Baird Financial Group Inc. Has $1.62 Million Stock Position in Main Street Capital Co. (NYSE:MAIN)

Baird Financial Group Inc. lifted its stake in Main Street Capital Co. (NYSE:MAIN) by 7.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,681 shares of the financial services provider’s stock after buying an additional 1,923 shares during the period. Baird Financial Group Inc.’s holdings in Main Street Capital were worth $1,622,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wealthstar Advisors LLC acquired a new position in shares of Main Street Capital in the 4th quarter worth approximately $1,326,000. Franklin Resources Inc. raised its holdings in shares of Main Street Capital by 19.3% in the 3rd quarter. Franklin Resources Inc. now owns 217,461 shares of the financial services provider’s stock worth $11,119,000 after buying an additional 35,227 shares in the last quarter. Segment Wealth Management LLC raised its holdings in shares of Main Street Capital by 15.8% in the 4th quarter. Segment Wealth Management LLC now owns 50,368 shares of the financial services provider’s stock worth $2,951,000 after buying an additional 6,856 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Main Street Capital in the 4th quarter worth approximately $957,000. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Main Street Capital by 270.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 9,301 shares of the financial services provider’s stock worth $545,000 after buying an additional 6,793 shares in the last quarter. 20.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MAIN. UBS Group dropped their target price on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Truist Financial dropped their target price on Main Street Capital from $62.00 to $54.00 and set a “hold” rating for the company in a report on Monday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Main Street Capital currently has an average rating of “Hold” and an average price target of $51.00.

Main Street Capital Stock Up 1.7%

NYSE MAIN opened at $53.87 on Tuesday. The firm has a market cap of $4.77 billion, a PE ratio of 9.76 and a beta of 0.86. Main Street Capital Co. has a one year low of $45.00 and a one year high of $63.32. The stock’s 50 day simple moving average is $54.64 and its 200 day simple moving average is $56.33. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. The business had revenue of $137.05 million for the quarter, compared to analyst estimates of $137.50 million. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. As a group, sell-side analysts forecast that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.255 dividend. This represents a $3.06 dividend on an annualized basis and a yield of 5.68%. This is a positive change from Main Street Capital’s previous monthly dividend of $0.25. The ex-dividend date of this dividend is Monday, September 8th. Main Street Capital’s dividend payout ratio (DPR) is presently 50.93%.

Insider Buying and Selling at Main Street Capital

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

Main Street Capital 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.