Main Street Capital Co. (MAIN) to Issue Dividend of $0.18 on March 28th

Main Street Capital Co. (NYSE:MAIN – Get Rating) announced a dividend on Tuesday, February 21st, NASDAQ reports. Investors of record on Tuesday, March 21st will be given a dividend of 0.175 per share by the financial services provider on Tuesday, March 28th. The ex-dividend date of this dividend is Monday, March 20th. This is a boost from Main Street Capital’s previous dividend of $0.08.

Main Street Capital has increased its dividend payment by an average of 2.4% per year over the last three years and has raised its dividend every year for the last 11 years. Main Street Capital has a dividend payout ratio of 71.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Main Street Capital to earn $3.82 per share next year, which means the company should continue to be able to cover its $2.70 annual dividend with an expected future payout ratio of 70.7%.

Main Street Capital Stock Down 1.1 %

MAIN opened at $38.48 on Friday. Main Street Capital has a twelve month low of $31.66 and a twelve month high of $45.67. The firm has a market cap of $3.06 billion, a P/E ratio of 11.95 and a beta of 1.31. The business has a 50 day moving average price of $39.67 and a 200 day moving average price of $38.02. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.07 and a current ratio of 0.07.

Institutional Investors Weigh In On Main Street Capital

A number of institutional investors have recently modified their holdings of the company. Mutual Advisors LLC increased its stake in Main Street Capital by 4.9% in the second quarter. Mutual Advisors LLC now owns 5,900 shares of the financial services provider’s stock valued at $227,000 after purchasing an additional 273 shares in the last quarter. First Republic Investment Management Inc. boosted its holdings in Main Street Capital by 0.9% during the second quarter. First Republic Investment Management Inc. now owns 34,031 shares of the financial services provider’s stock worth $1,311,000 after purchasing an additional 317 shares during the last quarter. Harbour Investments Inc. raised its position in Main Street Capital by 15.6% in the fourth quarter. Harbour Investments Inc. now owns 2,636 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 356 shares during the period. Baird Financial Group Inc. raised its position in Main Street Capital by 1.3% in the third quarter. Baird Financial Group Inc. now owns 31,851 shares of the financial services provider’s stock worth $1,071,000 after acquiring an additional 417 shares during the period. Finally, Guggenheim Capital LLC lifted its stake in shares of Main Street Capital by 5.7% during the 3rd quarter. Guggenheim Capital LLC now owns 8,001 shares of the financial services provider’s stock valued at $269,000 after buying an additional 432 shares in the last quarter. 18.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MAIN shares. StockNews.com started coverage on Main Street Capital in a report on Thursday. They set a “hold” rating for the company. Truist Financial boosted their price objective on Main Street Capital from $40.00 to $43.00 and gave the company a “hold” rating in a research report on Tuesday, February 28th. UBS Group began coverage on Main Street Capital in a research report on Monday, December 19th. They issued a “neutral” rating and a $40.00 price target on the stock. TheStreet upgraded Main Street Capital from a “c+” rating to a “b-” rating in a report on Monday, February 6th. Finally, Oppenheimer upped their price target on Main Street Capital from $39.00 to $41.00 and gave the company a “market perform” rating in a research note on Monday, February 27th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.50.

About Main Street Capital

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Main Street Capital is a principal investment firm that provides long-term debt and equity capital to lower middle market companies. Main Street’s investments are primarily made to support management buyouts, recapitalizations, growth financings and acquisitions of companies that operate in diverse industry sectors and generally have annual revenues ranging from $10 million to $100 million.