Main Street Capital Co. (NYSE:MAIN) Raises Dividend to $0.30 Per Share

Main Street Capital Co. (NYSE:MAIN) announced 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 dividend 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 decline. 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 Price Performance

Shares of MAIN stock opened at $57.45 on Tuesday. The stock has a 50 day moving average of $54.80 and a two-hundred day moving average of $57.00. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. Main Street Capital has a 12 month low of $45.00 and a 12 month high of $63.32. The company has a market capitalization of $5.11 billion, a P/E ratio of 10.41 and a beta of 0.82.

Main Street Capital (NYSE:MAIN) last posted its earnings results on Thursday, May 8th. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $1.00 by $0.01. The business had revenue of $137.05 million during the quarter, compared to the consensus estimate of $137.50 million. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. As a group, equities analysts expect that Main Street Capital will post 4.11 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Truist Financial cut their target price on Main Street Capital from $62.00 to $54.00 and set a “hold” rating for the company in a research report on Monday, May 12th. Oppenheimer restated a “market perform” rating on shares of Main Street Capital in a research report on Tuesday, May 13th. UBS Group cut their target price 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. Finally, Wall Street Zen downgraded Main Street Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Main Street Capital presently has a consensus rating of “Hold” and an average price target of $52.80.

Insider Activity at Main Street Capital

In related news, CEO Dwayne L. Hyzak sold 120,000 shares of the firm’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the completion of the sale, the chief executive officer now directly 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 document filed with the SEC, which is available at this hyperlink. Also, insider David L. Magdol sold 100,000 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 377,182 shares of the company’s stock, valued at $21,895,415.10. This represents a 20.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Main Street Capital

A hedge fund recently bought a new stake in Main Street Capital stock. Brighton Jones LLC bought a new stake in Main Street Capital Co. (NYSE:MAIN) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,185 shares of the financial services provider’s stock, valued at approximately $304,000. 20.31% of the stock is owned by institutional investors and hedge funds.

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.