Main Street Capital Co. (NYSE:MAIN – Get Rating) declared a monthly dividend on Monday, February 28th, Wall Street Journal reports. Investors of record on Tuesday, May 3rd will be given a dividend of 0.215 per share by the financial services provider on Friday, May 13th. This represents a $2.58 dividend on an annualized basis and a yield of 6.41%. The ex-dividend date is Monday, May 2nd.
Main Street Capital has decreased its dividend payment by an average of 3.1% per year over the last three years and has increased its dividend annually for the last 11 consecutive years. Main Street Capital has a dividend payout ratio of 85.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Main Street Capital to earn $3.01 per share next year, which means the company should continue to be able to cover its $2.58 annual dividend with an expected future payout ratio of 85.7%.
MAIN opened at $40.24 on Friday. Main Street Capital has a fifty-two week low of $37.91 and a fifty-two week high of $47.13. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.06 and a quick ratio of 0.06. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 8.40, a PEG ratio of 1.80 and a beta of 1.38. The company’s 50 day moving average price is $41.85 and its two-hundred day moving average price is $43.25.
In related news, Director Vincent D. Foster sold 50,000 shares of the stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $43.15, for a total transaction of $2,157,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Earl Jackson acquired 1,800 shares of the stock in a transaction dated Friday, March 25th. The stock was acquired at an average price of $42.22 per share, for a total transaction of $75,996.00. The disclosure for this purchase can be found here. Insiders sold 150,010 shares of company stock valued at $6,403,425 in the last quarter. Corporate insiders own 4.56% of the company’s stock.
Several hedge funds have recently bought and sold shares of MAIN. Millennium Management LLC boosted its stake in Main Street Capital by 92.1% during the fourth quarter. Millennium Management LLC now owns 235,837 shares of the financial services provider’s stock worth $10,580,000 after buying an additional 113,098 shares during the period. Morgan Stanley lifted its position in shares of Main Street Capital by 24.5% during the second quarter. Morgan Stanley now owns 538,140 shares of the financial services provider’s stock worth $22,112,000 after purchasing an additional 106,040 shares during the last quarter. BlackRock Inc. lifted its position in shares of Main Street Capital by 8.0% during the fourth quarter. BlackRock Inc. now owns 567,899 shares of the financial services provider’s stock worth $25,476,000 after purchasing an additional 42,039 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Main Street Capital by 27.3% in the fourth quarter. Advisors Asset Management Inc. now owns 76,070 shares of the financial services provider’s stock valued at $3,413,000 after acquiring an additional 16,334 shares in the last quarter. Finally, Credit Suisse AG bought a new stake in shares of Main Street Capital in the fourth quarter valued at about $426,000. 17.84% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently commented on MAIN. TheStreet lowered shares of Main Street Capital from a “b” rating to a “c+” rating in a research note on Friday, February 25th. Hovde Group assumed coverage on shares of Main Street Capital in a research note on Monday, March 7th. They set a “market perform” rating and a $44.00 target price on the stock. StockNews.com assumed coverage on shares of Main Street Capital in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Zacks Investment Research upgraded shares of Main Street Capital from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Tuesday, February 1st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Main Street Capital presently has an average rating of “Hold” and a consensus price target of $44.83.
Main Street Capital Company Profile (Get Rating)
Main Street Capital Corporation is a private equity firm specializes in equity capital to lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature, later stage emerging growth.
- Get a free copy of the StockNews.com research report on Main Street Capital (MAIN)
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