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

Main Street Capital Corporation (NYSE:MAIN) declared a quarterly dividend on Monday, November 3rd. Shareholders of record on Thursday, January 8th will be given a dividend of 0.30 per share by the financial services provider on Thursday, January 15th. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Thursday, January 8th.

Main Street Capital has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Main Street Capital has a dividend payout ratio of 80.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research 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 $3.06 annual dividend with an expected future payout ratio of 75.4%.

Main Street Capital Stock Down 1.2%

Shares of MAIN stock traded down $0.67 during trading hours on Wednesday, hitting $56.51. 229,873 shares of the company were exchanged, compared to its average volume of 560,419. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. Main Street Capital has a one year low of $47.00 and a one year high of $67.77. The business’s 50-day simple moving average is $62.00 and its two-hundred day simple moving average is $60.41. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 9.31 and a beta of 0.84.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results 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 net margin of 96.16% and a return on equity of 12.70%. The business had revenue of $143.97 million for the quarter, compared to analysts’ expectations of $137.23 million. Sell-side analysts predict that Main Street Capital will post 4.11 EPS for the current fiscal year.

Insider Activity at Main Street Capital

In other news, Director Nicholas Meserve sold 14,000 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $67.15, for a total value of $940,100.00. Following the transaction, the director directly owned 82,383 shares of the company’s stock, valued at $5,532,018.45. The trade was a 14.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.09% of the stock is owned by insiders.

Institutional Trading of Main Street Capital

Institutional investors and hedge funds have recently made changes to their positions in the business. Brighton Jones LLC bought a new stake in shares of Main Street Capital in the 4th quarter valued at $304,000. Bank of New York Mellon Corp increased its holdings in Main Street Capital by 30.3% during the 1st quarter. Bank of New York Mellon Corp now owns 38,202 shares of the financial services provider’s stock worth $2,161,000 after purchasing an additional 8,886 shares in the last quarter. Sharpepoint LLC increased its holdings in Main Street Capital by 12.9% during the 1st quarter. Sharpepoint LLC now owns 26,233 shares of the financial services provider’s stock worth $1,422,000 after purchasing an additional 3,004 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Main Street Capital by 14.0% in the 1st quarter. Allworth Financial LP now owns 10,054 shares of the financial services provider’s stock valued at $549,000 after acquiring an additional 1,238 shares in the last quarter. Finally, Round Rock Advisors LLC bought a new position in shares of Main Street Capital in the 1st quarter valued at about $211,000. 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.