Harris Stayce D., a director at BlackRock (NYSE:BLK) ESG Capital Allocation Term Trust (NYSE:ECAT), recently acquired 60 shares of the company's common stock. The shares were purchased at a price of $17.2028 each, amounting to a total transaction value of $1,032. Following this transaction, Harris owns a total of 60 shares directly. The acquisition was reported in a Form 4 filing with the Securities and Exchange Commission.
InvestingPro Insights
The recent insider purchase by director Harris Stayce D. at BlackRock ESG Capital Allocation Term Trust (NYSE:ECAT) comes at an interesting time for the company. According to InvestingPro data, ECAT's stock is currently trading at $17.14, which is 94.71% of its 52-week high, suggesting the stock has been performing well.
ECAT's dividend yield stands at an impressive 21.11%, with the most recent ex-dividend date on October 15, 2024. This aligns with one of the InvestingPro Tips, which notes that the company "pays a significant dividend to shareholders." Additionally, ECAT has raised its dividend for four consecutive years, demonstrating a commitment to returning value to shareholders.
The trust's P/E ratio of 6.27 indicates that it may be undervalued compared to the broader market. However, investors should note that InvestingPro Tips also point out that ECAT "suffers from weak gross profit margins" and its "valuation implies a poor free cash flow yield." These factors may explain the relatively low P/E ratio and high dividend yield.
For investors seeking more comprehensive analysis, InvestingPro offers additional tips and metrics beyond those mentioned here. The platform provides a total of 14 tips for ECAT, offering a deeper dive into the company's financial health and market position.
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