Northern Trust Corp Sells 4,293 Shares of Main Street Capital Co. (NYSE:MAIN)

Northern Trust Corp reduced its position in shares of Main Street Capital Co. (NYSE:MAIN) by 10.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,045 shares of the financial services provider’s stock after selling 4,293 shares during the quarter. Northern Trust Corp’s holdings in Main Street Capital were worth $2,053,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE boosted its holdings in shares of Main Street Capital by 8.4% during the 4th quarter. US Bancorp DE now owns 2,579 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 200 shares during the last quarter. PFG Investments LLC boosted its holdings in shares of Main Street Capital by 1.6% during the 4th quarter. PFG Investments LLC now owns 13,642 shares of the financial services provider’s stock valued at $799,000 after acquiring an additional 219 shares during the last quarter. Harbour Investments Inc. boosted its holdings in shares of Main Street Capital by 6.9% during the 4th quarter. Harbour Investments Inc. now owns 3,512 shares of the financial services provider’s stock valued at $206,000 after acquiring an additional 228 shares during the last quarter. Wedbush Securities Inc. boosted its holdings in shares of Main Street Capital by 6.2% during the 4th quarter. Wedbush Securities Inc. now owns 4,591 shares of the financial services provider’s stock valued at $269,000 after acquiring an additional 266 shares during the last quarter. Finally, Marble Harbor Investment Counsel LLC boosted its holdings in shares of Main Street Capital by 4.8% during the 4th quarter. Marble Harbor Investment Counsel LLC now owns 6,285 shares of the financial services provider’s stock valued at $368,000 after acquiring an additional 285 shares during the last quarter. 20.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MAIN has been the topic of a number of recent analyst reports. UBS Group dropped their price target on shares of Main Street Capital from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Oppenheimer reaffirmed a “market perform” rating on shares of Main Street Capital in a report on Tuesday, May 13th. Finally, Truist Financial dropped their price target on shares of Main Street Capital from $62.00 to $54.00 and set a “hold” rating on the stock in a report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $52.80.

Main Street Capital Stock Performance

MAIN opened at $55.48 on Monday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 10.05 and a beta of 0.86. The company’s 50 day moving average is $54.33 and its 200 day moving average is $56.58. Main Street Capital Co. has a 12-month low of $45.00 and a 12-month high of $63.32.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. The company had revenue of $137.05 million for the quarter, compared to the consensus estimate of $137.50 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. On average, equities research analysts predict that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.255 per share. The ex-dividend date is Monday, September 8th. This represents a $3.06 annualized dividend and a yield of 5.52%. This is an increase from Main Street Capital’s previous monthly dividend of $0.25. Main Street Capital’s payout ratio is currently 50.93%.

Insider Buying and Selling at Main Street Capital

In other Main Street Capital news, insider David L. Magdol sold 100,000 shares of Main Street Capital stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the transaction, the insider now owns 377,182 shares of the company’s stock, valued at $21,895,415.10. The trade was a 20.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dwayne L. Hyzak sold 120,000 shares of Main Street Capital stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the transaction, the chief executive officer now directly owns 402,371 shares in the company, valued at $23,357,636.55. This represents a 22.97% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.09% of the company’s stock.

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.