Main Street Capital Co. (NYSE:MAIN – Get Rating) announced a monthly dividend on Friday, November 4, reports The Wall Street Journal. Investors of record on Wednesday, March 8 will receive a dividend of 0.225 per share from the financial services provider on Wednesday, March 15. This represents a dividend of $2.70 on an annualized basis and a dividend yield of 6.93%. The ex-dividend date is Tuesday, March 7.
Main Street Capital has decreased its dividend by an average of 3.1% per year over the past three years and has increased its dividend annually for the past 10 consecutive years. Main Street Capital has a dividend payout ratio of 82.2%, which means its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Stock analysts expect Main Street Capital to earn $3.17 per share next year, meaning the company should continue to be able to cover its annual dividend of $2.64 with a ratio of expected future payout of 83.3%.
Main Street Capital Stock Performance
Shares of MAIN rose $1.57 during Friday trading hours, hitting $38.96. The company’s stock had a trading volume of 19,465 shares, compared to an average volume of 334,937. The stock has a market capitalization of $2.84 billion, a PE ratio of 10.78 and a beta of 1. ,33. Main Street Capital has a 12-month low of $31.66 and a 12-month high of $47.13. The company has a 50-day moving average of $37.04 and a 200-day moving average of $39.14. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt ratio of 0.18.
Main Street Capital (NYSE:MAIN – Get Rating) last reported quarterly results on Thursday, August 4. The financial services provider reported earnings per share of $0.75 for the quarter, beating the consensus estimate of $0.70 by $0.05. The company posted revenue of $85.20 million for the quarter, versus a consensus estimate of $81.34 million. Main Street Capital had a return on equity of 11.67% and a net margin of 79.82%. On average, sell-side analysts expect Main Street Capital to post 3.01 EPS for the current fiscal year.
Wall Street analysts predict growth
MAIN has been the subject of several analyst reports. The Hovde Group lowered its target price on Main Street Capital shares to $40.00 in a Wednesday, October 5 research note. StockNews.com began covering Main Street Capital in a research report on Wednesday, October 12. They set a “hold” rating on the stock. Raymond James downgraded shares of Main Street Capital from an “outperform” rating to a “market performer” rating in a research report Monday, Aug. 8. Finally, TheStreet downgraded shares of Main Street Capital from a “b-” rating to a “c+” rating in a Friday, September 23 research report. Four research analysts rated the stock with a hold rating and one assigned the company a buy rating. According to data from MarketBeat.com, Main Street Capital has an average rating of “Hold” and an average target price of $44.50.
Institutional investors weigh in on Main Street Capital
Hedge funds and other institutional investors have recently changed their positions in the stock. Mutual Advisors LLC increased its stake in Main Street Capital by 4.9% during the second quarter. Mutual Advisors LLC now owns 5,900 shares of the financial services provider worth $227,000 after purchasing an additional 273 shares during the period. First Republic Investment Management Inc. increased its position in Main Street Capital shares by 0.9% during the second quarter. First Republic Investment Management Inc. now owns 34,031 shares of the financial services provider valued at $1,311,000 after buying 317 additional shares during the period. Guggenheim Capital LLC increased its holdings in Main Street Capital by 6.4% in the first quarter. Guggenheim Capital LLC now owns 7,550 shares of the financial services provider valued at $322,000 after acquiring 457 additional shares in the last quarter. PNC Financial Services Group Inc. increased its position in Main Street Capital by 11.9% in the first quarter. PNC Financial Services Group Inc. now owns 8,504 shares of the financial services provider worth $363,000 after acquiring an additional 904 shares during the period. Finally, Wells Fargo & Company MN increased its position in Main Street Capital by 2.4% in the second quarter. Wells Fargo & Company MN now owns 84,602 shares of the financial services provider valued at $3,260,000 after purchasing an additional 1,995 shares during the period. Institutional investors and hedge funds hold 19.11% of the company’s shares.
About Main Street Capital
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Main Street Capital Corporation is a business development firm specializing in equity capital for lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature and subsequent emerging growth.
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