Main Street Capital Co. (NYSE:MAIN – Get Rating) announced a monthly dividend on Thursday, May 5th, Wall Street Journal reports. Investors of record on Tuesday, July 5th will be paid a dividend of 0.215 per share by the financial services provider on Friday, July 15th. This represents a $2.58 dividend on an annualized basis and a yield of 6.50%. The ex-dividend date of this dividend is Friday, July 1st.
Main Street Capital has decreased its dividend by an average of 3.1% annually over the last three years and has increased its dividend every year for the last 11 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%.
Shares of NYSE:MAIN opened at $39.71 on Friday. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 8.29, a PEG ratio of 1.77 and a beta of 1.32. Main Street Capital has a 1-year low of $37.91 and a 1-year high of $47.13. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.06 and a current ratio of 0.06. The company has a 50 day moving average price of $41.69 and a 200 day moving average price of $43.20.
In related news, Director Vincent D. Foster sold 50,000 shares of Main Street Capital stock in a transaction on Wednesday, March 2nd. The shares were sold at an average price of $43.15, for a total value of $2,157,500.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Dwayne L. Hyzak sold 50,010 shares of Main Street Capital stock in a transaction on Wednesday, March 30th. The stock was sold at an average price of $42.45, for a total transaction of $2,122,924.50. The disclosure for this sale can be found here. Insiders have sold a total of 150,010 shares of company stock worth $6,403,425 in the last 90 days. 4.56% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Morgan Stanley raised its holdings in Main Street Capital by 24.5% in the 2nd quarter. Morgan Stanley now owns 538,140 shares of the financial services provider’s stock worth $22,112,000 after acquiring an additional 106,040 shares during the period. Millennium Management LLC raised its holdings in Main Street Capital by 92.1% in the 4th quarter. Millennium Management LLC now owns 235,837 shares of the financial services provider’s stock worth $10,580,000 after acquiring an additional 113,098 shares during the period. Bank of New York Mellon Corp raised its holdings in Main Street Capital by 7.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 125,670 shares of the financial services provider’s stock worth $5,165,000 after acquiring an additional 8,233 shares during the period. Advisors Asset Management Inc. grew its position in Main Street Capital by 27.3% in the 4th quarter. Advisors Asset Management Inc. now owns 76,070 shares of the financial services provider’s stock worth $3,413,000 after purchasing an additional 16,334 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Main Street Capital by 32.2% in the 4th quarter. Bank of America Corp DE now owns 29,689 shares of the financial services provider’s stock worth $1,331,000 after purchasing an additional 7,226 shares during the last quarter. Hedge funds and other institutional investors own 17.21% of the company’s stock.
A number of research firms recently commented on MAIN. Hovde Group began coverage on shares of Main Street Capital in a research note on Monday, March 7th. They issued a “market perform” rating and a $44.00 price objective for the company. Zacks Investment Research lowered shares of Main Street Capital from a “buy” rating to a “hold” rating in a research note on Wednesday. StockNews.com started coverage on shares of Main Street Capital in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, TheStreet downgraded shares of Main Street Capital from a “b” rating to a “c+” rating in a research report on Friday, February 25th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Main Street Capital presently has a consensus rating of “Hold” and a consensus target price of $44.83.
About Main Street Capital (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.
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