Perigon Wealth Management LLC Invests $336,000 in Main Street Capital Co. (NYSE:MAIN)

Perigon Wealth Management LLC acquired a new position in shares of Main Street Capital Co. (NYSE:MAIN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,770 shares of the financial services provider’s stock, valued at approximately $336,000.

A number of other large investors also recently modified their holdings of the business. Citigroup Inc. raised its holdings in shares of Main Street Capital by 945.9% in the 3rd quarter. Citigroup Inc. now owns 638 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 577 shares during the period. Impact Partnership Wealth LLC raised its holdings in shares of Main Street Capital by 562.3% in the 3rd quarter. Impact Partnership Wealth LLC now owns 1,000 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 849 shares during the period. Signaturefd LLC raised its holdings in shares of Main Street Capital by 157.9% in the 3rd quarter. Signaturefd LLC now owns 1,220 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 747 shares during the period. ICA Group Wealth Management LLC bought a new stake in shares of Main Street Capital in the 4th quarter valued at about $55,000. Finally, Hexagon Capital Partners LLC raised its holdings in shares of Main Street Capital by 23.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,744 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 335 shares during the period. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Main Street Capital Stock Up 0.2 %

Shares of MAIN opened at $46.77 on Wednesday. Main Street Capital Co. has a 12 month low of $37.70 and a 12 month high of $47.82. The firm’s 50 day moving average is $46.00 and its 200-day moving average is $43.33. The stock has a market capitalization of $3.97 billion, a PE ratio of 8.96 and a beta of 1.29. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.14.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.06 by $0.06. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. The company had revenue of $129.31 million for the quarter, compared to analysts’ expectations of $125.52 million. Equities research analysts forecast that Main Street Capital Co. will post 4.07 EPS for the current year.

Main Street Capital Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 20th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, March 19th. This is a boost from Main Street Capital’s previous dividend of $0.24. This represents a dividend yield of 8.37%. Main Street Capital’s dividend payout ratio (DPR) is currently 55.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Main Street Capital from $43.00 to $45.00 and gave the company a “hold” rating in a report on Monday, February 26th. UBS Group increased their price target on shares of Main Street Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Royal Bank of Canada increased their price target on shares of Main Street Capital from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. B. Riley cut shares of Main Street Capital from a “buy” rating to a “neutral” rating and set a $47.00 price target on the stock. in a report on Monday, January 8th. Finally, Oppenheimer increased their price target on shares of Main Street Capital from $41.00 to $43.00 and gave the company a “market perform” rating in a report on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Main Street Capital presently has an average rating of “Hold” and a consensus target price of $45.50.

About Main Street Capital

Main Street Capital Corporation is a business development company 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.