Kaizen Financial Strategies Invests $213,000 in Main Street Capital Co. (NYSE:MAIN)

Kaizen Financial Strategies acquired a new position in shares of Main Street Capital Co. (NYSE:MAIN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,632 shares of the financial services provider’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MAIN. Van ECK Associates Corp grew its holdings in shares of Main Street Capital by 7.8% during the fourth quarter. Van ECK Associates Corp now owns 1,288,309 shares of the financial services provider’s stock worth $75,469,000 after purchasing an additional 92,833 shares during the last quarter. Adell Harriman & Carpenter Inc. grew its holdings in Main Street Capital by 1.5% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 425,552 shares of the financial services provider’s stock worth $24,929,000 after acquiring an additional 6,297 shares during the last quarter. LPL Financial LLC increased its position in Main Street Capital by 1.6% in the 4th quarter. LPL Financial LLC now owns 299,165 shares of the financial services provider’s stock valued at $17,525,000 after acquiring an additional 4,740 shares during the period. Paradiem LLC raised its stake in shares of Main Street Capital by 0.3% during the fourth quarter. Paradiem LLC now owns 280,593 shares of the financial services provider’s stock valued at $16,437,000 after acquiring an additional 732 shares during the last quarter. Finally, Muzinich & Co. Inc. lifted its holdings in shares of Main Street Capital by 5.0% during the fourth quarter. Muzinich & Co. Inc. now owns 222,977 shares of the financial services provider’s stock worth $13,062,000 after purchasing an additional 10,593 shares during the period. Institutional investors and hedge funds own 20.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Truist Financial raised their target price on Main Street Capital from $52.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 3rd. UBS Group lowered their price objective on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Main Street Capital has a consensus rating of “Hold” and an average target price of $52.60.

Insider Transactions at Main Street Capital

In other Main Street Capital news, insider David L. Magdol sold 100,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $5,805,000.00. Following the transaction, the insider now owns 377,182 shares in the company, valued at approximately $21,895,415.10. This represents a 20.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $6,966,000.00. Following the sale, the chief executive officer now owns 402,371 shares of the company’s stock, valued at approximately $23,357,636.55. This represents a 22.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Main Street Capital Stock Down 0.4 %

Shares of NYSE:MAIN opened at $52.82 on Friday. Main Street Capital Co. has a 1 year low of $45.00 and a 1 year high of $63.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08. The business’s 50-day moving average is $54.72 and its 200-day moving average is $56.29. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 9.57 and a beta of 0.86.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The firm had revenue of $137.05 million for the quarter, compared to analysts’ expectations of $137.50 million. Equities research analysts predict that Main Street Capital Co. will post 4.11 earnings per share for the current year.

Main Street Capital Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $3.06 annualized dividend and a dividend yield of 5.79%. This is a positive change from Main Street Capital’s previous monthly dividend of $0.25. Main Street Capital’s dividend payout ratio is currently 51.37%.

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.