Ex-Dividend Stocks: Allegheny Tech, Sun Life Financial

NEW YORK ( TheStreet) -- The following stocks go ex-dividend Friday, meaning an investor must purchase the shares Thursday to qualify for the next dividend payment: Allegheny Technologies ( ATI), Barnes Group ( B), CNOOC ( CEO), Great Plains Energy ( GXP), Everest Re ( RE) and Sun Life Financial ( SLF).

Allegheny Technologies

The specialty metals producer reported on April 25 first-quarter earnings of $56.2 million, or 50 cents a share, down from year-earlier earnings of $56.3 million, or 54 cents.

"We remain encouraged by catalysts for better earnings including: full integrationof Ladish, stainless steel restocking, fewer facility startup costs, Rowley titaniumsponge plant cost benefits, Boeing titanium restocking, and continued growth inkey end markets," Bank of America Merrill Lynch analysts wrote in a May 16 report.

Forward Annual Dividend Yield: 2.2%

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Barnes Group

The logistical services company reported on April 27 first-quarter net income of $22.2 million, or 40 cents a share, up from year-earlier earnings of $19.1 million, or 34 cents.

"B's 1Q12 earnings were modestly below consensus on revenue growth below the full-year guidance, but we note results close to expected trend despite a breadth of easily understood timing factors," Oppenheimer analysts wrote in an April 30 report. "The quarter saw a slower start for Aero OE (can be lumpy, but solid 1.17 b:b) and European Manufacturing (but ~105%+ b:b), and Aero AM spares were impacted by 4Q11 pull forwards (2Q sequential improvement expected). Full-year OM guidance of ~12% compares to 10.9% in 1Q, supported by improving sales mix (Aero AM spares, European manufacturing including NPIs), seasonally stronger 2Q/3Q volumes (supported by backlog), and diminishing manufacturing outsourcing. European-based demand remains a risk, but we note some export orientation and current trends consistent with expectations."

Forward Annual Dividend Yield: 1.7%


Great Plains Energy

The electricity company reported on May 3 a first-quarter loss of $9.5 million, or 7 cents a share, a reversal from year-earlier earnings of $2 million, or 1 cent a share.

"Our 12-18 month price target of $20.50 equates to ~15x the average of our 2012 and 2013 EPS estimates," D.A. Davidson analysts wrote in a May 7 report. "We continue to believe Great Plains had significant potential to grow earnings over the long term, but that a discounted valuation is justified until we see more tangible evidence of a shift in Missouri's relatively challenging regulatory backdrop."

Forward Annual Dividend Yield: 4.2%

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Everest Re

The insurance underwriter reported on April 25 first-quarter earnings of $304.7 million, or $5.68 a share, a swing from year-earlier loss of $315.9 million, or $5.81 a share.

"We are taking our 2012 EPS estimate to $13.95 from $11.40, and our 2013 EPSestimate to $12.95 from $11.60," Deutsche Bank analysts wrote in an April 27 report. "We are modestly more optimistic about Everest Re's opportunities in the reinsurance market, and are raising our target price to $110 from $99. Buy."

Forward Annual Dividend Yield: 1.9%


Sun Life Financial

The financial services company reported first-quarter earnings on May 10 of $686 million, or $1.24 a share, a reversal from a year-earlier loss of $525 million, or 38 cents a share.

"Media has speculated that Sun Life plans to sell its U.K. life insurance unit (in run-off since 2010) to avoid potentially tougher new capital requirements for European insurers when the proposed Solvency II capital regime for insurers takes effect in 2014," BMO Capital Markets analysts wrote in a May 16 report. The analysts added, "A potential sale at the speculated price of $1.6 billion (we estimate about 1.5x BV), would hurt annual EPS by $0.20-0.25, provide a one-time EPS gain of about $0.67, and immediately increase SLA's MCCSR by about three points. We believe the move would avoid having 'trapped capital' in the U.K. under a Solvency II regime. The U.K. unit is non-core, and while it releases capital as it unwinds (this capital has been repatriated to Canada to help pay SLF's dividend and fund other corporate initiatives), the pace at which this capital unwinds could be significantly diminished under Solvency II. Hence, SLF could be exploring selling its U.K. business."

Forward Annual Dividend Yield: 6.8%

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-- Written by Alexandra Zendrian

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