Barings BDC director Stephen Byers increases stake with $147,972 purchase

Stephen R. Byers, a director at Barings BDC, Inc. (NYSE:BBDC), recently acquired additional shares of the company’s common stock in two transactions. The purchases, reported in a Form 4 filing with the Securities and Exchange Commission, totaled $147,972.

The first transaction took place on November 8, with Byers purchasing 1,350 shares at a price of $9.63 per share. A follow-up transaction occurred on November 15, when Byers acquired an additional 13,565 shares at $9.95 per share. These acquisitions increased his total holdings to 40,452.755 shares.

The transactions reflect Byers' ongoing involvement and investment in Barings BDC, a business development company based in Charlotte, North Carolina.

In other recent news, Barings BDC has reported steady growth and a strong credit outlook. The company's net asset value (NAV) per share for the third quarter of 2024 stands at $11.32, marking a slight increase from the previous year. Barings BDC's net investment income reached $0.29 per share, surpassing its quarterly dividend of $0.26 per share. Additionally, the company has successfully amended its revolving credit facility, now sized at $825 million, and extended its maturity date to November 2029.

In terms of recent developments, the company reported low non-accruals at 0.5% of fair value and a diversified portfolio with 72% in secured investments. Barings BDC also declared a fourth-quarter dividend of $0.26 per share and repurchased over 500,000 shares by September 30. New commitments in the fourth quarter amounted to $117 million. Despite some technical issues during the earnings call, the company maintains a strategic focus on middle-market investments and a conservative underwriting approach.

InvestingPro Insights

Stephen R. Byers' recent share purchases align with several positive indicators for Barings BDC, Inc. (NYSE:BBDC). According to InvestingPro data, the company's stock is trading near its 52-week high, with a price at 96.88% of its peak. This suggests strong market confidence, which may have influenced Byers' decision to increase his stake.

BBDC's financial health appears robust, with InvestingPro Tips highlighting that the company has maintained dividend payments for 18 consecutive years and has raised its dividend for 5 consecutive years. This consistency in shareholder returns is particularly noteworthy given the company's significant dividend yield of 10.52%, as reported by InvestingPro.

The company's valuation metrics also paint an interesting picture. With a P/E ratio of 9.14, BBDC appears to be trading at a relatively modest valuation compared to the broader market. This could indicate potential upside, especially considering the company's profitability over the last twelve months, another point noted in the InvestingPro Tips.

It's worth mentioning that InvestingPro offers additional insights, with 9 more tips available for BBDC, which could provide further context to Byers' investment decision and the company's overall prospects.

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