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

Main Street Capital Corporation (NYSE:MAIN) declared 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) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Wednesday, October 8th.

Main Street Capital has a payout ratio of 78.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities 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

MAIN opened at $62.98 on Monday. The company has a market capitalization of $5.63 billion, a price-to-earnings 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 company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The firm’s fifty day moving average price is $65.14 and its two-hundred day moving average price is $59.81.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, hitting analysts’ consensus estimates of $0.99. The company had revenue of $143.97 million for the quarter, compared to analysts’ expectations 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, analysts anticipate that Main Street Capital will post 4.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Main Street Capital

In other news, Director Nicholas Meserve sold 14,000 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total value of $940,100.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.00% of the company’s stock.

Institutional Trading of Main Street Capital

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC lifted its position in Main Street Capital by 109.6% in the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 250 shares during the last quarter. Financial Network Wealth Advisors LLC bought a new position in shares of Main Street Capital during the first quarter valued at approximately $39,000. Spire Wealth Management bought a new position in Main Street Capital in the first quarter worth $40,000. Wellington Shields & Co. LLC bought a new position in Main Street Capital in the first quarter worth $41,000. Finally, Quarry LP bought a new position in Main Street Capital in the first quarter worth $48,000. 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.