Main Street Capital Corp. (NYSE:MAIN) announced a monthly dividend on Wednesday, August 3rd. Investors of record on Thursday, October 20th will be given a dividend of 0.185 per share on Tuesday, November 15th. This represents a $2.22 dividend on an annualized basis and a dividend yield of 6.45%. The ex-dividend date is Tuesday, October 18th.
Shares of Main Street Capital Corp. (NYSE:MAIN) opened at 34.43 on Thursday. The firm has a market cap of $1.81 billion, a P/E ratio of 22.94 and a beta of 0.83. Main Street Capital Corp. has a 12-month low of $24.21 and a 12-month high of $34.75. The company’s 50 day moving average price is $34.29 and its 200-day moving average price is $32.88.
Main Street Capital Corp. (NYSE:MAIN) last released its quarterly earnings data on Monday, August 8th. The company reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. Main Street Capital Corp. had a return on equity of 10.30% and a net margin of 44.40%. The business had revenue of $42.90 million for the quarter, compared to the consensus estimate of $43.48 million. During the same quarter in the prior year, the business posted $0.55 EPS. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities research analysts anticipate that Main Street Capital Corp. will post $2.16 EPS for the current year.
In related news, Chairman Vincent D. Foster acquired 2,764 shares of the firm’s stock in a transaction on Friday, July 15th. The stock was bought at an average cost of $33.01 per share, with a total value of $91,239.64. Following the transaction, the chairman now owns 1,527,417 shares of the company’s stock, valued at $50,420,035.17. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.69% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Advisor Group Inc. bought a new stake in Main Street Capital Corp. during the second quarter worth $1,498,000. BlackRock Group LTD boosted its stake in Main Street Capital Corp. by 14.6% in the second quarter. BlackRock Group LTD now owns 252,769 shares of the company’s stock worth $8,303,000 after buying an additional 32,142 shares during the last quarter. Stratos Wealth Partners LTD. boosted its stake in Main Street Capital Corp. by 157.0% in the second quarter. Stratos Wealth Partners LTD. now owns 35,404 shares of the company’s stock worth $1,163,000 after buying an additional 21,630 shares during the last quarter. Van ECK Associates Corp boosted its stake in Main Street Capital Corp. by 13.4% in the second quarter. Van ECK Associates Corp now owns 166,511 shares of the company’s stock worth $5,470,000 after buying an additional 19,643 shares during the last quarter. Finally, Texas Yale Capital Corp. boosted its stake in Main Street Capital Corp. by 14.6% in the second quarter. Texas Yale Capital Corp. now owns 37,643 shares of the company’s stock worth $1,237,000 after buying an additional 4,800 shares during the last quarter. 26.77% of the stock is owned by institutional investors.
MAIN has been the topic of a number of recent analyst reports. Wunderlich increased their price objective on Main Street Capital Corp. from $34.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Zacks Investment Research upgraded Main Street Capital Corp. from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Tuesday, July 19th. National Securities restated a “neutral” rating and set a $33.00 price target on shares of Main Street Capital Corp. in a research note on Wednesday, August 10th. Robert W. Baird restated an “outperform” rating and set a $37.00 price target (up previously from $36.00) on shares of Main Street Capital Corp. in a research note on Wednesday, August 17th. Finally, RBC Capital Markets restated an “outperform” rating and set a $35.00 price target (up previously from $32.00) on shares of Main Street Capital Corp. in a research note on Saturday, August 13th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Main Street Capital Corp. currently has an average rating of “Buy” and a consensus target price of $35.86.
About Main Street Capital Corp.
Main Street Capital Corporation (MSCC) is a principal investment firm. MSCC is primarily focused on providing customized debt and equity financing to lower middle market (LMM) companies and debt capital to middle market (Middle Market) companies. The Company’s portfolio investments are made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in various industry sectors.
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