Main Street Capital Co. Declares Monthly Dividend of $0.22 (NYSE:MAIN)

Posted by Rob Hiaasen on Aug 6th, 2022

Main Street Capital Co. (NYSE:MAIN – Get Rating) declared a monthly dividend on Thursday, August 4th, Wall Street Journal reports. Stockholders of record on Tuesday, November 8th will be paid a dividend of 0.22 per share by the financial services provider on Tuesday, November 15th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 5.83%. The ex-dividend date is Monday, November 7th.

Main Street Capital has a dividend payout ratio of 81.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Main Street Capital to earn $3.09 per share next year, which means the company should continue to be able to cover its $2.58 annual dividend with an expected future payout ratio of 83.5%.

Main Street Capital Trading Up 2.0 %

Shares of NYSE:MAIN opened at $45.28 on Friday. Main Street Capital has a 1 year low of $34.35 and a 1 year high of $47.13. The stock’s fifty day moving average price is $39.84 and its 200-day moving average price is $40.87. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.06 and a quick ratio of 0.06. The company has a market cap of $3.30 billion, a P/E ratio of 12.34 and a beta of 1.28.

Main Street Capital (NYSE:MAIN – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The business had revenue of $79.40 million during the quarter, compared to analysts’ expectations of $82.59 million. Main Street Capital had a return on equity of 11.80% and a net margin of 79.82%. During the same quarter in the prior year, the business posted $0.58 earnings per share. Sell-side analysts expect that Main Street Capital will post 2.89 earnings per share for the current year.

Institutional Trading of Main Street Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. acquired a new position in shares of Main Street Capital in the 1st quarter valued at about $201,000. Merit Financial Group LLC acquired a new position in shares of Main Street Capital in the 1st quarter valued at about $274,000. Guggenheim Capital LLC lifted its holdings in shares of Main Street Capital by 6.4% in the 1st quarter. Guggenheim Capital LLC now owns 7,550 shares of the financial services provider’s stock valued at $322,000 after buying an additional 457 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Main Street Capital by 11.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,504 shares of the financial services provider’s stock valued at $363,000 after buying an additional 904 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Main Street Capital by 4,957.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,305 shares of the financial services provider’s stock valued at $397,000 after buying an additional 9,121 shares during the period. Institutional investors and hedge funds own 17.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MAIN shares. TheStreet upgraded Main Street Capital from a “c+” rating to a “b-” rating in a research report on Tuesday, July 19th. Hovde Group lowered their price objective on Main Street Capital to $37.00 in a research note on Friday, May 20th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Main Street Capital has an average rating of “Hold” and an average price target of $42.80.

Main Street Capital Company Profile

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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.