Main Street Capital (NYSE:MAIN) Sets New 1-Year High – Time to Buy?

Main Street Capital Co. (NYSE:MAIN)’s share price hit a new 52-week high on Thursday . The company traded as high as $60.20 and last traded at $60.05, with a volume of 265369 shares trading hands. The stock had previously closed at $59.24.

Wall Street Analyst Weigh In

Separately, B. Riley lifted their target price on shares of Main Street Capital from $49.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.80.

Main Street Capital Trading Down 0.7 %

The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 10.88 and a beta of 1.28. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average is $56.03 and its 200-day moving average is $52.35.

Main Street Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 7th will be paid a dividend of $0.30 per share. This represents a $3.60 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date of this dividend is Friday, February 7th. Main Street Capital’s dividend payout ratio (DPR) is 54.35%.

Hedge Funds Weigh In On Main Street Capital

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Secure Asset Management LLC acquired a new position in Main Street Capital in the fourth quarter valued at $264,000. Wesbanco Bank Inc. acquired a new stake in shares of Main Street Capital in the 4th quarter valued at about $220,000. Janney Montgomery Scott LLC grew its stake in Main Street Capital by 2.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 20,670 shares of the financial services provider’s stock worth $1,211,000 after buying an additional 494 shares during the last quarter. Paradiem LLC increased its position in Main Street Capital by 0.3% during the fourth quarter. Paradiem LLC now owns 280,593 shares of the financial services provider’s stock worth $16,437,000 after buying an additional 732 shares during the period. Finally, Monterey Private Wealth Inc. purchased a new stake in Main Street Capital in the fourth quarter valued at approximately $220,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

About Main Street Capital

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.