Franklin Resources Inc. Grows Stock Holdings in Blue Owl Capital Co. (NYSE:OBDC)

Franklin Resources Inc. grew its stake in Blue Owl Capital Co. (NYSE:OBDC) by 11.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 742,041 shares of the company’s stock after purchasing an additional 74,959 shares during the period. Franklin Resources Inc. owned approximately 0.19% of Blue Owl Capital worth $11,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Advisors Asset Management Inc. grew its holdings in Blue Owl Capital by 16.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 334,775 shares of the company’s stock valued at $4,878,000 after buying an additional 48,136 shares in the last quarter. Legacy Capital Wealth Partners LLC boosted its position in shares of Blue Owl Capital by 96.8% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 209,617 shares of the company’s stock valued at $3,054,000 after acquiring an additional 103,123 shares during the last quarter. First National Trust Co grew its holdings in shares of Blue Owl Capital by 83.9% in the third quarter. First National Trust Co now owns 141,524 shares of the company’s stock valued at $2,062,000 after purchasing an additional 64,558 shares during the period. Van ECK Associates Corp increased its position in Blue Owl Capital by 4.9% during the third quarter. Van ECK Associates Corp now owns 7,472,128 shares of the company’s stock worth $112,754,000 after purchasing an additional 347,155 shares during the last quarter. Finally, Granite FO LLC purchased a new position in Blue Owl Capital during the second quarter worth about $1,226,000. Institutional investors and hedge funds own 42.83% of the company’s stock.

Blue Owl Capital Stock Up 0.2 %

Shares of NYSE OBDC opened at $15.19 on Friday. Blue Owl Capital Co. has a 52-week low of $13.98 and a 52-week high of $16.91. The business’s 50 day moving average is $15.09 and its two-hundred day moving average is $15.15. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 9.43 and a beta of 0.85. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.30.

Blue Owl Capital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.37 per share. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 9.74%. Blue Owl Capital’s dividend payout ratio is presently 91.93%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of Blue Owl Capital from $14.00 to $14.50 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price objective on shares of Blue Owl Capital in a research report on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and issued a $14.00 target price (down previously from $15.50) on shares of Blue Owl Capital in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Blue Owl Capital presently has a consensus rating of “Hold” and an average price target of $15.86.

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.