Main Street Capital Co. (NYSE:MAIN) Plans Special Dividend of $0.28

Main Street Capital Co. (NYSE:MAIN) announced a Special dividend on Tuesday, August 1st, investing.com reports. Shareholders of record on Friday, October 6th will be paid a dividend of 0.275 per share by the financial services provider on Friday, October 13th. This represents a yield of 8.47%. The ex-dividend date of this dividend is Thursday, October 5th. This is a boost from Main Street Capital’s previous Special dividend of $0.23.

Main Street Capital has increased its dividend by an average of 2.3% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. Main Street Capital has a payout ratio of 72.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Main Street Capital to earn $3.88 per share next year, which means the company should continue to be able to cover its $2.82 annual dividend with an expected future payout ratio of 72.7%.

Main Street Capital Price Performance

NYSE:MAIN traded down $0.49 on Tuesday, reaching $39.75. 432,701 shares of the company’s stock traded hands, compared to its average volume of 355,347. Main Street Capital has a 12 month low of $31.66 and a 12 month high of $43.15. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.28 billion, a PE ratio of 8.95 and a beta of 1.26. The stock has a 50-day simple moving average of $40.82 and a 200-day simple moving average of $40.14.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, August 3rd. The financial services provider reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. The firm had revenue of $127.58 million during the quarter, compared to analyst estimates of $120.03 million. Main Street Capital had a net margin of 75.58% and a return on equity of 14.33%. Equities research analysts forecast that Main Street Capital will post 4.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Hovde Group raised Main Street Capital from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research note on Friday, June 30th. Oppenheimer reiterated a “market perform” rating and set a $41.00 price objective on shares of Main Street Capital in a research report on Monday, August 7th. B. Riley upped their target price on shares of Main Street Capital from $46.00 to $47.00 in a research report on Monday, August 7th. Finally, StockNews.com initiated coverage on Main Street Capital in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $43.67.

Institutional Investors Weigh In On Main Street Capital

Several hedge funds and other institutional investors have recently modified their holdings of the business. Mutual Advisors LLC boosted its position in Main Street Capital by 4.9% in the 2nd quarter. Mutual Advisors LLC now owns 5,900 shares of the financial services provider’s stock valued at $227,000 after buying an additional 273 shares during the period. First Republic Investment Management Inc. boosted its holdings in shares of Main Street Capital by 0.9% in the second quarter. First Republic Investment Management Inc. now owns 34,031 shares of the financial services provider’s stock valued at $1,311,000 after purchasing an additional 317 shares during the period. Harbour Investments Inc. grew its stake 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 purchasing an additional 356 shares in the last quarter. Baird Financial Group Inc. increased its holdings in Main Street Capital by 1.3% during the 3rd quarter. Baird Financial Group Inc. now owns 31,851 shares of the financial services provider’s stock worth $1,071,000 after purchasing an additional 417 shares during the period. Finally, Guggenheim Capital LLC raised its position in 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 purchasing an additional 432 shares in the last quarter. 20.20% of the stock is currently owned by hedge funds and other institutional investors.

Main Street Capital Company Profile

Main Street Capital Corporation is a business development company 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.