Sumitomo Mitsui Trust Group Inc. Grows Stock Holdings in Main Street Capital Corporation $MAIN

Sumitomo Mitsui Trust Group Inc. increased its stake in Main Street Capital Corporation (NYSE:MAIN) by 16.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 334,542 shares of the financial services provider’s stock after buying an additional 47,290 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Main Street Capital were worth $21,274,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quest 10 Wealth Builders Inc. bought a new stake in Main Street Capital in the third quarter worth $25,000. City Holding Co. bought a new position in shares of Main Street Capital during the third quarter valued at $26,000. Smartleaf Asset Management LLC increased its holdings in shares of 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 in the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Main Street Capital in the 3rd quarter worth about $38,000. Finally, First Horizon Advisors Inc. bought a new position in Main Street Capital in the 2nd quarter worth about $50,000. Institutional investors own 20.31% of the company’s stock.

Main Street Capital Trading Down 0.2%

NYSE:MAIN opened at $64.06 on Friday. The company has a market cap of $5.74 billion, a PE ratio of 10.62 and a beta of 0.80. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.12. The company has a 50 day simple moving average of $59.93 and a two-hundred day simple moving average of $61.82. Main Street Capital Corporation has a 12 month low of $47.00 and a 12 month high of $67.77.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.09). Main Street Capital had a return on equity of 12.39% and a net margin of 95.59%.The firm had revenue of $151.23 million during the quarter, compared to analysts’ expectations of $140.53 million. Research analysts forecast that Main Street Capital Corporation will post 4.11 earnings per share for the current year.

Main Street Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, March 6th will be paid a dividend of $0.26 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Friday, March 6th. Main Street Capital’s payout ratio is currently 51.74%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MAIN shares. Weiss Ratings restated a “buy (b+)” rating on shares of Main Street Capital in a research note on Monday, December 22nd. Royal Bank Of Canada cut their price target on shares of Main Street Capital from $67.00 to $66.00 and set an “outperform” rating on the stock in a report on Tuesday, December 9th. Loop Capital upgraded shares of Main Street Capital to a “neutral” rating and set a $65.00 price objective for the company in a report on Thursday. Wall Street Zen upgraded Main Street Capital from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, Noble Financial reissued a “neutral” rating on shares of Main Street Capital in a report on Thursday. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $62.75.

Main Street Capital Profile

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.