Main Street Capital (NYSE:MAIN) Shares Up 0.6%

Main Street Capital Co. (NYSE:MAIN)’s share price shot up 0.6% during mid-day trading on Monday . The company traded as high as $50.75 and last traded at $50.68. 162,413 shares were traded during mid-day trading, a decline of 53% from the average session volume of 347,263 shares. The stock had previously closed at $50.37.

Wall Street Analyst Weigh In

Several research analysts have commented on MAIN shares. Oppenheimer lifted their price target on shares of Main Street Capital from $41.00 to $43.00 and gave the stock a “market perform” rating in a research note on Monday, February 26th. Royal Bank of Canada upped their price target on shares of Main Street Capital from $48.00 to $52.00 and gave the company an “outperform” rating in a research report on Tuesday, April 30th. UBS Group upped their price target on shares of Main Street Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Finally, Truist Financial upped their price target on shares of Main Street Capital from $43.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, February 26th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.17.

Main Street Capital Trading Down 0.1 %

The stock has a market capitalization of $4.30 billion, a P/E ratio of 9.70 and a beta of 1.25. The firm’s 50 day moving average price is $47.37 and its 200 day moving average price is $44.40. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.09 and a quick ratio of 0.09.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. The company had revenue of $129.31 million during the quarter, compared to the consensus estimate of $125.52 million. As a group, equities research analysts expect that Main Street Capital Co. will post 4.07 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 8th will be paid a $0.245 dividend. This is an increase from Main Street Capital’s previous monthly dividend of $0.24. This represents a $2.94 dividend on an annualized basis and a yield of 5.81%. The ex-dividend date is Monday, July 8th. Main Street Capital’s dividend payout ratio is presently 55.17%.

Hedge Funds Weigh In On Main Street Capital

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its stake in shares of Main Street Capital by 2.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,435,508 shares of the financial services provider’s stock valued at $148,518,000 after purchasing an additional 71,698 shares in the last quarter. Burgundy Asset Management Ltd. grew its holdings in shares of Main Street Capital by 5.2% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,073,767 shares of the financial services provider’s stock valued at $46,419,000 after buying an additional 53,232 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Main Street Capital by 13.9% during the first quarter. Van ECK Associates Corp now owns 1,008,783 shares of the financial services provider’s stock valued at $47,726,000 after buying an additional 122,757 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Main Street Capital by 1.4% during the third quarter. Legal & General Group Plc now owns 588,490 shares of the financial services provider’s stock valued at $23,902,000 after buying an additional 8,091 shares during the last quarter. Finally, Sound Income Strategies LLC grew its holdings in shares of Main Street Capital by 2.2% during the first quarter. Sound Income Strategies LLC now owns 359,773 shares of the financial services provider’s stock valued at $17,021,000 after buying an additional 7,790 shares during the last quarter. 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.