Main Street Capital Co. (MAIN) To Go Ex-Dividend on May 8th

Main Street Capital Co. (NYSE:MAIN) announced a dividend on Friday, May 2nd, investing.com reports. Investors of record on Friday, May 9th will be paid a dividend of 0.25 per share by the financial services provider on Thursday, May 15th. This represents a dividend yield of 5.7%. The ex-dividend date of this dividend is Thursday, May 8th.

Main Street Capital has raised its dividend payment by an average of 8.6% annually over the last three years. Main Street Capital has a payout ratio of 75.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 $3.00 annual dividend with an expected future payout ratio of 73.9%.

Main Street Capital Trading Down 1.3 %

MAIN opened at $53.12 on Tuesday. The business’s 50 day moving average price is $55.26 and its 200 day moving average price is $56.29. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.08 and a current ratio of 0.08. The stock has a market capitalization of $4.70 billion, a PE ratio of 9.62 and a beta of 0.86. Main Street Capital has a one year low of $45.00 and a one year high of $63.32.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The business had revenue of $140.44 million for the quarter, compared to analysts’ expectations of $141.40 million. As a group, equities research analysts expect that Main Street Capital will post 4.11 EPS for the current year.

Insider Transactions at Main Street Capital

In related news, CEO Dwayne L. Hyzak sold 120,000 shares of the company’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $6,966,000.00. Following the completion of the sale, the chief executive officer now owns 402,371 shares in the company, valued at $23,357,636.55. This represents a 22.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David L. Magdol sold 100,000 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the completion of the sale, the insider now directly owns 377,182 shares of the company’s stock, valued at $21,895,415.10. The trade was a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Institutional Trading of Main Street Capital

A hedge fund recently bought a new stake in Main Street Capital stock. Brighton Jones LLC acquired a new stake in Main Street Capital Co. (NYSE:MAIN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,185 shares of the financial services provider’s stock, valued at approximately $304,000. Institutional investors own 20.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group decreased their target price on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Truist Financial increased their price objective on shares of Main Street Capital from $52.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Main Street Capital currently has a consensus rating of “Hold” and a consensus target price of $52.60.

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.