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

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 is Wednesday, October 8th.

Main Street Capital has a 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. 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. The firm has a market cap of $5.63 billion, a PE ratio of 10.38 and a beta of 0.87. The company has a fifty day simple moving average of $65.14 and a 200 day simple moving average of $59.81. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. Main Street Capital has a 12-month low of $47.00 and a 12-month high of $67.77.

Main Street Capital (NYSE:MAIN) last issued its quarterly 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 business 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%. On average, equities research analysts anticipate that Main Street Capital will post 4.11 EPS for the current fiscal year.

Insider Activity at Main Street Capital

In related news, Director Nicholas Meserve sold 14,000 shares of the firm’s 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 of the company’s stock, valued at $5,532,018.45. This trade 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 is available through this hyperlink. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Main Street Capital

Hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its position in shares of Main Street Capital by 109.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 250 shares in the last quarter. Financial Network Wealth Advisors LLC bought a new stake in Main Street Capital during the 1st quarter worth about $39,000. Spire Wealth Management bought a new position in shares of Main Street Capital in the first quarter worth about $40,000. Wellington Shields & Co. LLC acquired a new stake in shares of Main Street Capital in the first quarter valued at approximately $41,000. Finally, Quarry LP bought a new position in Main Street Capital in the 1st quarter worth approximately $48,000. Institutional investors and hedge funds 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.