Main Street Capital Co. (NYSE:MAIN – Get Free Report) declared a dividend on Sunday, September 17th, investing.com reports. Stockholders 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 dividend yield of 8.47%. The ex-dividend date is Tuesday, September 19th. This is a positive change from Main Street Capital’s previous dividend of $0.23.
Main Street Capital has raised its dividend by an average of 2.3% per year over the last three years and has increased its dividend every year for the last 12 years. Main Street Capital has a payout ratio of 72.9% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 0.3 %
NYSE MAIN traded up $0.12 during trading hours on Friday, reaching $41.01. The company had a trading volume of 447,229 shares, compared to its average volume of 358,652. The stock has a 50-day moving average of $40.92 and a 200 day moving average of $40.11. Main Street Capital has a 1-year low of $31.66 and a 1-year high of $43.15. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $3.38 billion, a P/E ratio of 9.26 and a beta of 1.29.
Institutional Trading of Main Street Capital
A number of large investors have recently made changes to their positions in MAIN. Price T Rowe Associates Inc. MD increased 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 worth $96,378,000 after buying 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 worth approximately $6,674,000. Two Sigma Investments LP acquired a new position in Main Street Capital in the third quarter valued at approximately $5,518,000. Imprint Wealth LLC acquired a new stake in Main Street Capital during the second quarter worth approximately $12,549,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in Main Street Capital during the first quarter worth approximately $3,102,000. 20.20% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have commented on the stock. Hovde Group raised shares of Main Street Capital from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research report on Friday, June 30th. Oppenheimer reaffirmed a “market perform” rating and issued a $41.00 target price on shares of Main Street Capital in a research report on Monday, August 7th. B. Riley boosted their price target on shares of Main Street Capital from $46.00 to $47.00 in a research note on Monday, August 7th. Finally, StockNews.com assumed coverage on shares of Main Street Capital in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Main Street Capital presently has an average rating of “Hold” and an average target price of $43.67.
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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