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 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. 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 Street Capital stock opened at $62.98 on Monday. Main Street Capital has a 1 year low of $47.00 and a 1 year high of $67.77. The firm’s 50-day moving average is $65.14 and its 200-day moving average is $59.81. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. The company has a market cap of $5.63 billion, a P/E ratio of 10.38 and a beta of 0.87.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, meeting analysts’ consensus estimates of $0.99. The company 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 analysts expect that Main Street Capital will post 4.11 earnings per share for the current 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 dated Thursday, August 14th. The stock was sold at an average price of $67.15, for a total transaction of $940,100.00. Following the sale, the director 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 transaction 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

A number of large investors have recently made changes to their positions in MAIN. Smartleaf Asset Management LLC boosted its stake in 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 during the period. Financial Network Wealth Advisors LLC purchased a new stake in Main Street Capital in the 1st quarter worth about $39,000. Spire Wealth Management acquired a new stake in Main Street Capital during the 1st quarter worth about $40,000. Wellington Shields & Co. LLC purchased a new position in Main Street Capital during the 1st quarter valued at about $41,000. Finally, Quarry LP acquired a new position in shares of Main Street Capital in the 1st quarter valued at about $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.