Main Street Capital Co. (NYSE:MAIN – Get Rating) declared a dividend on Tuesday, May 3rd, Fidelity reports. Stockholders of record on Wednesday, June 22nd will be given a dividend of 0.075 per share by the financial services provider on Thursday, June 30th. The ex-dividend date of this dividend is Tuesday, June 21st.
Main Street Capital has decreased its dividend by an average of 3.1% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Main Street Capital has a dividend payout ratio of 81.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Main Street Capital to earn $3.09 per share next year, which means the company should continue to be able to cover its $2.58 annual dividend with an expected future payout ratio of 83.5%.
MAIN stock opened at $35.63 on Friday. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.18. The firm has a market cap of $2.60 billion, a P/E ratio of 7.33, a P/E/G ratio of 1.54 and a beta of 1.33. Main Street Capital has a 12-month low of $34.35 and a 12-month high of $47.13. The stock’s 50 day simple moving average is $38.98 and its 200 day simple moving average is $41.59.
In related news, insider David L. Magdol sold 50,000 shares of the stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $42.46, for a total value of $2,123,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dwayne L. Hyzak sold 50,010 shares of the firm’s stock in a transaction dated Wednesday, March 30th. The stock was sold at an average price of $42.45, for a total value of $2,122,924.50. The disclosure for this sale can be found here. Company insiders own 4.56% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in MAIN. Bank of America Corp DE grew its position in Main Street Capital by 5.7% during the second quarter. Bank of America Corp DE now owns 23,498 shares of the financial services provider’s stock valued at $966,000 after purchasing an additional 1,266 shares in the last quarter. Morgan Stanley lifted its stake in Main Street Capital by 24.5% in the second quarter. Morgan Stanley now owns 538,140 shares of the financial services provider’s stock valued at $22,112,000 after acquiring an additional 106,040 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Main Street Capital by 7.0% in the third quarter. Bank of New York Mellon Corp now owns 125,670 shares of the financial services provider’s stock valued at $5,165,000 after acquiring an additional 8,233 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in Main Street Capital in the fourth quarter valued at approximately $38,000. Finally, Credit Suisse AG acquired a new stake in Main Street Capital in the fourth quarter valued at approximately $426,000. 17.21% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have weighed in on MAIN. Hovde Group dropped their target price on Main Street Capital to $37.00 in a research report on Friday, May 20th. TheStreet lowered Main Street Capital from a “b” rating to a “c+” rating in a research report on Friday, February 25th. Finally, StockNews.com initiated coverage on Main Street Capital in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $42.80.
About Main Street Capital (Get Rating)
Main Street Capital Corporation is a private equity firm 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.
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