Advisors Capital Management LLC raised its stake in FS Investment Corp. (NYSE:FSIC) by 256.6% during the third quarter, according to its most recent filing with the SEC. The fund owned 62,656 shares of the company’s stock after buying an additional 45,088 shares during the period. Advisors Capital Management LLC’s holdings in FS Investment Corp. were worth $593,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Ausdal Financial Partners Inc. boosted its stake in FS Investment Corp. by 29.6% in the second quarter. Ausdal Financial Partners Inc. now owns 154,837 shares of the company’s stock valued at $1,401,000 after buying an additional 35,405 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in FS Investment Corp. by 4.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,508 shares of the company’s stock valued at $104,000 after buying an additional 498 shares during the last quarter. Confluence Investment Management LLC boosted its stake in FS Investment Corp. by 1.6% in the second quarter. Confluence Investment Management LLC now owns 414,406 shares of the company’s stock valued at $3,750,000 after buying an additional 6,489 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in FS Investment Corp. by 6.4% in the second quarter. Rehmann Capital Advisory Group now owns 297,658 shares of the company’s stock valued at $2,694,000 after buying an additional 17,918 shares during the last quarter. Finally, Bank of Montreal Can purchased a new stake in FS Investment Corp. during the second quarter valued at $31,603,000. 31.48% of the stock is currently owned by institutional investors.
Shares of FS Investment Corp. (NYSE:FSIC) traded up 2.48% during trading on Friday, reaching $10.35. 866,937 shares of the company were exchanged. The firm has a market capitalization of $2.52 billion, a PE ratio of 56.87 and a beta of 0.92. The company’s 50-day moving average is $9.55 and its 200 day moving average is $9.35. FS Investment Corp. has a 1-year low of $7.11 and a 1-year high of $10.35.
FS Investment Corp. (NYSE:FSIC) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.02. FS Investment Corp. had a return on equity of 9.68% and a net margin of 38.26%. Equities research analysts expect that FS Investment Corp. will post $1.22 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Wednesday, December 21st will be given a $0.2228 dividend. This represents a $0.89 dividend on an annualized basis and a yield of 8.61%. The ex-dividend date of this dividend is Monday, December 19th. FS Investment Corp.’s dividend payout ratio (DPR) is currently 130.88%.
A number of brokerages have recently commented on FSIC. Barclays PLC cut FS Investment Corp. from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $10.00 to $9.00 in a research report on Wednesday, September 7th. DA Davidson reissued a “buy” rating and issued a $10.00 price target on shares of FS Investment Corp. in a research report on Saturday, August 13th. TheStreet raised FS Investment Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 10th. JPMorgan Chase & Co. boosted their price target on FS Investment Corp. from $9.00 to $9.50 and gave the stock a “neutral” rating in a research report on Thursday, August 11th. Finally, Zacks Investment Research cut FS Investment Corp. from a “hold” rating to a “sell” rating in a research report on Friday, November 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $9.63.
FS Investment Corp. Company Profile
FS Investment Corporation is an externally managed, non-diversified, closed-end management investment company. The Company’s investment objectives are to generate current income and long-term capital appreciation. Its portfolio consists primarily of investments in senior secured loans and second lien secured loans of the private United States middle market companies and subordinated loans of the private United States companies.