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Guru Stocks Raising Dividends: FLS, GNTX, GPC, ABT, STR

March 07, 2011 | About:

gurufocus

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Guru Stocks Raising Dividends: FLS, GNTX, GPC, ABT, STR

This is the group of companies who raised their dividend during the week: Flowserve Corp., Gentex Corp., Genuine Parts Company, Abbott Laboratories, Questar Corp.

Flowserve Corp. (FLS)

Flowserve Corporation is one of the world's providers of industrial flow management services. Flowserve Corp. has a market cap of $7.16 billion; its shares were traded at around $128.4 with a P/E ratio of 18.4 and P/S ratio of 1.77. On February 21st, the company increased its quarterly dividend 10.3% to $0.32/share. The dividend is payable on April 14, 2011, to shareholders of record as of the close of business on March 31, 2011. The yield based on the new payout is 1.1%.

Flowserve Corp. announced financial results for the full year and fourth quarter. Flowserve Corp reported operating income of $164.0 million, up 1.0%, including realignment charges of $8.1 million and a dilutive impact of the Valbart acquisition of $7.3 million.

George Soros, Mario Gabelli, and John Keeley own shares of FLS stock.

President & CEO Mark A Blinn, SVP Finance and Treasurer Dean P Freeman, and SVP Finance and CAO Richard J Guiltinan sold shares of FLS stock.

Gentex Corp. (GNTX)

Gentex Corporation is an international company that provides high-quality products to the worldwide automotive industry and North American fire protection market. Gentex Corp. has a market cap of $4.13 billion; its shares were traded at around $28.96 with a P/E ratio of 29.86 and P/S ratio of 5.05. On February 21st, the company increased its quarterly dividend 9% to $0.12/share. The dividend is payable April 21, 2011, to shareholders of record of the common stock at the close of business on April 7, 2011. The yield based on the new payout is 1.5%

Gentex Corporation reported all-time record results for the fourth quarter and calendar year ended December 31, 2010. For the fourth quarter of 2010, the Company's all-time record net sales increased by 25 percent to $222.1 million compared with $177.6 million in the fourth quarter of 2009. Income from operations increased by 17 percent to $50.6 million in the fourth quarter of 2010, compared with income from operations of $43.2 million in the fourth quarter last year, primarily due to the increased net sales.

PRIMECAP Managementm and James Barrow sold shares of GNTX stock.

Chairman of the Board & CEO Fred Bauer, Senior Vice President Enoch C Jen, and VP Finance & Treasurer Steven A Dykman sold shares of GNTX stock.

Genuine Parts Company (GPC)

GENUINE PARTS COMPANY is a distributor of automotive replacement parts in the U. Genuine Parts Company has a market cap of $8.31 billion; its shares were traded at around $52.73 with a P/E ratio of 17.64 and P/S ratio of 0.74. On February 21st, the company increased its quarterly dividend 10% to $0.45/share is payable April 1, 2011 to shareholders of record March 11, 2011. GPC has paid a cash dividend every year since going public in 1948, and 2011 marks the 55th consecutive year of increased dividends paid to shareholders. The yield based on the new payout is 3.4%.

Genuine Parts Company reported fourth quarter results and record sales and earnings per share for the year ended December 31, 2010. Net income for the year was $476 million, an increase of 19% compared to $400 million in 2009. Earnings per share on a diluted basis were$3.00, up 20% compared to $2.50 in 2009.

Joel Greenblatt and Mario Gabelli bought shares of GPC stock.

Abbott Laboratories (ABT)

Abbott Laboratories is a global, broad-based health care company devoted to discovering new medicines, new technologies and new ways to manage health. Abbott Laboratories has a market cap of $75.35 billion; its shares were traded at around $48.69 with a P/E ratio of 11.68 and P/S ratio of 2.14. On February 18th the company increased its quarterly dividend 9% to to $0.48/share. This marks the 39th consecutive year that Abbott has increased its dividend payout and the 349th consecutive quarterly dividend to be paid by Abbott since 1924. The dividend is payable May 16, 2011, to shareholders of record at the close of business on April 15, 2011. The yield based on the new payout is 4.1%.

Abbott announced financial results for the fourth quarter ended Dec. 31, 2010. Fourth quarter results included strong investment spending, with an increased level of R&D spending, as well as an adjusted gross margin ratio of 60.6 percent, which increased 230 basis points over the prior year. Fourth quarter results included strong investment spending, with an increased level of R&D spending, as well as an adjusted gross margin ratio of 60.6 percent, which increased 230 basis points over the prior year.

Joel Greenblatt, Kenneth Fisher, and Mario Gabelli own shares of ABT stock.

Director Phebe N Novakovic bought shares of ABT stock.

Senior Vice President Mary T Szela, Executive Vice President Laura J Schumacher, and Senior Vice President Carlos Alban sold shares of ABT stock.

Questar Corp. (STR)

Questar Corporation is a natural gas-focused energy company with five major lines of business - gas and oil exploration and production, midstream field services, energy marketing, interstate gas transportation, and retail gas distribution. Questar Corp. has a market cap of $3.08 billion; its shares were traded at around $17.42 with a P/E ratio of 12.01 and P/S ratio of 2.74. On February 18th the company increased its quarterly dividend 9% to $0.1525/share. The dividend is payable March 21, 2011 to shareholders of record on March 4, 2011. This is the company’s 265th consecutive quarterly dividend. Questar has increased its dividend 38 times in the last 39 years. The yield based on the new payout is 3.4%.

Questar Corporation reported 2010 income from continuing operations of $192.3 million or $1.08 per diluted share, including an after-tax $8.8 million or a $0.05 per diluted share charge for separation costs associated with the June 30, 2010, spinoff of QEP Resources, Inc. Net income from continuing operations grew 7% over 2009 net income from continuing operations of $180.5 million or $1.02 per diluted share.

George Soros owns shares of STR stock.

Director Laurence M Downes bought shares of STR stock.

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gurufocus
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