Franklin Resources Inc. Buys 35,227 Shares of Main Street Capital Co. (NYSE:MAIN)

Franklin Resources Inc. boosted its position in Main Street Capital Co. (NYSE:MAIN) by 19.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 217,461 shares of the financial services provider’s stock after buying an additional 35,227 shares during the quarter. Franklin Resources Inc. owned approximately 0.25% of Main Street Capital worth $11,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in MAIN. Susquehanna Fundamental Investments LLC increased its holdings in Main Street Capital by 238.5% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 34,020 shares of the financial services provider’s stock worth $1,718,000 after acquiring an additional 23,970 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Main Street Capital by 9.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 209,924 shares of the financial services provider’s stock valued at $10,526,000 after purchasing an additional 18,059 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Main Street Capital by 188.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 20,176 shares of the financial services provider’s stock valued at $1,012,000 after buying an additional 13,177 shares in the last quarter. Muzinich & Co. Inc. boosted its holdings in Main Street Capital by 9.3% in the 3rd quarter. Muzinich & Co. Inc. now owns 212,384 shares of the financial services provider’s stock worth $10,649,000 after buying an additional 18,059 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new position in Main Street Capital in the 3rd quarter valued at approximately $1,029,000. 20.31% of the stock is currently owned by institutional investors.

Main Street Capital Stock Performance

NYSE:MAIN opened at $56.40 on Friday. Main Street Capital Co. has a twelve month low of $42.53 and a twelve month high of $56.87. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. The stock has a market cap of $4.97 billion, a P/E ratio of 10.22 and a beta of 1.30. The business’s 50-day moving average price is $53.29 and its two-hundred day moving average price is $51.12.

Main Street Capital Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 20th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, December 20th. Main Street Capital’s dividend payout ratio is presently 53.26%.

Analyst Ratings Changes

Separately, B. Riley boosted their price objective on Main Street Capital from $49.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Main Street Capital has an average rating of “Hold” and a consensus price target of $48.80.

Main Street Capital 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.