Main Street Capital Corporation (NYSE:MAIN) Plans $0.30 Quarterly Dividend

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 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 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. The firm had revenue of $143.97 million during the quarter, compared to the consensus estimate of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. As a group, research analysts anticipate that Main Street Capital will post 4.11 EPS for the current year.

Insider Activity

In other news, Director Nicholas Meserve sold 14,000 shares of the business’s stock in a transaction dated 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 sale, the director owned 82,383 shares of the company’s stock, valued at approximately $5,532,018.45. The trade was a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in Main Street Capital by 1.2% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 15,889 shares of the financial services provider’s stock valued at $939,000 after purchasing an additional 193 shares during the last quarter. Freedom Financial Partners LLC boosted its stake in Main Street Capital by 4.5% during the 2nd quarter. Freedom Financial Partners LLC now owns 5,100 shares of the financial services provider’s stock valued at $301,000 after purchasing an additional 218 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in Main Street Capital by 2.4% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 9,520 shares of the financial services provider’s stock valued at $538,000 after purchasing an additional 221 shares during the last quarter. Uncommon Cents Investing LLC boosted its stake in Main Street Capital by 1.4% during the 1st quarter. Uncommon Cents Investing LLC now owns 16,206 shares of the financial services provider’s stock valued at $917,000 after purchasing an additional 231 shares during the last quarter. Finally, Sigma Planning Corp lifted its holdings in shares of Main Street Capital by 0.5% during the 1st quarter. Sigma Planning Corp now owns 44,942 shares of the financial services provider’s stock valued at $2,542,000 after buying an additional 236 shares during the period. 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.