Van ECK Associates Corp Buys 436,365 Shares of Carlyle Secured Lending, Inc. $CGBD

Van ECK Associates Corp boosted its stake in shares of Carlyle Secured Lending, Inc. (NASDAQ:CGBD) by 33.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,748,836 shares of the company’s stock after buying an additional 436,365 shares during the quarter. Van ECK Associates Corp’s holdings in Carlyle Secured Lending were worth $18,415,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Mackenzie Financial Corp grew its stake in Carlyle Secured Lending by 3.2% in the fourth quarter. Mackenzie Financial Corp now owns 27,466 shares of the company’s stock worth $348,000 after purchasing an additional 857 shares in the last quarter. Advisory Research Inc. grew its position in shares of Carlyle Secured Lending by 9.2% during the 3rd quarter. Advisory Research Inc. now owns 11,340 shares of the company’s stock worth $142,000 after buying an additional 953 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Carlyle Secured Lending by 71.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,630 shares of the company’s stock worth $36,000 after buying an additional 1,100 shares in the last quarter. Sunbelt Securities Inc. increased its stake in shares of Carlyle Secured Lending by 3.3% during the fourth quarter. Sunbelt Securities Inc. now owns 34,182 shares of the company’s stock valued at $427,000 after buying an additional 1,100 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Carlyle Secured Lending by 4.6% during the second quarter. CANADA LIFE ASSURANCE Co now owns 45,932 shares of the company’s stock valued at $629,000 after buying an additional 2,040 shares during the period. 24.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CGBD. Wells Fargo & Company dropped their target price on shares of Carlyle Secured Lending from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. B. Riley Financial reissued a “buy” rating on shares of Carlyle Secured Lending in a report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $12.50.

Carlyle Secured Lending Stock Performance

Shares of Carlyle Secured Lending stock opened at $11.78 on Monday. The company has a market capitalization of $810.58 million, a PE ratio of 23.10 and a beta of 0.62. The company has a 50-day simple moving average of $10.75 and a two-hundred day simple moving average of $11.05. Carlyle Secured Lending, Inc. has a one year low of $9.94 and a one year high of $14.00. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.79 and a current ratio of 0.79.

Carlyle Secured Lending Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 11.9%. The ex-dividend date is Wednesday, September 30th. Carlyle Secured Lending’s payout ratio is 274.51%.

Carlyle Secured Lending Profile

Carlyle Secured Lending, Inc (NASDAQ: CGBD) is a closed-end, non-diversified business development company that provides customized debt financing solutions to middle-market companies. Chartered under the Investment Company Act of 1940, the company invests primarily in floating-rate senior secured loans, including first-lien, unitranche and one-stop structures. Its objective is to generate current income and capital appreciation through disciplined credit selection and active portfolio management.

The firm focuses on U.S.