Main Street Capital Corporation (MAIN) to Issue Quarterly Dividend of $0.30 on October 15th

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) annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, October 8th.

Main Street Capital has a payout ratio of 78.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 Stock Performance

Shares of Main Street Capital stock opened at $62.98 on Monday. The company has a market capitalization of $5.63 billion, a PE ratio of 10.38 and a beta of 0.87. Main Street Capital has a 12 month low of $47.00 and a 12 month high of $67.77. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The stock’s fifty day simple moving average is $65.14 and its 200 day simple moving average is $59.81.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, hitting the consensus estimate of $0.99. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%.The business had revenue of $143.97 million for the quarter, compared to the consensus estimate of $137.23 million. On average, research analysts predict that Main Street Capital will post 4.11 EPS for the current 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 on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total transaction of $940,100.00. Following the sale, the director owned 82,383 shares of the company’s stock, valued at approximately $5,532,018.45. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.00% of the company’s stock.

Institutional Trading of Main Street Capital

Institutional investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its position in Main Street Capital by 109.6% during the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 250 shares during the last quarter. Financial Network Wealth Advisors LLC bought a new stake in Main Street Capital during the first quarter valued at $39,000. Spire Wealth Management bought a new stake in Main Street Capital during the first quarter valued at $40,000. Wellington Shields & Co. LLC bought a new stake in Main Street Capital during the first quarter valued at $41,000. Finally, Quarry LP bought a new position in shares of Main Street Capital during the 1st quarter worth about $48,000. Institutional investors 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.