Main Street Capital (NYSE:MAIN) Sets New 1-Year High After Dividend Announcement

Main Street Capital Co. (NYSE:MAIN) hit a new 52-week high during trading on Friday after the company announced a dividend. The stock traded as high as $52.63 and last traded at $52.11, with a volume of 193037 shares. The stock had previously closed at $51.50.

The newly announced dividend which will be paid on Friday, March 14th. Investors of record on Friday, March 7th will be issued a $0.25 dividend. The ex-dividend date is Friday, March 7th. This represents a $3.00 annualized dividend and a yield of 5.78%. This is a boost from Main Street Capital’s previous monthly dividend of $0.25. Main Street Capital’s payout ratio is 54.95%.

Wall Street Analysts Forecast Growth

MAIN has been the subject of several research reports. Oppenheimer upped their price objective on shares of Main Street Capital from $43.00 to $44.00 and gave the stock a “market perform” rating in a report on Tuesday, August 13th. Royal Bank of Canada restated an “outperform” rating and issued a $52.00 price objective on shares of Main Street Capital in a report on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Main Street Capital currently has a consensus rating of “Hold” and a consensus price target of $48.40.

Main Street Capital Stock Up 0.7 %

The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.07 and a current ratio of 0.07. The stock’s 50-day moving average price is $50.60 and its two-hundred day moving average price is $50.03. The stock has a market capitalization of $4.52 billion, a PE ratio of 9.70 and a beta of 1.29.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, August 8th. The financial services provider reported $1.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.01. Main Street Capital had a net margin of 87.58% and a return on equity of 14.06%. The business had revenue of $132.15 million during the quarter, compared to the consensus estimate of $132.62 million. During the same quarter last year, the firm earned $1.06 earnings per share. As a group, analysts expect that Main Street Capital Co. will post 4.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Main Street Capital

Several hedge funds have recently added to or reduced their stakes in MAIN. Godsey & Gibb Inc. purchased a new position in shares of Main Street Capital in the 3rd quarter worth about $28,000. Triad Wealth Partners LLC purchased a new position in Main Street Capital in the second quarter worth about $38,000. Optimum Investment Advisors lifted its stake in shares of Main Street Capital by 100.0% in the second quarter. Optimum Investment Advisors now owns 1,000 shares of the financial services provider’s stock worth $50,000 after buying an additional 500 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Main Street Capital during the third quarter valued at approximately $50,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Main Street Capital by 59.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,089 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 405 shares in the last quarter. 20.31% of the stock is owned by institutional investors.

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.