Ex-Dividend Stocks: T. Rowe Price, SPX

NEW YORK ( TheStreet) -- The following stocks go ex-dividend Tuesday, meaning an investor must purchase the shares Monday to qualify for the next dividend payment: T. Rowe Price ( TROW), SPX ( SPW), Apollo Investment ( AINV), Mercury General ( MCY), MDU Resources Group ( MDU) and Omnicom Group ( OMC).

T. Rowe Price

The asset management company reported first-quarter net income on April 24 of $197.5 million, or 75 cents a share, up from year-earlier net income of $194.6 million, or 72 cents a share.

"Despite some capacity constraints from closing a few products over the past few years (Mid-Cap Equity and High Yield), T. Rowe continues to deliver healthy organic growth (9% in 1Q) due to its solid investment performance (88% of assets outperforming peers on a 5-yr basis), a broad product offering (equity, fixed income, domestic, global, and target date), and strong/diversified distribution with steady 401k flows and room for additional market share gains," Deutsche Bank analysts wrote in a May 31 report. "While 1Q benefitted from some lumpy institutional wins (VA, which we expect to moderate) and Schwab did not have a material impact, we still expect T. Rowe to continue to generate organic growth that outpaces the industry."

Forward Annual Dividend Yield: 2.5%

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SPX

The flow technology products company reported first-quarter earnings on May 2 of $13.5 million, or 26 cents a share, down from year-earlier earnings of $23.1 million, or 45 cents a share.

"In our view, the recent acquisition of ClydeUnion and the pending divestiture of its Service Solutions business for $1.15 billion are transformative events that should drive long-term shareholder value," Wedbush analysts wrote in a May 31 report. "In the near term, we believe SPX is likely to face some margin pressure as it digests its recent acquisition and works through lower volumes in its thermal equipment and services business."

Forward Annual Dividend Yield: 1.5%


Apollo Investment

The business development company is scheduled to report first-quarter earnings on July 31. Analysts, on average, anticipate earnings of 21 cents a share on revenue of $82.38 million.

"From our perspective, new management is executing well on repositioning the company and we reiterate our Outperform rating," Wells Fargo analysts wrote in a May 24 report. "Our FY2013 NII per share estimate is $0.84, down from $0.85, and we are establishing a FY2014 estimate of $0.85. We maintain our valuation range of $9.00-9.50 on the shares."

Forward Annual Dividend Yield: 11%

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Mercury General

The car insurance products company reported first-quarter net income on April 30 of $73.4 million, or $1.34 a share, up from year-earlier earnings of $58.2 million, or $1.06 a share.

"With top line now declining and the potential for further margin pressure due to rising claims severity and possible reserve additions, we believe Mercury will be hard-pressed to grow earnings over the next several years at its historical growth rate and its ROE should stay around 12 percent according to our model," Bank of America Merrill Lynch analysts wrote in an April 30 report. "The company's dividend yield provides downside support for the shares, but we believe upside is limited as well."

Forward Annual Dividend Yield: 5.7%


MDU Resources Group

The diversified natural resource company reported first-quarter earnings on April 30 of $35.6 million, or 19 cents a share, down from year-earlier earnings of $42.8 million, or 23 cents a share.

"MDU's wholly-owned Bitter Creek Pipelines, LLC has purchased a 50% interest in Whiting's recently-constructed gas processing plant and related assets in Belfield, Stark County, ND," D.A. Davidson analysts wrote in a May 22 report. "We believe the purchase will further diversify MDU into midstream gathering and fractionation of natural gas liquids for higher average realized prices of its Stark County production, and provide alternatives and opportunities for higher margin marketing of crude oil."

Forward Annual Dividend Yield: 3%

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Omnicom Group

The corporate communications services company reported first-quarter earnings on April 17 of $204.6 million, or 72 cents a share, up from year-earlier earnings of $201.9 million, or 69 cents a share.

"Profitability trends are also likely moving forward in a favorable manner across the industry," Pivotal Research Group wrote in an April 30 report. "During the first quarter, operating margins were up year-over-year by 50bps at IPG and by 80bps at OMC (the European-based holding companies do not provide full details on their quarterly earnings announcements). Overall this quarter's results reinforced our favorable view of the agencies, as we believe they are continuing to benefit from structural tailwinds. Marketers continually increase their reliance on agencies to manage an increasingly fragmented marketing universe, and organic growth trends should reflect this phenomena as we expect agency growth to outpace the broader media industry. As highlighted by the European results, this trend should see agencies increasingly divorced from macro-economic conditions, and should become increasingly less cyclical going forward."

Forward Annual Dividend Yield: 2.6%

-- Written by Alexandra Zendrian

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