Midwest Professional Planners LTD. Increases Holdings in Main Street Capital Corporation (NYSE:MAIN)

Midwest Professional Planners LTD. grew its holdings in Main Street Capital Corporation (NYSE:MAIN) by 2.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 26,096 shares of the financial services provider’s stock after acquiring an additional 614 shares during the period. Midwest Professional Planners LTD.’s holdings in Main Street Capital were worth $1,476,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Main Street Capital by 50.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,261 shares of the financial services provider’s stock valued at $468,000 after buying an additional 2,756 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Main Street Capital by 10.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 242,857 shares of the financial services provider’s stock worth $13,736,000 after buying an additional 22,340 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Main Street Capital by 270.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 9,301 shares of the financial services provider’s stock worth $545,000 after buying an additional 6,793 shares during the last quarter. AssuredPartners Investment Advisors LLC bought a new stake in shares of Main Street Capital in the 4th quarter worth about $385,000. Finally, Segment Wealth Management LLC increased its holdings in shares of Main Street Capital by 134.3% in the 1st quarter. Segment Wealth Management LLC now owns 117,994 shares of the financial services provider’s stock worth $6,674,000 after buying an additional 67,626 shares during the last quarter. Institutional investors own 20.31% of the company’s stock.

Main Street Capital Stock Up 0.9%

Shares of MAIN opened at $63.56 on Tuesday. The firm has a fifty day moving average price of $57.27 and a 200-day moving average price of $57.52. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.12. Main Street Capital Corporation has a 12-month low of $45.00 and a 12-month high of $63.68. The firm has a market capitalization of $5.66 billion, a P/E ratio of 10.79 and a beta of 0.82.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.01. Main Street Capital had a net margin of 94.61% and a return on equity of 13.02%. The firm had revenue of $137.05 million during the quarter, compared to the consensus estimate of $137.50 million. Equities research analysts expect that Main Street Capital Corporation will post 4.11 earnings per share for the current year.

Main Street Capital Cuts Dividend

The business also recently announced a dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 9th will be given a dividend of $0.255 per share. The ex-dividend date is Tuesday, July 8th. This represents a yield of 5.18%. Main Street Capital’s dividend payout ratio (DPR) is presently 51.95%.

Insider Transactions at Main Street Capital

In other Main Street Capital news, EVP Jason B. Beauvais sold 13,664 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $59.37, for a total transaction of $811,231.68. Following the sale, the executive vice president owned 181,526 shares of the company’s stock, valued at approximately $10,777,198.62. This trade represents a 7.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MAIN. B. Riley upgraded shares of Main Street Capital to a “hold” rating in a report on Monday, June 16th. Oppenheimer restated a “market perform” rating on shares of Main Street Capital in a report on Tuesday, May 13th. UBS Group decreased their price target on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Wall Street Zen raised shares of Main Street Capital from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Finally, Truist Financial decreased their price objective on shares of Main Street Capital from $62.00 to $54.00 and set a “hold” rating for the company in a research note on Monday, May 12th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $52.80.

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.