Main Street Capital Corporation (NYSE:MAIN) to Issue Quarterly Dividend of $0.30

Main Street Capital Corporation (NYSE:MAIN) announced a quarterly dividend on Monday, August 4th. 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 is Wednesday, October 8th.

Main Street Capital has a dividend 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 firm has a market capitalization of $5.63 billion, a P/E ratio of 10.38 and a beta of 0.87. Main Street Capital has a 52 week low of $47.00 and a 52 week high of $67.77. The firm’s 50 day moving average is $65.14 and its two-hundred day moving average is $59.81. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, hitting analysts’ consensus estimates of $0.99. The firm had revenue of $143.97 million during the quarter, compared to analysts’ expectations of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. Research analysts forecast that Main Street Capital will post 4.11 EPS for the current fiscal year.

Insider Transactions at Main Street Capital

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $67.15, for a total transaction of $940,100.00. Following the completion of the transaction, the director owned 82,383 shares in the company, valued at approximately $5,532,018.45. The trade was a 14.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Main Street Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its position in shares of Main Street Capital by 109.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 250 shares in the last quarter. Financial Network Wealth Advisors LLC purchased a new position in Main Street Capital in the first quarter worth $39,000. Spire Wealth Management purchased a new position in Main Street Capital in the first quarter worth $40,000. Wellington Shields & Co. LLC purchased a new position in Main Street Capital in the first quarter worth $41,000. Finally, Quarry LP purchased a new position in Main Street Capital in the first quarter worth $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.