Main Street Capital Corporation Plans Quarterly Dividend of $0.30 (NYSE:MAIN)

Main Street Capital Corporation (NYSE:MAIN) announced a quarterly dividend on Monday, August 4th, investing.com reports. Investors 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 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 fall. 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 Trading Down 1.5%

Main Street Capital stock opened at $62.98 on Monday. 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 1 year low of $47.00 and a 1 year high of $67.77. The firm’s 50 day moving average price is $65.14 and its two-hundred day moving average price is $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 released its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, hitting the consensus estimate of $0.99. The business had revenue of $143.97 million during the quarter, compared to analyst estimates of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. On average, research analysts predict that Main Street Capital will post 4.11 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Main Street Capital

Several institutional investors and hedge funds have recently modified their holdings of MAIN. Brighton Jones LLC acquired a new position in Main Street Capital during the fourth quarter worth $304,000. GAMMA Investing LLC boosted its stake in shares of Main Street Capital by 5,557.9% during the 1st quarter. GAMMA Investing LLC now owns 1,075 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 1,056 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of Main Street Capital during the 1st quarter worth about $54,000. Merit Financial Group LLC acquired a new position in shares of Main Street Capital during the 1st quarter valued at about $212,000. Finally, Park Avenue Securities LLC raised its stake in shares of Main Street Capital by 89.6% in the 1st quarter. Park Avenue Securities LLC now owns 7,186 shares of the financial services provider’s stock valued at $406,000 after acquiring an additional 3,396 shares in the last quarter. Institutional investors and hedge funds 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.