Main Street Capital Corporation (NYSE:MAIN) Stock to Pay Monthly Dividend of $0.27

Main Street Capital Corporation (NYSE:MAIN) declared a monthly dividend on Tuesday, November 3rd. Shareholders of record on Friday, February 5th will be given a dividend of $0.27 per share by the financial services provider on Friday, February 12th. This represents a $3.24 annualized dividend and a yield of 5.7%. The ex-dividend date is Friday, February 5th.

Main Street Capital has increased its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Main Street Capital has a payout ratio of 83.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Main Street Capital to earn $3.81 per share next year, which means the company should continue to be able to cover its $3.18 annual dividend with an expected future payout ratio of 83.5%.

Main Street Capital Stock Up 0.2%

Shares of NYSE:MAIN traded up $0.09 during trading hours on Tuesday, reaching $56.39. The stock had a trading volume of 590,232 shares, compared to its average volume of 641,325. Main Street Capital has a 1 year low of $48.95 and a 1 year high of $65.23. The firm’s 50 day moving average is $55.67 and its 200-day moving average is $55.54. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of 11.37 and a beta of 0.73.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The business had revenue of $327.56 million for the quarter, compared to analyst estimates of $144.59 million. Main Street Capital had a net margin of 78.49% and a return on equity of 11.80%. Research analysts predict that Main Street Capital will post 3.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Main Street Capital

In related news, CAO Ryan Mchugh bought 2,550 shares of the stock in a transaction dated Thursday, August 13th. The stock was acquired at an average price of $59.05 per share, for a total transaction of $150,577.50. Following the acquisition, the chief accounting officer owned 22,647 shares in the company, valued at approximately $1,337,305.35. This represents a 12.69% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.83% of the company’s stock.

Institutional Investors Weigh In On Main Street Capital

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc purchased a new stake in Main Street Capital in the second quarter valued at $43,323,000. BlackRock Inc. purchased a new position in shares of Main Street Capital during the second quarter worth about $20,940,000. Bank of America Corp DE purchased a new position in shares of Main Street Capital during the second quarter worth about $6,094,000. Beacon Pointe Advisors LLC purchased a new position in shares of Main Street Capital during the second quarter worth about $5,665,000. Finally, Fund Advisors of America Inc FL acquired a new stake in shares of Main Street Capital during the second quarter worth about $2,996,000. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Main Street Capital Company Profile

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately held businesses. The company primarily invests in lower middle-market companies and also makes private loan investments in larger middle-market businesses.

Its investment activities include first-lien, second-lien and subordinated debt, as well as equity investments and other securities. Main Street seeks to provide flexible, long-term capital to support acquisitions, recapitalizations, growth initiatives and other corporate financing needs.