Main Street Capital Co. (NYSE:MAIN) to Issue Dividend of $0.18

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

Main Street Capital has increased its dividend payment by an average of 2.4% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Main Street Capital has a payout ratio of 71.6% meaning its dividend is sufficiently covered by earnings. Research 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 Trading Down 1.1 %

Shares of Main Street Capital stock opened at $38.48 on Friday. The firm has a market cap of $3.06 billion, a price-to-earnings 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 quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.16. Main Street Capital has a twelve month low of $31.66 and a twelve month high of $45.67.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Main Street Capital

Several institutional investors have recently added to or reduced their stakes in MAIN. Coppell Advisory Solutions Corp. purchased a new position in shares of Main Street Capital during the fourth quarter worth approximately $203,000. Harbour Investments Inc. increased its position in shares of Main Street Capital by 15.6% during 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. Steward Partners Investment Advisory LLC increased its position in shares of Main Street Capital by 30.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,355 shares of the financial services provider’s stock worth $272,000 after acquiring an additional 1,700 shares during the period. CI Private Wealth LLC purchased a new position in shares of Main Street Capital during the fourth quarter worth approximately $354,000. Finally, WealthPLAN Partners LLC purchased a new position in shares of Main Street Capital during the fourth quarter worth approximately $965,000. Institutional investors own 18.79% of the company’s stock.

Main Street Capital Company Profile

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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.