McElhenny Sheffield Capital Management LLC Invests $410,000 in Ares Capital Corporation $ARCC

McElhenny Sheffield Capital Management LLC purchased a new position in shares of Ares Capital Corporation (NASDAQ:ARCC) in the 2nd quarter, Holdings Channel reports. The firm purchased 20,054 shares of the investment management company’s stock, valued at approximately $410,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC acquired a new position in Ares Capital in the 2nd quarter worth about $877,203,000. Confluence Investment Management LLC raised its holdings in Ares Capital by 0.6% in the 2nd quarter. Confluence Investment Management LLC now owns 3,796,791 shares of the investment management company’s stock valued at $83,378,000 after buying an additional 21,344 shares during the last quarter. Advisors Capital Management LLC raised its holdings in Ares Capital by 3.0% in the 1st quarter. Advisors Capital Management LLC now owns 3,627,990 shares of the investment management company’s stock valued at $80,396,000 after buying an additional 104,339 shares during the last quarter. LPL Financial LLC increased its holdings in Ares Capital by 9.0% in the first quarter. LPL Financial LLC now owns 3,567,816 shares of the investment management company’s stock valued at $79,063,000 after purchasing an additional 293,442 shares during the period. Finally, Allen Investment Management LLC increased its holdings in Ares Capital by 8.4% in the first quarter. Allen Investment Management LLC now owns 2,975,197 shares of the investment management company’s stock valued at $65,930,000 after purchasing an additional 230,924 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. B. Riley upgraded shares of Ares Capital from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $22.50 to $23.50 in a research report on Wednesday, July 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Ares Capital in a research report on Wednesday. Citigroup reiterated an “outperform” rating on shares of Ares Capital in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded Ares Capital from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.86.

Ares Capital Trading Down 2.9%

Shares of Ares Capital stock opened at $19.10 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.14 and a current ratio of 1.14. Ares Capital Corporation has a 52 week low of $18.26 and a 52 week high of $23.84. The stock has a 50 day moving average price of $21.68 and a two-hundred day moving average price of $21.65. The stock has a market capitalization of $13.47 billion, a PE ratio of 9.32 and a beta of 0.68.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Tuesday, July 29th. The investment management company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Ares Capital had a net margin of 44.94% and a return on equity of 10.48%. The firm had revenue of $614.00 million during the quarter, compared to analyst estimates of $748.76 million. During the same period last year, the business posted $0.61 EPS. As a group, equities analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.1%. The ex-dividend date was Monday, September 15th. Ares Capital’s dividend payout ratio (DPR) is currently 93.66%.

About Ares Capital

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.