OFS Capital Co. (NASDAQ:OFS – Get Rating) announced a quarterly dividend on Monday, May 9th, Wall Street Journal reports. Investors of record on Thursday, June 23rd will be paid a dividend of 0.29 per share by the investment management company on Thursday, June 30th. This represents a $1.16 dividend on an annualized basis and a yield of 9.81%. The ex-dividend date of this dividend is Wednesday, June 22nd. This is a positive change from OFS Capital’s previous quarterly dividend of $0.28.
OFS Capital has decreased its dividend payment by an average of 19.3% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. OFS Capital has a dividend payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect OFS Capital to earn $1.12 per share next year, which means the company may not be able to cover its $1.12 annual dividend with an expected future payout ratio of 100.0%.
Shares of NASDAQ:OFS opened at $11.82 on Tuesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market cap of $158.68 million, a PE ratio of 2.60 and a beta of 1.75. OFS Capital has a 52 week low of $8.77 and a 52 week high of $13.47. The firm has a 50 day simple moving average of $12.18 and a 200 day simple moving average of $11.19.
Several brokerages recently commented on OFS. Zacks Investment Research downgraded shares of OFS Capital from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. StockNews.com began coverage on shares of OFS Capital in a research report on Thursday, March 31st. They issued a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $11.50.
Several institutional investors have recently added to or reduced their stakes in OFS. Advisor Group Holdings Inc. raised its holdings in shares of OFS Capital by 122.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 8,405 shares of the investment management company’s stock valued at $110,000 after purchasing an additional 4,625 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of OFS Capital by 41.6% during the 4th quarter. Wells Fargo & Company MN now owns 10,897 shares of the investment management company’s stock valued at $119,000 after purchasing an additional 3,201 shares in the last quarter. Millennium Management LLC raised its holdings in shares of OFS Capital by 110.4% during the 3rd quarter. Millennium Management LLC now owns 27,944 shares of the investment management company’s stock valued at $289,000 after purchasing an additional 14,662 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of OFS Capital by 7.7% during the 2nd quarter. Morgan Stanley now owns 452,464 shares of the investment management company’s stock valued at $4,507,000 after purchasing an additional 32,499 shares in the last quarter. Institutional investors and hedge funds own 11.24% of the company’s stock.
OFS Capital Company Profile (Get Rating)
OFS Capital Corporation is a business development company specializing in direct and fund investments as well as add-on acquisitions. It provides flexible capital solutions primarily through debt capital and to a lesser extent, minority equity investments serving the needs of U.S.-based middle-market companies across a broad array of industries.
- Get a free copy of the StockNews.com research report on OFS Capital (OFS)
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