the end of the third quarter.

Rockwell Automation, Inc. (NYSE:ROK) is an industrial electrical equipment company with a $10.30 billion market cap. It has a forward P/E of 12.29 and pays a 2.35% dividend yield on a 30.37% payout ratio. The company’s EPS is expected to grow 13.71% in the next five years, and 10.71% in the next year. ROK has a beta of 1.73 and recently traded at $72.38 a share. Jim Simons’ Renaissance Technologies was bullish on ROK. The fund initiated a new position in the company worth $40.48 million at the end of the third quarter.

Snap-on, Inc. (NYSE:SNA) is a small tools and accessories company with a $3.03 billion market cap. It has a forward P/E of 10.75 and pays a 2.61% dividend yield on a 22.65% payout ratio. The company’s EPS is expected to grow 13.00% in the next five years, and 10.50% in the next year. SNA has a beta of 1.52 and recently traded at $52.01 a share. Jeffrey Gates’ Gates Capital Management had $48.46 million in SNA at the end of September after raising its stake in the company by +23% during the third quarter.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: 7 Mid-Cap, Dividend-Yielding Stocks With Low Payout Ratios