Capital Southwest Co. (NASDAQ:CSWC – Get Rating) announced a quarterly dividend on Tuesday, September 20th, Zacks reports. Shareholders of record on Thursday, December 15th will be paid a dividend of 0.52 per share by the asset manager on Friday, December 30th. This represents a $2.08 annualized dividend and a yield of 11.22%. The ex-dividend date of this dividend is Wednesday, December 14th. This is a positive change from Capital Southwest’s previous quarterly dividend of $0.50.
Capital Southwest has raised its dividend by an average of 7.3% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Capital Southwest has a payout ratio of 90.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Capital Southwest to earn $2.22 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 90.1%.
Capital Southwest Stock Performance
Shares of NASDAQ:CSWC opened at $18.54 on Thursday. The firm has a market cap of $510.41 million, a PE ratio of 14.48 and a beta of 1.14. The firm’s 50 day simple moving average is $19.63 and its 200-day simple moving average is $21.19. Capital Southwest has a one year low of $17.60 and a one year high of $28.41. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the stock. Raymond James cut their price objective on shares of Capital Southwest from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, August 3rd. JMP Securities cut their price objective on shares of Capital Southwest from $27.00 to $25.00 and set a “market outperform” rating on the stock in a report on Wednesday, August 3rd. Finally, B. Riley assumed coverage on shares of Capital Southwest in a report on Friday, September 16th. They set a “neutral” rating and a $18.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Capital Southwest has an average rating of “Hold” and an average price target of $22.00.
Institutional Investors Weigh In On Capital Southwest
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC lifted its stake in shares of Capital Southwest by 420.5% during the second quarter. Millennium Management LLC now owns 755,686 shares of the asset manager’s stock worth $13,920,000 after buying an additional 610,502 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Capital Southwest by 5.7% during the first quarter. Advisors Asset Management Inc. now owns 196,419 shares of the asset manager’s stock worth $4,661,000 after buying an additional 10,650 shares during the period. Legal & General Group Plc lifted its position in Capital Southwest by 9.6% during the second quarter. Legal & General Group Plc now owns 140,274 shares of the asset manager’s stock valued at $2,584,000 after purchasing an additional 12,273 shares during the period. Goldman Sachs Group Inc. acquired a new position in Capital Southwest during the second quarter valued at $1,744,000. Finally, LPL Financial LLC lifted its position in Capital Southwest by 58.8% during the second quarter. LPL Financial LLC now owns 85,384 shares of the asset manager’s stock valued at $1,573,000 after purchasing an additional 31,601 shares during the period. 27.83% of the stock is currently owned by institutional investors and hedge funds.
Capital Southwest Company Profile
Capital Southwest Corporation is a business development company specializing in credit and private equity and venture capital investments in middle market companies, mezzanine, later stage, mature, late venture, emerging growth, buyouts, recapitalizations and growth capital investments. It does not invest in startups, publicly traded companies, real estate developments, project finance opportunities, oil and gas exploration businesses, troubled companies, turnarounds, and companies in which significant senior management is departing.
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