Main Street Capital (NYSE:MAIN) Trading Up 0.6% Following Dividend Announcement

Main Street Capital Co. (NYSE:MAIN) traded up 0.6% on Thursday after the company announced a dividend. The company traded as high as $50.98 and last traded at $50.95. 61,958 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 346,193 shares. The stock had previously closed at $50.63.

The newly announced dividend which will be paid on Monday, July 15th. Stockholders of record on Monday, July 8th will be issued a $0.245 dividend. This is a positive change from Main Street Capital’s previous monthly dividend of $0.24. The ex-dividend date of this dividend is Monday, July 8th. This represents a $2.94 annualized dividend and a dividend yield of 5.78%. Main Street Capital’s dividend payout ratio is presently 55.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Oppenheimer upped their price target on Main Street Capital from $41.00 to $43.00 and gave the company a “market perform” rating in a research note on Monday, February 26th. UBS Group lifted their price objective on Main Street Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Royal Bank of Canada lifted their target price on Main Street Capital from $48.00 to $52.00 and gave the company an “outperform” rating in a research report on Tuesday, April 30th. Finally, Truist Financial raised their price target on Main Street Capital from $43.00 to $45.00 and gave the company a “hold” rating in a report on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $46.17.

Main Street Capital Trading Up 0.5 %

The stock has a market capitalization of $4.32 billion, a P/E ratio of 9.76 and a beta of 1.25. The firm’s 50 day simple moving average is $47.37 and its two-hundred day simple moving average is $44.40. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.14.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $129.31 million during the quarter, compared to analyst estimates of $125.52 million. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. As a group, analysts forecast that Main Street Capital Co. will post 4.07 earnings per share for the current fiscal year.

Institutional Trading of Main Street Capital

Institutional investors have recently made changes to their positions in the company. LifeSteps Financial Inc. bought a new stake in Main Street Capital in the 1st quarter worth about $35,000. Nomura Asset Management Co. Ltd. increased its stake in shares of Main Street Capital by 73.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,139 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 483 shares during the last quarter. Signaturefd LLC grew its stake in shares of Main Street Capital by 157.9% during the 3rd quarter. Signaturefd LLC now owns 1,220 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 747 shares during the period. Scarborough Advisors LLC purchased a new position in shares of Main Street Capital in the fourth quarter worth about $72,000. Finally, Newbridge Financial Services Group Inc. lifted its position in shares of Main Street Capital by 32.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,733 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 420 shares in the last quarter. Institutional investors own 20.31% 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.