Main Street Capital Co. (NYSE:MAIN) to Issue Dividend of $0.30

Main Street Capital Co. (NYSE:MAIN) declared a dividend on Tuesday, June 17th, investing.com reports. Shareholders of record on Monday, June 23rd will be paid a dividend of 0.30 per share by the financial services provider on Friday, June 27th. This represents a yield of 7.26%. The ex-dividend date of this dividend is Friday, June 20th. This is a 20.0% increase from Main Street Capital’s previous dividend of $0.25.

Main Street Capital has a dividend payout ratio of 78.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Main Street Capital to earn $4.06 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 73.9%.

Main Street Capital Stock Performance

Shares of MAIN stock opened at $57.45 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08. Main Street Capital has a fifty-two week low of $45.00 and a fifty-two week high of $63.32. The stock’s 50-day moving average is $54.80 and its two-hundred day moving average is $57.00. The firm has a market cap of $5.11 billion, a P/E ratio of 10.41 and a beta of 0.82.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $137.05 million for the quarter, compared to analyst estimates of $137.50 million. Analysts predict that Main Street Capital will post 4.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Main Street Capital

In other Main Street Capital news, CEO Dwayne L. Hyzak sold 120,000 shares of the firm’s 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 $6,966,000.00. Following the sale, the chief executive officer now owns 402,371 shares of the company’s stock, valued at $23,357,636.55. This trade represents a 22.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider David L. Magdol sold 100,000 shares of the firm’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 $5,805,000.00. Following the completion of the sale, the insider now directly owns 377,182 shares in the company, valued at $21,895,415.10. This trade represents a 20.96% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Institutional Trading of Main Street Capital

An institutional investor recently raised its position in Main Street Capital stock. NewEdge Advisors LLC grew its position in Main Street Capital Co. (NYSE:MAIN) by 5,416.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,655 shares of the financial services provider’s stock after acquiring an additional 1,625 shares during the quarter. NewEdge Advisors LLC’s holdings in Main Street Capital were worth $94,000 as of its most recent SEC filing. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on MAIN shares. Truist Financial lowered their price objective on Main Street Capital from $62.00 to $54.00 and set a “hold” rating on the stock in a report on Monday, May 12th. UBS Group lowered their price objective on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Oppenheimer reissued a “market perform” rating on shares of Main Street Capital in a report on Tuesday, May 13th. Finally, Wall Street Zen lowered Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $52.80.

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.