Main Street Capital Co. (NYSE: MAIN – Get a rating) announced a dividend on Monday, August 1 NASDAQ reports. Shareholders of record on Tuesday September 20 will receive a dividend of 0.10 per share from the financial services provider on Tuesday September 27. The ex-date of this dividend is Monday, September 19. This is a positive change from Main Street Capital’s previous dividend of $0.08.
Main Street Capital has decreased its dividend payout by an average of 3.1% per year over the past three years and has increased its dividend every year for the past 12 years. Main Street Capital has a payout ratio of 82.2%, 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 $3.17 per share next year, meaning the company should continue to be able to cover its $2.64 annual dividend with a ratio expected future payout of 83.3%.
Main Street Capital Price Performance
NYSE MAIN shares opened at $39.72 on Friday. The company has a market capitalization of $2.90 billion, a P/E ratio of 10.82 and a beta of 1.28. Main Street Capital has a one-year low of $34.35 and a one-year high of $47.13. The company’s fifty-day moving average is $42.29 and its two-hundred-day moving average is $40.64. The company has a debt ratio of 0.18, a quick ratio of 0.06 and a current ratio of 0.06.
Analysts set new price targets
Several brokerages have commented on MAIN. Raymond James downgraded shares of Main Street Capital from an “outperform” rating to a “market performer” rating in a research report Monday, Aug. 8. TheStreet upgraded shares of Main Street Capital from a “c+” rating to a “b-” rating in a Tuesday, July 19 research report. Finally, Hovde Group lowered its price target on Main Street Capital shares to $37.00 in a Friday, May 20 research report. Five equity research analysts rated the stock with a hold rating and one gave the company a buy rating. Based on data from MarketBeat, Main Street Capital has a consensus rating of “Hold” and an average price target of $42.80.
Institutional entries and exits
A number of institutional investors and hedge funds have recently increased or reduced their stake in MAIN. Goldman Sachs Group Inc. bought a new position in Main Street Capital in Q1 worth approximately $201,000. Mutual Advisors LLC increased its stake in shares of Main Street Capital by 4.9% during the 2nd quarter. Mutual Advisors LLC now owns 5,900 shares of the financial services provider valued at $227,000 after acquiring 273 additional shares in the last quarter. Merit Financial Group LLC acquired a new stock position in Main Street Capital during Q1 worth approximately $274,000. Guggenheim Capital LLC increased its equity stake in Main Street Capital by 6.4% during the first quarter. Guggenheim Capital LLC now owns 7,550 shares of the financial services provider valued at $322,000 after acquiring 457 additional shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Main Street Capital by 11.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,504 shares of the financial services provider valued at $363,000 after acquiring 904 additional shares in the last quarter. 19.11% of the shares are currently held by hedge funds and other institutional investors.
About Main Street Capital
Main Street Capital Corporation is a business development firm specializing in equity capital for lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature and subsequent emerging growth.
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