Main Street Capital Co. (NYSE:MAIN – Get Rating) declared a monthly dividend on Thursday, May 5th, Wall Street Journal reports. Investors of record on Tuesday, August 2nd will be paid a dividend of 0.215 per share by the financial services provider on Monday, August 15th. This represents a $2.58 dividend on an annualized basis and a dividend yield of 6.50%. The ex-dividend date is Monday, August 1st.
Main Street Capital has decreased its dividend 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 decline. 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%.
NYSE MAIN opened at $39.71 on Friday. The company has a market capitalization of $2.85 billion, a PE ratio of 8.29, a price-to-earnings-growth ratio of 1.77 and a beta of 1.32. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.06 and a current ratio of 0.06. Main Street Capital has a 52-week low of $37.91 and a 52-week high of $47.13. The company has a 50-day simple moving average of $41.69 and a 200 day simple moving average of $43.20.
In other news, Director John Earl Jackson bought 1,800 shares of Main Street Capital stock in a transaction that occurred on Friday, March 25th. The shares were acquired at an average price of $42.22 per share, with a total value of $75,996.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David L. Magdol sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $42.46, for a total value of $2,123,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 150,010 shares of company stock worth $6,403,425. 4.56% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Main Street Capital by 8.0% in the 4th quarter. BlackRock Inc. now owns 567,899 shares of the financial services provider’s stock worth $25,476,000 after buying an additional 42,039 shares during the last quarter. Morgan Stanley lifted its holdings in shares of 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 last quarter. Millennium Management LLC boosted its stake in shares of 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 valued at $10,580,000 after purchasing an additional 113,098 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Main Street Capital by 7.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 125,670 shares of the financial services provider’s stock valued at $5,165,000 after purchasing an additional 8,233 shares during the last quarter. Finally, Advisors Asset Management Inc. raised 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 period. 17.21% of the stock is currently owned by institutional investors.
MAIN has been the subject of several analyst reports. Hovde Group assumed coverage on shares of Main Street Capital in a report on Monday, March 7th. They issued a “market perform” rating and a $44.00 price objective for the company. Zacks Investment Research cut Main Street Capital from a “buy” rating to a “hold” rating in a report on Wednesday. StockNews.com assumed coverage on Main Street Capital in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, TheStreet lowered shares of Main Street Capital from a “b” rating to a “c+” rating in a research report on Friday, February 25th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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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