Strs Ohio Grows Stake in Golub Capital BDC, Inc. $GBDC

Key Points

• Strs Ohio increased its stake in Golub Capital BDC by 2.9% to 16,704,760 shares (about 6.34% of the company), worth roughly $226.7 million and making GBDC its 15th-largest holding.
• Golub Capital BDC paid a quarterly dividend of $0.33 (annualized $1.32), implying a 9.6% yield and a payout ratio of 105.6%, signaling pressure on dividend sustainability.
• The firm reported Q earnings of $0.38 per share (in line with estimates) but revenue of $110.2 million materially missed expectations; analysts have an average rating of Buy with a $14.50 price target.

Strs Ohio grew its holdings in Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 16,704,760 shares of the investment management company's stock after acquiring an additional 466,978 shares during the quarter. Golub Capital BDC comprises 0.8% of Strs Ohio's investment portfolio, making the stock its 15th biggest holding. Strs Ohio owned about 6.34% of Golub Capital BDC worth $226,684,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Comprehensive Money Management Services LLC increased its holdings in shares of Golub Capital BDC by 7.8% in the 3rd quarter. Comprehensive Money Management Services LLC now owns 12,500 shares of the investment management company's stock valued at $171,000 after acquiring an additional 900 shares during the last quarter. Colton Groome Financial Advisors LLC increased its holdings in shares of Golub Capital BDC by 9.0% in the 3rd quarter. Colton Groome Financial Advisors LLC now owns 11,078 shares of the investment management company's stock valued at $152,000 after acquiring an additional 913 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Golub Capital BDC by 5.6% in the 3rd quarter. Truist Financial Corp now owns 19,603 shares of the investment management company's stock valued at $268,000 after acquiring an additional 1,035 shares during the last quarter. Keel Point LLC increased its holdings in shares of Golub Capital BDC by 2.7% in the 2nd quarter. Keel Point LLC now owns 39,845 shares of the investment management company's stock valued at $584,000 after acquiring an additional 1,039 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Golub Capital BDC by 2.4% in the 3rd quarter. Geneos Wealth Management Inc. now owns 45,085 shares of the investment management company's stock valued at $617,000 after acquiring an additional 1,049 shares during the last quarter. Hedge funds and other institutional investors own 42.38% of the company's stock.

Golub Capital BDC Stock Up 0.7%

Shares of NASDAQ GBDC opened at $13.80 on Friday. The stock has a market cap of $3.63 billion, a PE ratio of 11.04 and a beta of 0.41. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 1.25. Golub Capital BDC, Inc. has a 52-week low of $11.77 and a 52-week high of $15.63. The business has a 50-day moving average price of $12.66 and a 200 day moving average price of $13.30.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last announced its earnings results on Wednesday, February 4th. The investment management company reported $0.38 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.38. The firm had revenue of $110.18 million during the quarter, compared to analysts' expectations of $208.89 million. Golub Capital BDC had a return on equity of 10.37% and a net margin of 38.57%.During the same period in the prior year, the firm earned $0.42 EPS. Equities research analysts forecast that Golub Capital BDC, Inc. will post 1.44 earnings per share for the current year.

Golub Capital BDC Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Friday, March 13th were given a $0.33 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 9.6%. Golub Capital BDC's dividend payout ratio is 105.60%.

Analyst Ratings Changes

A number of research firms have recently commented on GBDC. Royal Bank Of Canada began coverage on Golub Capital BDC in a report on Friday, April 17th. They issued an "outperform" rating and a $15.00 price objective on the stock. Wall Street Zen downgraded Golub Capital BDC from a "hold" rating to a "sell" rating in a report on Sunday, April 19th. Lucid Cap Mkts upgraded Golub Capital BDC to a "strong-buy" rating in a report on Thursday, January 15th. Capital One Financial set a $15.00 target price on Golub Capital BDC in a research report on Thursday, January 15th. Finally, Wells Fargo & Company decreased their target price on Golub Capital BDC from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $14.50.

Golub Capital BDC Company Profile

Golub Capital BDC NASDAQ: GBDC is a publicly traded business development company specializing in providing debt and equity financing solutions to middle-market companies in the United States. Externally managed by Golub Capital LLC, the firm focuses on building a diversified portfolio of senior secured loans, unitranche facilities and second-lien debt instruments designed to support growth, acquisitions and recapitalizations. As a closed-end investment vehicle, GBDC offers investors direct exposure to private credit strategies within a regulated structure.

The company's core business activities center on originating and managing bespoke financing arrangements for U.S.

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