Capital Southwest Co. (NASDAQ:CSWC – Get Rating) shares were up 4.6% during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as $18.75 and last traded at $18.75. Approximately 2,697 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 183,167 shares. The stock had previously closed at $17.93.
The newly announced dividend which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be given a dividend of $0.52 per share. The ex-dividend date is Wednesday, December 14th. This is an increase from Capital Southwest’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 11.72%. Capital Southwest’s payout ratio is currently 156.25%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the company. Raymond James decreased their target price on Capital Southwest from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Wednesday, August 3rd. JMP Securities decreased their target price on Capital Southwest from $27.00 to $25.00 and set a “market outperform” rating for the company in a research note on Wednesday, August 3rd. Finally, B. Riley started coverage on Capital Southwest in a research note on Friday, September 16th. They set a “neutral” rating and a $18.00 target price for the company. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Capital Southwest currently has an average rating of “Hold” and a consensus target price of $22.00.
Capital Southwest Stock Performance
Capital Southwest (NASDAQ:CSWC – Get Rating) last announced its quarterly earnings data on Monday, August 1st. The asset manager reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Capital Southwest had a return on equity of 11.22% and a net margin of 35.02%. The firm had revenue of $22.54 million for the quarter, compared to analyst estimates of $22.36 million. On average, analysts expect that Capital Southwest Co. will post 2.09 earnings per share for the current fiscal year.
Institutional Trading of Capital Southwest
Several large investors have recently bought and sold shares of the company. Millennium Management LLC grew its holdings in Capital Southwest by 420.5% in the second quarter. Millennium Management LLC now owns 755,686 shares of the asset manager’s stock valued at $13,920,000 after purchasing an additional 610,502 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Capital Southwest by 56.4% in the first quarter. Van ECK Associates Corp now owns 592,968 shares of the asset manager’s stock valued at $14,071,000 after acquiring an additional 213,942 shares in the last quarter. Sound Income Strategies LLC lifted its position in shares of Capital Southwest by 2.2% in the second quarter. Sound Income Strategies LLC now owns 382,212 shares of the asset manager’s stock valued at $7,040,000 after acquiring an additional 8,410 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Capital Southwest by 5.7% in the first quarter. Advisors Asset Management Inc. now owns 196,419 shares of the asset manager’s stock valued at $4,661,000 after acquiring an additional 10,650 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Capital Southwest by 9.6% in the second quarter. Legal & General Group Plc now owns 140,274 shares of the asset manager’s stock valued at $2,584,000 after acquiring an additional 12,273 shares in the last quarter. Institutional investors and hedge funds own 27.83% of the company’s stock.
About Capital Southwest
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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