Main Street Capital Co. (NYSE:MAIN) Plans Dividend Increase – $0.30 Per Share

Main Street Capital Co. (NYSE:MAINGet Free Report) announced a monthly dividend on Tuesday, February 20th, investing.com reports. Investors of record on Monday, April 8th will be given a dividend of 0.30 per share by the financial services provider on Monday, April 15th. This represents a $3.60 dividend on an annualized basis and a yield of 7.66%. The ex-dividend date of this dividend is Friday, April 5th. This is a positive change from Main Street Capital’s previous monthly dividend of $0.24.

Main Street Capital has raised its dividend payment by an average of 6.8% annually over the last three years. Main Street Capital has a payout ratio of 74.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Main Street Capital to earn $3.90 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 73.8%.

Main Street Capital Price Performance

Shares of NYSE:MAIN opened at $47.01 on Wednesday. The firm’s 50 day moving average price is $45.66 and its 200-day moving average price is $42.90. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $3.99 billion, a PE ratio of 9.01 and a beta of 1.29. Main Street Capital has a twelve month low of $37.70 and a twelve month high of $47.63.

Main Street Capital (NYSE:MAINGet Free Report) last released its earnings results on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.06. The firm had revenue of $129.31 million during the quarter, compared to analysts’ expectations of $125.52 million. Main Street Capital had a return on equity of 14.99% and a net margin of 85.62%. Equities research analysts expect that Main Street Capital will post 4.07 EPS for the current year.

Institutional Investors Weigh In On Main Street Capital

A number of hedge funds have recently modified their holdings of the company. Citigroup Inc. lifted its position in Main Street Capital by 945.9% in the third quarter. Citigroup Inc. now owns 638 shares of the financial services provider’s stock valued at $26,000 after buying an additional 577 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of Main Street Capital in the fourth quarter worth $55,000. Harbour Investments Inc. raised its position in Main Street Capital by 15.6% in the 4th quarter. Harbour Investments Inc. now owns 2,636 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 356 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Main Street Capital by 3,563.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,334 shares of the financial services provider’s stock worth $133,000 after acquiring an additional 3,243 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in Main Street Capital in the first quarter valued at $132,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MAIN shares. Oppenheimer raised their target price on shares of Main Street Capital from $41.00 to $43.00 and gave the stock a “market perform” rating in a report on Monday, February 26th. UBS Group raised their price target on Main Street Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Royal Bank of Canada upped their target price on Main Street Capital from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Truist Financial boosted their price objective on shares of Main Street Capital from $43.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, February 26th. Finally, B. Riley downgraded Main Street Capital from a “buy” rating to a “neutral” rating and set a $47.00 price target for the company. in a report on Monday, January 8th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Main Street Capital currently has an average rating of “Hold” and a consensus price target of $45.50.

Get Our Latest Report on MAIN

About Main Street Capital

(Get Free Report)

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.

Featured Stories

Dividend History for Main Street Capital (NYSE:MAIN)

Receive News & Ratings for Main Street Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Main Street Capital and related companies with MarketBeat.com's FREE daily email newsletter.