Main Street Capital Co. (NYSE:MAIN) Declares Monthly Dividend of $0.30

Main Street Capital Co. (NYSE:MAINGet Free Report) announced a monthly dividend on Tuesday, February 20th, investing.com reports. Investors of record on Monday, April 8th will be paid a dividend of 0.30 per share by the financial services provider on Monday, April 15th. This represents a $3.60 dividend on an annualized basis and a yield of 7.66%. The ex-dividend date is Friday, April 5th. This is a positive change from Main Street Capital’s previous monthly dividend of $0.24.

Main Street Capital has increased its dividend payment by an average of 6.8% annually over the last three years. Main Street Capital has a payout ratio of 74.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Main Street Capital to earn $3.90 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 73.8%.

Main Street Capital Stock Up 0.2 %

MAIN opened at $47.01 on Wednesday. The business’s fifty day simple moving average is $45.66 and its 200 day simple moving average is $42.90. Main Street Capital has a 52 week low of $37.70 and a 52 week high of $47.63. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $3.99 billion, a PE ratio of 9.01 and a beta of 1.29.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Truist Financial upped their price objective on shares of Main Street Capital from $43.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, February 26th. Royal Bank of Canada lifted their price target on Main Street Capital from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. B. Riley cut shares of Main Street Capital from a “buy” rating to a “neutral” rating and set a $47.00 target price on the stock. in a report on Monday, January 8th. Oppenheimer lifted their target price 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. Finally, UBS Group increased 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. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $45.50.

Get Our Latest Stock Report on Main Street Capital

Hedge Funds Weigh In On Main Street Capital

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Main Street Capital by 250.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,501,374 shares of the financial services provider’s stock valued at $96,378,000 after purchasing an additional 1,788,197 shares during the period. Millennium Management LLC bought a new stake in shares of Main Street Capital during the 4th quarter valued at $6,674,000. Two Sigma Investments LP purchased a new stake in shares of Main Street Capital in the 3rd quarter worth about $5,518,000. Imprint Wealth LLC bought a new position in shares of Main Street Capital in the 2nd quarter worth about $12,549,000. Finally, Atria Wealth Solutions Inc. purchased a new position in Main Street Capital during the 1st quarter valued at about $3,102,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

About Main Street Capital

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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.

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Dividend History for Main Street Capital (NYSE:MAIN)

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