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

Main Street Capital Corporation (NYSE:MAIN) announced a quarterly dividend on Monday, August 4th, investing.com reports. Stockholders 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 dividend 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. 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 Trading Down 1.5%

MAIN stock opened at $62.98 on Monday. The firm has a market cap of $5.63 billion, a P/E 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 moving average is $65.14 and its 200-day moving average is $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 (NYSE:MAIN) last released its quarterly 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 business had revenue of $143.97 million for the quarter, compared to analyst estimates of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. Equities analysts anticipate that Main Street Capital will post 4.11 earnings per share for the current fiscal year.

Insider Activity at Main Street Capital

In related news, Director Nicholas Meserve sold 14,000 shares of the company’s stock in a transaction 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 owned 82,383 shares in the company, valued at $5,532,018.45. This represents a 14.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Main Street Capital

Large investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in 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 worth $28,000 after purchasing an additional 250 shares in the last quarter. Financial Network Wealth Advisors LLC bought a new position in Main Street Capital during the 1st quarter worth about $39,000. Spire Wealth Management bought a new position in Main Street Capital during the 1st quarter worth about $40,000. Wellington Shields & Co. LLC bought a new position in shares of Main Street Capital in the 1st quarter valued at about $41,000. Finally, Quarry LP bought a new position in shares of Main Street Capital in the 1st quarter valued at about $48,000. 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.