Main Street Capital Co. (NYSE:MAIN) Announces Dividend of $0.28

Main Street Capital Co. (NYSE:MAIN) announced a dividend on Monday, September 18th, investing.com reports. Investors 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% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Main Street Capital has a payout ratio of 72.9% indicating that its dividend is sufficiently covered by earnings. 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 %

Main Street Capital stock traded up $0.22 on Monday, hitting $41.23. 366,277 shares of the stock traded hands, compared to its average volume of 358,696. 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 firm has a market cap of $3.40 billion, a P/E ratio of 9.25 and a beta of 1.29. The business’s fifty day simple moving average is $40.92 and its 200 day simple moving average is $40.11. Main Street Capital has a 1 year low of $31.66 and a 1 year high of $43.15.

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in 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 last quarter. Millennium Management LLC purchased a new stake in Main Street Capital in the fourth quarter valued at $6,674,000. Two Sigma Investments LP purchased a new stake in Main Street Capital in the third quarter valued at $5,518,000. Imprint Wealth LLC purchased a new stake in Main Street Capital in the second quarter valued at $12,549,000. Finally, Atria Wealth Solutions Inc. purchased a new stake in Main Street Capital in the first quarter valued at $3,102,000. 20.20% of the stock is currently owned by hedge funds and other institutional investors.

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.