Sumitomo Mitsui Trust Holdings Inc. Sells 2,385 Shares of Main Street Capital Co. (NYSE:MAIN)

Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in Main Street Capital Co. (NYSE:MAIN) by 1.3% in the fourth quarter, Holdings Channel reports. The firm owned 185,198 shares of the financial services provider’s stock after selling 2,385 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Main Street Capital were worth $8,006,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MAIN. Tudor Investment Corp Et Al bought a new position in Main Street Capital in the third quarter valued at approximately $6,538,000. Van ECK Associates Corp grew its stake in Main Street Capital by 12.4% in the third quarter. Van ECK Associates Corp now owns 805,063 shares of the financial services provider’s stock valued at $32,709,000 after purchasing an additional 88,802 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Main Street Capital by 133.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 104,526 shares of the financial services provider’s stock worth $4,247,000 after acquiring an additional 59,727 shares during the period. DnB Asset Management AS bought a new position in shares of Main Street Capital during the 3rd quarter worth approximately $2,068,000. Finally, Adell Harriman & Carpenter Inc. boosted its stake in shares of Main Street Capital by 20.1% during the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 274,615 shares of the financial services provider’s stock worth $11,158,000 after acquiring an additional 46,010 shares during the period. 20.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on MAIN. Truist Financial lifted their target price on Main Street Capital from $43.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, February 26th. B. Riley downgraded Main Street Capital from a “buy” rating to a “neutral” rating and set a $47.00 target price for the company. in a research note on Monday, January 8th. Royal Bank of Canada lifted their target price on Main Street Capital from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. Oppenheimer lifted their target price on Main Street Capital from $41.00 to $43.00 and gave the stock a “market perform” rating in a research note on Monday, February 26th. Finally, UBS Group lifted their target price on Main Street Capital from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $45.50.

Main Street Capital Stock Performance

NYSE:MAIN opened at $48.69 on Wednesday. The stock has a market cap of $4.14 billion, a P/E ratio of 9.33 and a beta of 1.29. The stock has a 50 day simple moving average of $46.34 and a 200 day simple moving average of $43.66. 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 Co. has a 1-year low of $37.70 and a 1-year high of $48.75.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.06. The firm had revenue of $129.31 million during the quarter, compared to analysts’ expectations of $125.52 million. Main Street Capital had a return on equity of 14.99% and a net margin of 85.62%. Research analysts anticipate that Main Street Capital Co. will post 4.07 earnings per share for the current year.

Main Street Capital Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 20th were issued a $0.30 dividend. The ex-dividend date was Tuesday, March 19th. This is a boost from Main Street Capital’s previous dividend of $0.24. This represents a yield of 8.37%. Main Street Capital’s payout ratio is currently 55.17%.

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.