Main Street Capital Co. (MAIN) To Go Ex-Dividend on March 20th

Main Street Capital Co. (NYSE:MAIN – Get Rating) declared a dividend on Tuesday, February 21st, NASDAQ reports. Investors of record on Tuesday, March 21st will be paid a dividend of 0.175 per share by the financial services provider on Tuesday, March 28th. The ex-dividend date is Monday, March 20th. This is a boost from Main Street Capital’s previous dividend of $0.08.

Main Street Capital has increased its dividend payment by an average of 2.4% per year over the last three years and has increased its dividend annually for the last 11 consecutive years. Main Street Capital has a payout ratio of 71.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Main Street Capital to earn $3.82 per share next year, which means the company should continue to be able to cover its $2.70 annual dividend with an expected future payout ratio of 70.7%.

Main Street Capital Trading Down 1.1 %

Shares of Main Street Capital stock opened at $38.48 on Friday. Main Street Capital has a 52-week low of $31.66 and a 52-week high of $45.67. The stock’s 50-day simple moving average is $39.67 and its 200 day simple moving average is $38.02. The stock has a market capitalization of $3.06 billion, a P/E ratio of 11.95 and a beta of 1.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.07 and a current ratio of 0.07.

Institutional Trading of Main Street Capital

A number of institutional investors have recently made changes to their positions in MAIN. Price T Rowe Associates Inc. MD boosted its stake in shares of Main Street Capital by 250.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,501,374 shares of the financial services provider’s stock valued at $96,378,000 after purchasing an additional 1,788,197 shares during the period. Millennium Management LLC purchased a new stake in shares of Main Street Capital during the fourth quarter valued at approximately $6,674,000. Two Sigma Investments LP purchased a new stake in shares of Main Street Capital during the third quarter valued at approximately $5,518,000. Atria Wealth Solutions Inc. purchased a new stake in shares of Main Street Capital during the first quarter valued at approximately $3,102,000. Finally, Legal & General Group Plc raised its holdings in shares of Main Street Capital by 11.2% during the second quarter. Legal & General Group Plc now owns 426,724 shares of the financial services provider’s stock valued at $16,465,000 after acquiring an additional 43,111 shares in the last quarter. Hedge funds and other institutional investors own 18.79% of the company’s stock.

Wall Street Analysts Forecast Growth

MAIN has been the topic of a number of research reports. UBS Group assumed coverage on Main Street Capital in a research note on Monday, December 19th. They issued a “neutral” rating and a $40.00 price objective on the stock. B. Riley upped their price target on Main Street Capital from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, February 27th. TheStreet upgraded Main Street Capital from a “c+” rating to a “b-” rating in a research report on Monday, February 6th. StockNews.com initiated coverage on shares of Main Street Capital in a research report on Thursday. They issued a “hold” rating on the stock. Finally, Oppenheimer upped their price objective on shares of Main Street Capital from $39.00 to $41.00 and gave the stock a “market perform” rating in a research report on Monday, February 27th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $42.50.

Main Street Capital Company Profile

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Main Street Capital is a principal investment firm that provides long-term debt and equity capital to lower middle market companies. Main Street’s investments are primarily made to support management buyouts, recapitalizations, growth financings and acquisitions of companies that operate in diverse industry sectors and generally have annual revenues ranging from $10 million to $100 million.