Main Street Capital Co. (MAIN) to Issue Dividend of $0.28 on September 27th

Main Street Capital Co. (NYSE:MAIN) announced a dividend on Monday, September 18th, 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% indicating that 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 Stock Up 0.5 %

Shares of NYSE:MAIN traded up $0.22 during midday trading on Monday, hitting $41.23. 366,277 shares of the stock were exchanged, compared to its average volume of 358,696. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.10 and a current ratio of 0.10. Main Street Capital has a 52-week low of $31.66 and a 52-week high of $43.15. The business’s fifty day simple moving average is $40.92 and its two-hundred day simple moving average is $40.11. The company has a market capitalization of $3.40 billion, a PE ratio of 9.25 and a beta of 1.29.

Main Street Capital (NYSE:MAIN) last posted its earnings results on Thursday, August 3rd. The financial services provider reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. Main Street Capital had a return on equity of 14.33% and a net margin of 75.58%. The company had revenue of $127.58 million for the quarter, compared to analyst estimates of $120.03 million. As a group, research analysts predict that Main Street Capital will post 4.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Main Street Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MAIN. ICA Group Wealth Management LLC acquired a new position in shares of Main Street Capital during the 4th quarter worth about $55,000. Harbour Investments Inc. boosted its stake in shares of Main Street Capital by 15.6% during the 4th quarter. Harbour Investments Inc. now owns 2,636 shares of the financial services provider’s stock worth $97,000 after buying an additional 356 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Main Street Capital by 3,563.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,334 shares of the financial services provider’s stock worth $133,000 after buying an additional 3,243 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Main Street Capital during the 1st quarter worth about $132,000. Finally, BNP Paribas Arbitrage SNC boosted its stake in shares of Main Street Capital by 1,835.3% during the 1st quarter. BNP Paribas Arbitrage SNC now owns 3,561 shares of the financial services provider’s stock worth $141,000 after buying an additional 3,377 shares during the last quarter. 20.20% of the stock is owned by institutional investors and hedge funds.

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.