Main Street Capital Corporation (MAIN) to Issue Quarterly Dividend of $0.30 on October 15th

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 decline. Equities 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%

NYSE:MAIN opened at $62.98 on Monday. 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 firm 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 has a 52 week low of $47.00 and a 52 week high of $67.77. The firm has a 50-day moving average price of $65.14 and a two-hundred day moving average price of $59.81.

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

Insider Buying and Selling

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total value of $940,100.00. Following the completion of the transaction, the director directly owned 82,383 shares of the company’s stock, valued at $5,532,018.45. This trade represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.00% of the stock is currently owned by insiders.

Institutional Trading of Main Street Capital

Institutional investors and hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its position in shares of Main Street Capital by 109.6% during the 2nd 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 in the last quarter. Financial Network Wealth Advisors LLC purchased a new stake in shares of Main Street Capital during the 1st quarter valued at $39,000. Spire Wealth Management purchased a new stake in shares of Main Street Capital during the 1st quarter valued at $40,000. Wellington Shields & Co. LLC purchased a new stake in shares of Main Street Capital during the 1st quarter valued at $41,000. Finally, Quarry LP purchased a new stake in shares of Main Street Capital during the 1st quarter valued at $48,000. 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.