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Guru Stocks Raising Dividends: RKT, EXLP, MCY, CGNX, MIG

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gurujk

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This is the group of companies who raised their dividend during the week: RockTenn Company, Exterran Partners L.P., Mercury General Corp., Cognex Corp., Meadowbrook Insurance Group Inc.

RockTenn Company (RKT)

RockTenn is one of North America’s manufacturers of paperboard, containerboard and consumer and corrugated packaging. Rocktenn Company has a market cap of $1.97 billion; its shares were traded at around $50.61 with a P/E ratio of 11.4 and P/S ratio of 0.7. The dividend is payable on Nov. 22 to shareholders of record on Nov. 9. The ex-dividend date is Nov. 5. The yield based on the new payout is 1.38%.

RockTenn reported earnings for the quarter ended September 30, 2010 of $2.31 per diluted share. The Company’s adjusted earnings were $1.64 per diluted share compared to the prior year quarter adjusted earnings of $1.19 per diluted share. Net sales of $806.8 million for the fourth quarter of fiscal 2010 increased $77.8 million, or 10.7% over the fourth quarter of fiscal 2009. Net cash provided by operating activities in the fourth quarter of fiscal 2010 was $64.3 million compared to $117.4 million in the prior year quarter.

RockTenn Company is owned by John Keeley and George Soros

Director James E Young and Director Currey M Russell sold shares of RKT stock.

Exterran Partners L.P. (EXLP)

EXTERRAN PARTNERS, L.P. was formed by Exterran Holdings to provide natural gas contract operations services to customers throughout the United States. Exterran Partners L.p. has a market cap of $652.6 million; its shares were traded at around $23.86 with a P/E ratio of 217 and P/S ratio of 3.6. On October 29th the partnership increased its cash distribution to $0.4675/unit. The distribution is payable on November 12, 2010 to unit holders of record at the close of business on November 9, 2010. The yield based on the new payout is 7.91%.

Exterran Holdings reported a net loss attributable to Exterran stockholders for the third quarter 2010 of $18.0 million, or $0.29 per diluted share, compared to net income attributable to Exterran stockholders for the second quarter 2010 of $17.5 million, or $0.28 per diluted share, and net income attributable to Exterran stockholders for the third quarter 2009 of $18.2 million, or $0.30 per diluted share. Revenue was $625.6 million for the third quarter 2010, compared to $643.8 million for the second quarter 2010 and $679.7 million for the third quarter 2009.

10% Owner Holdings Inc. Exterran sold shares of EXPL stock.

Mercury General Corp. (MCY)

Mercury General Corp. is engaged primarily in writing all risk classifications of automobile insurance in a number of states, principallyCalifornia. Mercury General Corp. has a market cap of $2.39 billion; its shares were traded at around $43.59 with a P/E ratio of 14.9 and P/S ratio of 0.8. The dividend is payable on December 30, 2010 to shareholders of record on December 16, 2010. The ex-dividend date is December 14, 2010. MCY is a Dividend Achiever and has raised its dividend for 23 consecutive years. The yield based on the new payout is 5.6%.

Mercury General Corp. is owned by Richard Aster Jr., Robert Rodriguez, and Jean-Marie Eveillard.

Vice President Robert Houlihan, Corp.Secty - Vice President Judy A Walters, and Vice President Charles Toney

Cognex Corp. (CGNX)

Cognex Corp. designs, develops, manufactures, and markets machine visionsystems that are used to automate a wide range of manufacturing processes where vision is required. Cognex Corp. has a market cap of $1.12 billion; its shares were traded at around $28.33 with a P/E ratio of 27 and P/S ratio of 6.4. On November 1st the company increased its dividend 33% $0.08/share. This increase follows the 20% increase announced in May of 2010 when the company’s Board of Directors increased the dividend from $0.05 per share to $0.06 per share. The yield based on the new payout is 1.08%.

Cognex Corporation announced its financial results for the third quarter of 2010. Revenue, net income and net income per share for the quarter and nine months ended October 3, 2010 are compared to the second quarter of 2010 and the third quarter and first nine months of 2009.

Cognex Corp. is owned by James Barrow.

CEO Robert J Shillman, Sr. VP F&A, CFO Richard Morin, and Director Patrick Alias sold shares of CNGX stock.

Meadowbrook Insurance Group Inc. (MIG)

MEADOWBROOK INS GROUP INC, through its subsidiaries, is engaged primarily in developing and managing Alternative Market risk management programs for defined client groups and their members. Meadowbrook Insurance Group Inc. has a market cap of $515.2 million; its shares were traded at around $9.62 with a P/E ratio of 9.1 and P/S ratio of 0.8. On November 1st the company raises its quarterly dividend to $0.4/share. The yield based on the new payout is 1.70%

Meadowbrook Insurance Group, Inc. reported that third quarter 2010 net operating income, a non-GAAP measure, grew by 25.0% or $2.9 million to $14.6 million, or $0.27 per diluted share, compared to $11.7 million, or $0.20 per diluted share, in the third quarter of 2009. Net income increased 36.5% to $15.0 million, or $0.28 per diluted share, compared to $11.0 million, or $0.19 per diluted share, in the prior year quarter.

Meadowbrook Insurance Group Inc. is owned by John Keeley.

Director Merton J Segal sold shares of MIG stock.


Rating: 3.4/5 (7 votes)

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