Main Street Capital (NYSE:MAIN) Shares Up 0.6% After Dividend Announcement

Main Street Capital Co. (NYSE:MAIN)’s share price rose 0.6% during mid-day trading on Thursday following a dividend announcement from the company. The stock traded as high as $50.98 and last traded at $50.95. Approximately 61,958 shares traded hands during trading, a decline of 82% from the average daily volume of 346,193 shares. The stock had previously closed at $50.63.

The newly announced dividend which will be paid on Friday, September 13th. Shareholders of record on Friday, September 6th will be issued a $0.245 dividend. The ex-dividend date is Friday, September 6th. This represents a $2.94 annualized dividend and a yield of 5.79%. Main Street Capital’s dividend payout ratio (DPR) is presently 55.17%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Oppenheimer raised 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 research report on Monday, February 26th. 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 report on Friday, March 1st. Royal Bank of Canada upped their price target on Main Street Capital from $48.00 to $52.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. Finally, Truist Financial increased their price objective on Main Street Capital from $43.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, February 26th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $46.17.

Main Street Capital Price Performance

The stock has a market capitalization of $4.31 billion, a P/E ratio of 9.72 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.09 and a current ratio of 0.09. The firm has a fifty day moving average price of $47.47 and a two-hundred day moving average price of $44.44.

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

Institutional Trading of Main Street Capital

Several large investors have recently added to or reduced their stakes in MAIN. LifeSteps Financial Inc. purchased a new position in Main Street Capital during the 1st quarter valued at approximately $35,000. Nomura Asset Management Co. Ltd. increased its position in Main Street Capital by 73.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,139 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 483 shares during the last quarter. Signaturefd LLC raised its stake in Main Street Capital by 157.9% during the third 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 in the last quarter. Scarborough Advisors LLC purchased a new position in shares of Main Street Capital in the 4th quarter worth $72,000. Finally, Newbridge Financial Services Group Inc. increased its holdings in shares of Main Street Capital by 32.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,733 shares of the financial services provider’s stock worth $75,000 after buying an additional 420 shares during the last quarter. 20.31% of the stock is currently owned by institutional investors.

Main Street Capital Company Profile

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.