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Guru Stocks Raising Dividends: DOV, CSL, MAIN, FDP, JMP

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gurujk

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This is the group of companies who raised their dividend during the week: Dover Corp. (DOV), Carlisle Cos. (CSL), Main Street Capital (MAIN), Fresh Del Monte Produce (FDP) and JMP Group (JMP).

Dover Corp. (DOV) Dover Corporation is a worldwide, diversified manufacturer of industrial products. Dover Corp. has a market cap of $10.29 billion; its shares were traded at around $55.17 with a P/E ratio of 13.7 and P/S ratio of 1.4. On August 4 the company increased its quarterly dividend 14.5% to $0.315 per share. The dividend is payable on Sept. 15, 2011, to shareholders of record as of Aug. 31, 2011. The yield based on the new payout is 2.0%. Dover noted that this is the 56th consecutive year in which the company has paid an increased cash dividend, giving it the fourth longest record of consecutive annual dividend increases of all listed companies. The yield based on the new payout is 2.3%.

Dover Corporation announced that for the second quarter ended June 30, 2011, revenue was $2.2 billion, an increase of 21% over the prior-year period. Earnings from continuing operations were $249.1 million or $1.31 diluted earnings per share ("EPS"), compared to $171.9 million or $0.91 EPS from continuing operations in the prior-year period, representing increases of 45% and 44%, respectively.

Joel Greenblatt, Kenneth Fisher, and John Keeley own shares of DOV stock.

Controller Raymond T. Mckay bought shares of DOV stock.

Director Kristiane C. Graham and Director Michael B. Stubbs sold shares of DOV stock.

Carlisle Cos. (CSL)

Carlisle Companies Incorporated manufactures and distributes a wide variety of products across a broad range of industries, including, among others, roofing, construction, trucking, automotive, foodservice, industrial equipment, lawn and garden and aircraft manufacturing. Carlisle Cos. has a market cap of $2.24 billion; its shares were traded at around $36.6 with a P/E ratio of 13.7 and P/S ratio of 0.9. On August 4 the company increased its quarterly dividend 6% to $0.18 per share. The dividend is payable on Sept. 1, 2011 to shareholders of record at the close of business on Aug. 17, 2011. This marks the 35th consecutive year of dividend increases for Carlisle shareholders. The yield based on the new payout is 2.0%.

Carlisle Companies Incorporated reported net sales from continuing operations of $870.8 million for the quarter ended June 30, 2011, a 27% increase from net sales of $687.6 million in the second quarter of 2010. Income from continuing operations increased 43% to $55.3 million, or $0.87 per diluted share, in the second quarter 2011 compared with $38.8 million, or $0.62 per diluted share, in the second quarter of 2010.

Vice President & CFO Steven J. Ford, President & CFSP David M. Shannon, and President, CCM John W. Altmeyer sold shares of CSL stock.

Main Street Capital (MAIN)

Main Street Capital Corporation is a specialty investment company providing customized financing solutions to lower middle market companies which operate in diverse industry sectors. Main Street Capital has a market cap of $404.8 million; its shares were traded at around $17.64 with a P/E ratio of 13.5 and P/S ratio of 11.1. On August 4 the company increased its monthly dividend 8% to $0.135 per share. The dividend is payable Oct. 14 2011 to shareholder of record on Sept. 21, 2011. The yield based on the new payout is 9.0%.

Main Street Capital Corporation announced its financial results for the second quarter ended June 30, 2011. Results included a distributable net realized income of $10.3 million (or $0.44 per share), representing a 34% increase from second quarter.

CEO Vincent D. Foster, President and CFO Todd A. Reppert, and Director Michael Appling Jr. bought shares of MAIN stock.

Fresh Del Monte Produce (FDP)

Fresh Del Monte Produce Inc. is a world leader in the production, distribution and marketing of fresh produce. Fresh Del Monte Produce has a market cap of $1.33 billion; its shares were traded at around $22.54 with a P/E ratio of 10.6 and P/S ratio of 0.4. On August 3 the company increased its quarterly dividend 100% to $0.05 per share. The dividend is payable on Sept. 9, 2011 to shareholders of record on Aug. 17, 2011. The yield based on the new payout is 1.7%.

Fresh Del Monte Produce Inc. reported financial results for the quarter ended July 1, 2011. The company reported earnings per diluted share of $0.59 in the second quarter of 2011, compared with earnings per diluted share of $0.34 in the second quarter of 2010. Excluding asset impairment and other charges, the company reported earnings per diluted share of $0.77 for the second quarter of 2011 compared with earnings per diluted share of $0.85 in the second quarter of 2010. Net sales for the second quarter of 2011 increased $39.7 million to $1.04 billion, compared with $1.00 billion in the prior year's second quarter.

George Soros, Joel Greenblatt, and Charles Brandes owns shares of FDP stock.

JMP Group Inc. (JMP)

JMP Group Inc. is a full-service investment banking and asset management firm that provides investment banking, sales and trading and equity research services to corporate and institutional clients and alternative asset management products to institutional and high-net-worth investors. JMP Group Inc. has a market cap of $153.8 million; its shares were traded at around $6.96 with a P/E ratio of 8 and P/S ratio of 1.1. On August 3 the company increased its quarterly dividend payment 20% to $0.03 per share. The dividend is payable on Friday, Sept. 2, 2011 to common stockholders of record as of Friday, August 19, 2011. The yield based on the new payout is 1.7%.

JMP Group Inc. reported financial results for the quarter and six months ended June 30, 2011. Total net revenues were $31.5 million for the quarter, compared to $42.8 million for the second quarter of 2010. For the six months ended June 30, 2011, total net revenues were a record $74.4 million, an increase of 9.3% from $68.1 million for the six months ended June 30, 2010. Net income attributable to JMP Group was $1.5 million, or $0.07 per diluted share, for the quarter, compared to $2.2 million, or $0.10 per diluted share, for the second quarter of 2010. For the six months ended June 30, 2011, net income attributable to JMP Group was a record $5.1 million, or $0.22 per diluted share, an increase of 28.5% from $3.9 million, or $0.18 per diluted share, for the six months ended June 30, 2010.

John Keeley owns shares of JMP stock.

Director David M. Dipietro, Vice Chairman, Chairman Harvest Cap Craig R. Johnson, and Director Kenneth M. Karmin bought shares of JMP stock.

Rating: 3.2/5 (9 votes)

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