GuruFocus Premium Membership

Serving Intelligent Investors since 2004. Only 96 cents a day.

Free Trial

Free 7-day Trial
All Articles and Columns »

Guru Stocks Raising Dividends: HCII, FCX, STEI, CRWS, HBNC

April 02, 2012 | About:
insider

GuruFocus

332 followers
This is the group of companies who raised their dividend during the week: Homeowners Choice, Freeport-McMoRan, Stewart Enterprises Inc., Crown Crafts Inc. and Horizon Bancorp.

Homeowners Choice (HCII)

Homeowners Choice is a Florida-based insurance holding company, headquartered in Clearwater, Fla. Homeowners Choice has a market cap of $78.76 million; its shares were traded at around $12.7 with a P/E ratio of 9.92 and P/S ratio of 0.83. On March 28th the company increased its quarterly dividend 33% to $0.20 per share. The dividend is payable June 15, 2012 to shareholders of record on the close of business May 17, 2012. The yield based on the new payout is 6.6%.

Homeowners Choice announced its results of operations for the three months and year ended Dec. 31, 2011. Income available to common stockholders for the fourth quarter of 2011 was $4.6 million, or $0.62 per diluted share, compared with $1.8 million, or $0.27 per diluted share, for the fourth quarter of 2010. For the year ended Dec. 31, 2011, income available to common stockholders was $9.1 million, or $1.34 per diluted share, compared with $5.4 million, or $0.81 per diluted share, for the year ended Dec. 31, 2010. Results for 2011 included a bargain purchase gain of $936,000 ($575,000 net of tax), or $0.08 per diluted share.

Freeport-McMoRan Cop-b (FCX)

Freeport-McMoRan is engaged in mineral exploration and development, mining and milling of copper, gold, and silver in Indonesia, and the smelting and refining of copper concentrates in Spain and Indonesia. Freeport-McMoRan Cop-b has a market cap of $36.04 billion; its shares were traded at around $38.04 with a P/E ratio of 7.88 and P/S ratio of 1.73. On March 28th the company increased its quarterly dividend 25% to to $0.3125 per share. The dividend is payable payable May 1, 2012 to holders of record as of April 13, 2012 for its common stock. The yield based on the new payout is 3.4%.

Freeport McMoRan Cop-b reported fourth-quarter 2011 net income attributable to common stock of $640 million, $0.67 per share, compared with $1.5 billion, $1.63per share, for fourth-quarter 2010. For the year 2011, FCX reported net income attributable to common stock of $4.6 billion, $4.78 per share, compared with $4.3 billion, $4.57 per share, for the year 2010.

Chris Davis, Joel Greenblatt, and Robert Olstein own shares of FCX stock.

President and CEO Richard C. Adkerson, Director Jon C. Madonna, and Chairman of the Board James R. Moffett sold shares of FCX stock.

Stewart Enterprises Inc. (STEI)

Stewart Enterprises Inc. is a provider of products and services in the death care industry in North America. Stewart Enterprises Inc. has a market cap of $527.01 million; its shares were traded at around $6.07 with a P/E ratio of 16.86 and P/S ratio of 1.03. On March 27th the company in creased its annual dividend 14% to $0.16 per share. The dividend is payable April 26, 2012 to holders of record as of the close of business on April 12, 2012. The yield based on the new payout is 2.6%.

Stewart Enterprises Inc. reported its results for the fourth quarter and fiscal year ended October 31, 2011. For the quarter ended Oct. 31, 2011, the company reported net earnings from continuing operations of $8.5 million, or $.10 per diluted share, compared to net earnings from continuing operations of $8.7 million, or $.09 per diluted share, for the quarter ended Oct. 31, 2010. The company reported net earnings from continuing operations for fiscal year 2011 of $38.6 million, or $.42 per diluted share, compared to net earnings from continuing operations of $30.6 million, or $.33 per diluted share, for fiscal year 2010.

Joel Greenblatt owns shares as of STEI stock.

CEO Thomas M. Kitchen, Vice President of Marketing Philip G. Sprick, and Senior Vice President of Corporate and Investor Relations Laureal Martin De bought shares of STEI stock.

Crown Crafts (CRWS)

Crown Crafts Inc. operates, both directly and indirectly through its subsidiaries, in two principal business segments within the textile industry: Adult Home Furnishing and Juvenile Products, and Infant Products. Crown Crafts has a market cap of $51.67 million; its shares were traded at around $5.35 with a P/E ratio of 10.7 and P/S ratio of 0.57. On March 26, the company increased its quarterly dividend 100% to $0.08 per share. The dividend is payable July 6, 2012 to stockholders of record at the close of business on June 15, 2012. The yield based on the new payout is 7.4%.

Crown Crafts Inc. reported the company's operating results for the fiscal 2012 third quarter, which ended January 1, 2012. Net income for the third quarter of fiscal 2012 was up 99.7% to $1.5 million, or $0.16 per diluted share, on essentially flat net sales of $21.6 million, which compares to net income of $775,000, or $0.08 per diluted share, on net sales of $21.9 million for the third quarter of fiscal 2011.

John Rogers owns shares of CRWS stock.

Horizon Bancorp (HBNC)

Horizon Bancorp is a bank holding company. Through subsidiaries, they are engaged as a full-service commercial bank offering a broad range of commercial and retail banking services, corporate and individual trust and agency services, commercial and personal property and casualty insurance services and other services incident to banking. Horizon Bancorp has a market cap of $91.89 million; its shares were traded at around $18.5 with a P/E ratio of 8.19 and P/S ratio of 1.08. On March 23, the company increased its quarterly dividend 8.3% to $0.13 per share. The dividend is payable April 20, 2012 to shareholders of record on April 6, 2012. The yield based on the new payout is 2.9%.

Horizon Bancorp announced its unaudited financial results for the three-month period ended March 31, 2011. Horizon's first quarter 2011 net income was $2.8 million or $.74 diluted earnings per share, a 54.4% increase in net income from the same period in 2010 and the highest first quarter net income in the company's history. Total deposits grew to over $1.0 billion at March 31, 2011, a $15.9 million increase from Dec. 31, 2010.

Director Daniel F. Hopp, Corporate Secretary James D. Neff, and Director Peter L. Pairitz bought shares of HBNC stock.

About the author:

GuruFocus
GuruFocus - Stock Picks and Market Insight of Gurus

Rating: 2.3/5 (9 votes)

Comments

Please leave your comment:


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK
Email Hide