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

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 given 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 dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 8th.

Main Street Capital has a dividend 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 tumble. Equities 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 opened at $62.98 on Monday. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 10.38 and a beta of 0.87. The firm has a 50 day simple moving average of $65.14 and a 200 day simple moving average of $59.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. Main Street Capital has a fifty-two week low of $47.00 and a fifty-two week high of $67.77.

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. The business had revenue of $143.97 million for the quarter, compared to the consensus estimate of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. On average, sell-side analysts anticipate that Main Street Capital will post 4.11 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total value of $940,100.00. Following the completion of the sale, the director directly owned 82,383 shares in the company, valued at $5,532,018.45. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Main Street Capital

Hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Main Street Capital by 50.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,261 shares of the financial services provider’s stock worth $468,000 after purchasing an additional 2,756 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in 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 valued at $13,736,000 after acquiring an additional 22,340 shares during the period. Mackenzie Financial Corp purchased a new position in Main Street Capital in the 1st quarter valued at $578,000. Segment Wealth Management LLC raised its holdings in shares of Main Street Capital by 134.3% during the 1st quarter. Segment Wealth Management LLC now owns 117,994 shares of the financial services provider’s stock worth $6,674,000 after acquiring an additional 67,626 shares during the period. Finally, Victory Capital Management Inc. acquired a new stake in shares of Main Street Capital during the 1st quarter worth about $6,205,000. Hedge funds and other 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.