Main Street Capital Corporation (NYSE:MAIN) to Issue Quarterly Dividend of $0.30

Main Street Capital Corporation (NYSE:MAIN) declared a quarterly dividend on Monday, August 4th, investing.com reports. Investors of record on Wednesday, October 8th will be paid 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 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 decline. 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%

Shares of NYSE:MAIN opened at $62.98 on Monday. Main Street Capital has a 52-week low of $47.00 and a 52-week high of $67.77. The firm has a fifty day moving average of $65.14 and a 200 day moving average of $59.81. The firm has a market capitalization of $5.63 billion, a PE ratio of 10.38 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09.

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

Insiders Place Their Bets

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $67.15, for a total value of $940,100.00. Following the sale, the director owned 82,383 shares in the company, valued at approximately $5,532,018.45. This represents 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 this link. 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 bought and sold shares of MAIN. Brighton Jones LLC purchased a new stake in shares of Main Street Capital during the fourth quarter valued at approximately $304,000. GAMMA Investing LLC grew its holdings in Main Street Capital by 5,557.9% during the first quarter. GAMMA Investing LLC now owns 1,075 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 1,056 shares during the period. NBC Securities Inc. purchased a new position in Main Street Capital during the first quarter valued at approximately $54,000. Merit Financial Group LLC purchased a new stake in Main Street Capital in the 1st quarter worth $212,000. Finally, Park Avenue Securities LLC lifted its position in shares of Main Street Capital by 89.6% in the first quarter. Park Avenue Securities LLC now owns 7,186 shares of the financial services provider’s stock valued at $406,000 after acquiring an additional 3,396 shares in 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.