Bank of New York Mellon Corp Buys 11,041 Shares of Blue Owl Capital Co. (NYSE:OBDC)

Bank of New York Mellon Corp grew its stake in Blue Owl Capital Co. (NYSE:OBDC) by 37.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,313 shares of the company’s stock after purchasing an additional 11,041 shares during the quarter. Bank of New York Mellon Corp’s holdings in Blue Owl Capital were worth $619,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Gilbert & Cook Inc. acquired a new stake in Blue Owl Capital during the fourth quarter worth approximately $2,644,000. Brown Advisory Inc. acquired a new stake in Blue Owl Capital during the 4th quarter worth approximately $387,000. PNC Financial Services Group Inc. bought a new stake in Blue Owl Capital in the 4th quarter valued at $684,000. UBS Group AG acquired a new position in Blue Owl Capital in the 4th quarter valued at $8,978,000. Finally, Wells Fargo & Company MN acquired a new position in Blue Owl Capital in the 4th quarter valued at $11,877,000. Institutional investors and hedge funds own 42.83% of the company’s stock.

Blue Owl Capital Stock Performance

Shares of OBDC stock opened at $14.95 on Tuesday. Blue Owl Capital Co. has a fifty-two week low of $12.99 and a fifty-two week high of $16.91. The stock’s fifty day moving average price is $14.93 and its two-hundred day moving average price is $15.51. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $5.83 billion, a PE ratio of 7.55 and a beta of 0.87.

Blue Owl Capital (NYSE:OBDC) last released its earnings results on Wednesday, August 7th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. The firm had revenue of $396.76 million for the quarter, compared to analysts’ expectations of $388.84 million. Blue Owl Capital had a return on equity of 12.66% and a net margin of 43.61%. Equities analysts predict that Blue Owl Capital Co. will post 1.93 EPS for the current fiscal year.

Blue Owl Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.06 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.24 dividend on an annualized basis and a yield of 1.61%. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.05. Blue Owl Capital’s dividend payout ratio (DPR) is currently 74.75%.

Insiders Place Their Bets

In other news, Director Edward H. Dalelio purchased 2,500 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average cost of $15.02 per share, with a total value of $37,550.00. Following the completion of the purchase, the director now owns 9,016 shares of the company’s stock, valued at approximately $135,420.32. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

OBDC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reduced their target price on shares of Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating for the company in a research report on Tuesday, August 20th. Wells Fargo & Company lowered their target price on shares of Blue Owl Capital from $15.50 to $14.00 and set an “underweight” rating on the stock in a report on Friday, August 9th. Compass Point upgraded shares of Blue Owl Capital to a “strong-buy” rating in a research report on Monday, August 19th. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 price target on shares of Blue Owl Capital in a research report on Monday, August 12th. Finally, Raymond James cut Blue Owl Capital from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.94.

About Blue Owl Capital

Blue Owl Capital Corporation is a business development company. It specializes in direct and fund of fund investments. The fund makes investments in senior secured, direct lending or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments, first lien, unitranche, and second lien term loans and common equity investments.