Main Street Capital Co. (NYSE:MAIN) Raises Dividend to $0.28 Per Share

Main Street Capital Co. (NYSE:MAIN) announced a dividend on Sunday, September 17th, investing.com reports. Shareholders of record on Wednesday, September 20th will be paid a dividend of 0.275 per share by the financial services provider on Wednesday, September 27th. This represents a yield of 8.47%. The ex-dividend date is Tuesday, September 19th. This is an increase from Main Street Capital’s previous dividend of $0.23.

Main Street Capital has increased its dividend payment by an average of 2.3% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. Main Street Capital has a dividend payout ratio of 72.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Main Street Capital to earn $3.88 per share next year, which means the company should continue to be able to cover its $2.82 annual dividend with an expected future payout ratio of 72.7%.

Main Street Capital Stock Performance

MAIN traded up $0.12 on Friday, reaching $41.01. 447,229 shares of the stock were exchanged, compared to its average volume of 358,652. The company’s 50-day moving average price is $40.92 and its 200 day moving average price is $40.11. The firm has a market capitalization of $3.38 billion, a PE ratio of 9.26 and a beta of 1.29. Main Street Capital has a fifty-two week low of $31.66 and a fifty-two week high of $43.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.10 and a quick ratio of 0.10.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. The business had revenue of $127.58 million during the quarter, compared to analyst estimates of $120.03 million. Main Street Capital had a return on equity of 14.33% and a net margin of 75.58%. As a group, sell-side analysts forecast that Main Street Capital will post 4.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MAIN. B. Riley lifted their price objective on Main Street Capital from $46.00 to $47.00 in a research note on Monday, August 7th. StockNews.com began coverage on Main Street Capital in a research note on Thursday, August 17th. They set a “hold” rating for the company. Oppenheimer reiterated a “market perform” rating and set a $41.00 price objective on shares of Main Street Capital in a research note on Monday, August 7th. Finally, Hovde Group upgraded Main Street Capital from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research note on Friday, June 30th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $43.67.

Hedge Funds Weigh In On Main Street Capital

Institutional investors and hedge funds have recently modified their holdings of the business. Schonfeld Strategic Advisors LLC purchased a new stake in Main Street Capital during the 1st quarter worth approximately $209,000. Bridgefront Capital LLC purchased a new stake in Main Street Capital during the 4th quarter worth approximately $205,000. Segall Bryant & Hamill LLC purchased a new stake in Main Street Capital during the 1st quarter worth approximately $204,000. Coppell Advisory Solutions Corp. purchased a new stake in Main Street Capital during the 4th quarter worth approximately $203,000. Finally, Squarepoint Ops LLC purchased a new stake in Main Street Capital during the 1st quarter worth approximately $202,000. Hedge funds and other institutional investors own 20.20% 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.