PNC Financial Services Group Inc. maintained its stake in Stellus Capital Investment Corp (NYSE:SCM) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,000 shares of the investment management company’s stock at the end of the first quarter. PNC Financial Services Group Inc. owned approximately 0.20% of Stellus Capital Investment Corp worth $364,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Two Sigma Investments LP increased its stake in Stellus Capital Investment Corp by 14.4% in the fourth quarter. Two Sigma Investments LP now owns 65,773 shares of the investment management company’s stock valued at $793,000 after buying an additional 8,289 shares during the last quarter. Sanders Morris Harris Inc. purchased a new position in shares of Stellus Capital Investment Corp during the first quarter valued at about $197,000. Waldron LP purchased a new position in shares of Stellus Capital Investment Corp during the first quarter valued at about $218,000. Janney Montgomery Scott LLC boosted its position in shares of Stellus Capital Investment Corp by 6.7% in the first quarter. Janney Montgomery Scott LLC now owns 15,842 shares of the investment management company’s stock valued at $231,000 after buying an additional 988 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Stellus Capital Investment Corp by 15,872.9% in the first quarter. Wells Fargo & Company MN now owns 70,760 shares of the investment management company’s stock worth $1,030,000 after buying an additional 70,317 shares during the last quarter. Institutional investors own 23.95% of the company’s stock.
Shares of Stellus Capital Investment Corp (SCM) traded down 0.44% during midday trading on Tuesday, hitting $13.61. The company’s stock had a trading volume of 49,011 shares. The firm has a 50-day moving average of $13.63 and a 200 day moving average of $13.89. Stellus Capital Investment Corp has a 12-month low of $10.22 and a 12-month high of $14.82.
Stellus Capital Investment Corp (NYSE:SCM) last issued its earnings results on Thursday, August 3rd. The investment management company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. Stellus Capital Investment Corp had a net margin of 58.15% and a return on equity of 12.46%. The firm had revenue of $10.39 million for the quarter, compared to analysts’ expectations of $9.99 million. Equities research analysts anticipate that Stellus Capital Investment Corp will post $1.29 earnings per share for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a $0.1133 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.36 dividend on an annualized basis and a yield of 9.99%. Stellus Capital Investment Corp’s dividend payout ratio is currently 64.15%.
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A number of research firms have recently weighed in on SCM. ValuEngine raised Stellus Capital Investment Corp from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Zacks Investment Research downgraded Stellus Capital Investment Corp from a “hold” rating to a “sell” rating in a research note on Saturday, May 13th. Keefe, Bruyette & Woods set a $15.00 price objective on Stellus Capital Investment Corp and gave the stock a “hold” rating in a research note on Wednesday, May 31st. Finally, Raymond James Financial, Inc. raised Stellus Capital Investment Corp from a “market perform” rating to an “outperform” rating and set a $15.00 target price on the stock in a research report on Monday, April 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $13.75.
In other news, insider Robert T. Ladd purchased 7,400 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were bought at an average price of $13.22 per share, for a total transaction of $97,828.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dean D’angelo purchased 6,500 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was purchased at an average price of $13.35 per share, for a total transaction of $86,775.00. The disclosure for this purchase can be found here. Insiders acquired 35,400 shares of company stock worth $473,738 in the last three months. 4.20% of the stock is currently owned by corporate insiders.
About Stellus Capital Investment Corp
Stellus Capital Investment Corporation is a closed-end, non-diversified management investment company. The Company originates and invests primarily in private middle-market companies through first lien, second lien, unitranche and mezzanine debt financing, with corresponding equity co-investments. The Company’s investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation.
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