Main Street Capital Corporation (NYSE:MAIN) Announces 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. Equities 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 Price Performance

MAIN stock opened at $62.98 on Monday. The company has a market capitalization of $5.63 billion, a P/E ratio of 10.38 and a beta of 0.87. Main Street Capital has a 52-week low of $47.00 and a 52-week high of $67.77. The business has a 50-day simple moving average of $65.14 and a two-hundred day simple moving average of $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.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, meeting the consensus estimate of $0.99. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%.The business had revenue of $143.97 million for the quarter, compared to analysts’ expectations of $137.23 million. Research analysts expect that Main Street Capital will post 4.11 EPS for the current fiscal year.

Insider Transactions at Main Street Capital

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of the stock in a transaction on 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 $5,532,018.45. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.00% of the stock is owned by insiders.

Institutional Trading of Main Street Capital

A number of institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its position in shares of Main Street Capital by 109.6% during the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after buying an additional 250 shares during the period. Financial Network Wealth Advisors LLC bought a new position in Main Street Capital in the 1st quarter worth about $39,000. Spire Wealth Management bought a new stake in shares of Main Street Capital during the 1st quarter valued at about $40,000. Wellington Shields & Co. LLC purchased a new position in shares of Main Street Capital during the first quarter worth about $41,000. Finally, Quarry LP bought a new position in shares of Main Street Capital in the first quarter worth approximately $48,000. Hedge funds and other 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.