Main Street Capital Corporation (NYSE:MAIN) Declares Monthly Dividend of $0.27

Main Street Capital Corporation (NYSE:MAIN) declared a monthly dividend on Monday, August 3rd. Investors of record on Tuesday, December 8th will be paid a dividend of 0.265 per share by the financial services provider on Tuesday, December 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Tuesday, December 8th.

Main Street Capital has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 4 years. Main Street Capital has a payout ratio of 83.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Main Street Capital to earn $3.87 per share next year, which means the company should continue to be able to cover its $3.18 annual dividend with an expected future payout ratio of 82.2%.

Main Street Capital Stock Up 2.5%

NYSE:MAIN traded up $1.39 during trading hours on Tuesday, hitting $57.14. The company’s stock had a trading volume of 654,197 shares, compared to its average volume of 703,839. The stock has a market capitalization of $5.31 billion, a P/E ratio of 12.03 and a beta of 0.72. The stock has a fifty day moving average of $52.29 and a 200-day moving average of $55.20. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.11. Main Street Capital has a 52-week low of $48.95 and a 52-week high of $67.77.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.11). The business had revenue of $73.44 million for the quarter, compared to analysts’ expectations of $145.23 million. Main Street Capital had a return on equity of 12.01% and a net margin of 74.86%. On average, equities analysts forecast that Main Street Capital will post 3.79 earnings per share for the current year.

Insider Activity

In other Main Street Capital news, EVP Jason B. Beauvais sold 6,830 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $51.73, for a total transaction of $353,315.90. Following the transaction, the executive vice president owned 196,185 shares of the company’s stock, valued at approximately $10,148,650.05. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.83% of the company’s stock.

Institutional Trading of Main Street Capital

Several institutional investors and hedge funds have recently made changes to their positions in MAIN. Bay Rivers Group acquired a new stake in shares of Main Street Capital in the 2nd quarter valued at about $203,000. Focus Financial Network Inc. increased its position in Main Street Capital by 9.2% during the second quarter. Focus Financial Network Inc. now owns 46,751 shares of the financial services provider’s stock worth $2,425,000 after buying an additional 3,932 shares during the period. MassMutual Private Wealth & Trust FSB purchased a new stake in Main Street Capital in the second quarter valued at approximately $28,000. Confluence Investment Management LLC lifted its stake in Main Street Capital by 2.8% in the second quarter. Confluence Investment Management LLC now owns 93,486 shares of the financial services provider’s stock valued at $4,850,000 after buying an additional 2,528 shares during the last quarter. Finally, Western Wealth Management LLC acquired a new stake in shares of Main Street Capital in the first quarter valued at approximately $139,000. 20.31% of the stock is owned by hedge funds and other institutional investors.

About Main Street Capital

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.