Main Street Capital Co. (NYSE:MAIN – Get Rating) announced a monthly dividend on Friday, November 4th, Wall Street Journal reports. Investors of record on Wednesday, March 8th will be given a dividend of 0.225 per share by the financial services provider on Wednesday, March 15th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.93%. The ex-dividend date of this dividend is Tuesday, March 7th.
Main Street Capital has decreased its dividend by an average of 3.1% annually over the last three years and has increased its dividend annually for the last 10 consecutive years. Main Street Capital has a dividend payout ratio of 82.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Main Street Capital to earn $3.17 per share next year, which means the company should continue to be able to cover its $2.64 annual dividend with an expected future payout ratio of 83.3%.
Main Street Capital Stock Performance
Shares of MAIN stock traded up $1.57 during trading hours on Friday, hitting $38.96. The company’s stock had a trading volume of 19,465 shares, compared to its average volume of 334,937. The stock has a market cap of $2.84 billion, a PE ratio of 10.78 and a beta of 1.33. Main Street Capital has a 12-month low of $31.66 and a 12-month high of $47.13. The company has a 50 day moving average of $37.04 and a 200 day moving average of $39.14. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.18.
Main Street Capital (NYSE:MAIN – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The financial services provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.05. The company had revenue of $85.20 million for the quarter, compared to the consensus estimate of $81.34 million. Main Street Capital had a return on equity of 11.67% and a net margin of 79.82%. On average, sell-side analysts forecast that Main Street Capital will post 3.01 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
MAIN has been the subject of several analyst reports. Hovde Group decreased their target price on shares of Main Street Capital to $40.00 in a research note on Wednesday, October 5th. StockNews.com began coverage on Main Street Capital in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Raymond James lowered shares of Main Street Capital from an “outperform” rating to a “market perform” rating in a research report on Monday, August 8th. Finally, TheStreet downgraded shares of Main Street Capital from a “b-” rating to a “c+” rating in a research report on Friday, September 23rd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Main Street Capital has an average rating of “Hold” and an average target price of $44.50.
Institutional Investors Weigh In On Main Street Capital
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mutual Advisors LLC raised its stake in Main Street Capital by 4.9% during the second quarter. Mutual Advisors LLC now owns 5,900 shares of the financial services provider’s stock worth $227,000 after purchasing an additional 273 shares during the period. First Republic Investment Management Inc. raised its position in shares of Main Street Capital by 0.9% during the 2nd quarter. First Republic Investment Management Inc. now owns 34,031 shares of the financial services provider’s stock valued at $1,311,000 after buying an additional 317 shares during the period. Guggenheim Capital LLC lifted its holdings in Main Street Capital by 6.4% in the first quarter. Guggenheim Capital LLC now owns 7,550 shares of the financial services provider’s stock valued at $322,000 after acquiring an additional 457 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Main Street Capital by 11.9% in the first quarter. PNC Financial Services Group Inc. now owns 8,504 shares of the financial services provider’s stock worth $363,000 after acquiring an additional 904 shares during the period. Finally, Wells Fargo & Company MN raised its position in Main Street Capital by 2.4% in the second quarter. Wells Fargo & Company MN now owns 84,602 shares of the financial services provider’s stock valued at $3,260,000 after purchasing an additional 1,995 shares during the period. Institutional investors and hedge funds own 19.11% of the company’s stock.
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.
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