Main Street Capital (NYSE:MAIN) Hits New 1-Year High at $47.89

Shares of Main Street Capital Co. (NYSE:MAIN) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $47.89 and last traded at $47.85, with a volume of 82283 shares changing hands. The stock had previously closed at $47.62.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Oppenheimer raised their price target on shares of Main Street Capital from $41.00 to $43.00 and gave the company a “market perform” rating in a research report on Monday, February 26th. UBS Group raised their price target on shares of Main Street Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Truist Financial raised their price target on shares of Main Street Capital from $43.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, February 26th. B. Riley downgraded shares of Main Street Capital from a “buy” rating to a “neutral” rating and set a $47.00 price target for the company. in a research report on Monday, January 8th. Finally, Royal Bank of Canada raised their price target on shares of Main Street Capital from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $45.50.

Main Street Capital Stock Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.09 and a current ratio of 0.09. The firm has a market cap of $4.14 billion, a P/E ratio of 9.33 and a beta of 1.29. The business’s 50-day simple moving average is $46.34 and its 200 day simple moving average is $43.66.

Main Street Capital (NYSE:MAIN) last posted its earnings results on Thursday, February 22nd. The financial services provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. The business had revenue of $129.31 million during the quarter, compared to the consensus estimate of $125.52 million. As a group, equities analysts predict that Main Street Capital Co. will post 4.07 earnings per share for the current year.

Main Street Capital Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 20th were given a $0.30 dividend. This represents a yield of 8.37%. The ex-dividend date was Tuesday, March 19th. This is an increase from Main Street Capital’s previous dividend of $0.24. Main Street Capital’s payout ratio is 55.17%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Main Street Capital by 2.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,435,508 shares of the financial services provider’s stock worth $148,518,000 after acquiring an additional 71,698 shares during the last quarter. Burgundy Asset Management Ltd. boosted its stake in shares of Main Street Capital by 5.2% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,073,767 shares of the financial services provider’s stock worth $46,419,000 after acquiring an additional 53,232 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Main Street Capital by 10.1% during the 4th quarter. Van ECK Associates Corp now owns 886,026 shares of the financial services provider’s stock worth $38,303,000 after acquiring an additional 80,963 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Main Street Capital by 1.4% during the 3rd quarter. Legal & General Group Plc now owns 588,490 shares of the financial services provider’s stock worth $23,902,000 after acquiring an additional 8,091 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its stake in shares of Main Street Capital by 2.2% during the 1st quarter. Sound Income Strategies LLC now owns 359,773 shares of the financial services provider’s stock worth $17,021,000 after acquiring an additional 7,790 shares during the last quarter. Hedge funds and other institutional investors own 20.31% of the company’s stock.

About Main Street Capital

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.