Main Street Capital Corporation (MAIN) To Go Ex-Dividend on October 8th

Main Street Capital Corporation (NYSE:MAIN) declared a quarterly dividend on Monday, August 4th, investing.com reports. Shareholders 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) annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 8th.

Main Street Capital has a payout ratio of 78.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Stock Down 1.5%

Shares of NYSE:MAIN opened at $62.98 on Monday. The firm has a fifty day moving average price of $65.14 and a two-hundred day moving average price of $59.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. Main Street Capital has a one year low of $47.00 and a one year high of $67.77. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 10.38 and a beta of 0.87.

Main Street Capital (NYSE:MAIN) last released 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 business had revenue of $143.97 million for the quarter, compared to analysts’ expectations of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. Analysts anticipate that Main Street Capital will post 4.11 EPS for the current fiscal year.

Insider Activity

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 shares were sold at an average price of $67.15, for a total value of $940,100.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Main Street Capital

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp increased its position in shares of Main Street Capital by 45,123.0% during the first quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider’s stock valued at $33,405,000 after buying an additional 589,307 shares during the period. Invesco Ltd. increased its position in shares of Main Street Capital by 282.5% during the first quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider’s stock valued at $30,105,000 after buying an additional 393,101 shares during the period. HRT Financial LP increased its position in shares of Main Street Capital by 147.7% during the second quarter. HRT Financial LP now owns 213,431 shares of the financial services provider’s stock valued at $12,613,000 after buying an additional 127,270 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Main Street Capital during the first quarter valued at about $6,205,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Main Street Capital in the first quarter worth about $4,840,000. Hedge funds and other 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.