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

Main Street Capital Corporation (NYSE:MAIN) declared a quarterly dividend on Monday, August 4th, investing.com reports. Stockholders of record on Wednesday, October 8th will be paid 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 dividend 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 fall. 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%

Shares of MAIN stock opened at $62.98 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. Main Street Capital has a fifty-two week low of $47.00 and a fifty-two week high of $67.77. The company has a market cap of $5.63 billion, a PE ratio of 10.38 and a beta of 0.87. The stock’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 announced its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.99. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%.The company had revenue of $143.97 million for the quarter, compared to the consensus estimate of $137.23 million. Equities analysts predict that Main Street Capital will post 4.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total transaction 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Main Street Capital

Hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its stake in shares of Main Street Capital by 109.6% in 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 purchased a new stake in shares of Main Street Capital in the 1st quarter worth $39,000. Spire Wealth Management purchased a new stake in shares of Main Street Capital in the 1st quarter worth $40,000. Wellington Shields & Co. LLC purchased a new stake in shares of Main Street Capital in the 1st quarter worth $41,000. Finally, Quarry LP purchased a new stake in shares of Main Street Capital in the 1st quarter worth $48,000. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

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.