Sumitomo Mitsui Trust Group Inc. grew its holdings in Main Street Capital Corporation (NYSE:MAIN – Free Report) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 370,509 shares of the financial services provider’s stock after buying an additional 14,962 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.41% of Main Street Capital worth $19,622,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MAIN. Childress Capital Advisors LLC lifted its stake in Main Street Capital by 165.2% during the fourth quarter. Childress Capital Advisors LLC now owns 293,733 shares of the financial services provider’s stock worth $17,739,000 after purchasing an additional 182,973 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Main Street Capital by 90.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 382,450 shares of the financial services provider’s stock valued at $24,320,000 after purchasing an additional 181,733 shares during the period. Brighton Jones LLC bought a new stake in shares of Main Street Capital in the 4th quarter valued at approximately $304,000. Adell Harriman & Carpenter Inc. raised its holdings in shares of Main Street Capital by 5.3% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 478,435 shares of the financial services provider’s stock worth $28,893,000 after buying an additional 23,942 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Main Street Capital by 15.2% in the 4th quarter. Legal & General Group Plc now owns 719,967 shares of the financial services provider’s stock worth $43,479,000 after buying an additional 95,177 shares in the last quarter. 20.31% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Main Street Capital news, EVP Jason B. Beauvais sold 6,830 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $51.73, for a total transaction of $353,315.90. Following the sale, the executive vice president owned 196,185 shares of the company’s stock, valued at $10,148,650.05. This represents a 3.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.83% of the stock is currently owned by corporate insiders.
Main Street Capital Stock Down 0.5%
Main Street Capital (NYSE:MAIN – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.11). The business had revenue of $73.44 million during the quarter, compared to the consensus estimate of $145.23 million. Main Street Capital had a net margin of 74.86% and a return on equity of 12.01%. As a group, sell-side analysts forecast that Main Street Capital Corporation will post 3.78 earnings per share for the current fiscal year.
Main Street Capital Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 8th will be given a dividend of $0.265 per share. The ex-dividend date is Tuesday, September 8th. This represents a c) annualized dividend and a yield of 6.0%. Main Street Capital’s dividend payout ratio is 66.95%.
Wall Street Analyst Weigh In
Several brokerages recently commented on MAIN. Wells Fargo & Company assumed coverage on Main Street Capital in a research note on Friday, May 22nd. They issued an “equal weight” rating and a $50.00 price target on the stock. Citizens Jmp dropped their price objective on Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Wall Street Zen cut Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Zacks Research downgraded shares of Main Street Capital from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 28th. Finally, Weiss Ratings lowered shares of Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 22nd. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Main Street Capital currently has a consensus rating of “Hold” and a consensus target price of $59.14.
View Our Latest Analysis on Main Street Capital
About Main Street Capital
Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.
Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.
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