Main Street Capital Corporation (MAIN) to Issue Quarterly Dividend of $0.30 on October 15th

Main Street Capital Corporation (NYSE:MAIN) announced a quarterly dividend on Monday, August 4th, investing.com reports. Shareholders of record on Wednesday, October 8th will be given a dividend of 0.30 per share by the financial services provider on Wednesday, October 15th. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 8th.

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 fall. Equities research 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 Down 1.5%

MAIN stock opened at $62.98 on Monday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $5.63 billion, a PE ratio of 10.38 and a beta of 0.87. Main Street Capital has a 1-year low of $47.00 and a 1-year high of $67.77. The business’s 50 day simple moving average is $65.14 and its 200 day simple moving average is $59.81.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.99. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%.The firm had revenue of $143.97 million during the quarter, compared to the consensus estimate of $137.23 million. As a group, research analysts anticipate that Main Street Capital will post 4.11 EPS for the current year.

Insider Buying and Selling at Main Street Capital

In other news, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $67.15, for a total value of $940,100.00. Following the completion of the transaction, the director directly owned 82,383 shares in the company, valued at approximately $5,532,018.45. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Main Street Capital

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in Main Street Capital by 50.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,261 shares of the financial services provider’s stock valued at $468,000 after purchasing an additional 2,756 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Main Street Capital by 10.1% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 242,857 shares of the financial services provider’s stock worth $13,736,000 after acquiring an additional 22,340 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Main Street Capital in the 1st quarter worth approximately $578,000. Segment Wealth Management LLC grew its stake in shares of Main Street Capital by 134.3% in the 1st quarter. Segment Wealth Management LLC now owns 117,994 shares of the financial services provider’s stock worth $6,674,000 after buying an additional 67,626 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in Main Street Capital during the 1st quarter valued at $6,205,000. Institutional investors own 20.31% of the company’s stock.

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.