Main Street Capital Corporation (MAIN) To Go Ex-Dividend on October 8th

Main Street Capital Corporation (NYSE:MAIN) announced a quarterly dividend on Monday, August 4th, investing.com reports. Stockholders of record on Wednesday, October 8th will be given a dividend of 0.30 per share by the financial services provider on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 8th.

Main Street Capital has a dividend payout ratio of 78.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities 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 Stock Down 1.5%

MAIN stock opened at $62.98 on Monday. Main Street Capital has a 52 week low of $47.00 and a 52 week high of $67.77. The stock has a market capitalization of $5.63 billion, a P/E ratio of 10.38 and a beta of 0.87. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. The firm has a 50-day simple moving average of $65.14 and a 200-day simple moving average of $59.81.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.99. The company had revenue of $143.97 million during the quarter, compared to analysts’ expectations of $137.23 million. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. Equities analysts forecast that Main Street Capital will post 4.11 earnings per share for the current fiscal year.

Insider Activity at Main Street Capital

In related news, Director Nicholas Meserve sold 14,000 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $67.15, for a total value of $940,100.00. Following the completion of the sale, the director owned 82,383 shares in the company, valued at $5,532,018.45. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Main Street Capital

A number of hedge funds and other institutional investors have recently modified their holdings of MAIN. Brighton Jones LLC purchased a new stake in shares of Main Street Capital during the fourth quarter worth about $304,000. GAMMA Investing LLC grew its stake in Main Street Capital by 5,557.9% during the first quarter. GAMMA Investing LLC now owns 1,075 shares of the financial services provider’s stock worth $61,000 after buying an additional 1,056 shares during the period. NBC Securities Inc. purchased a new stake in Main Street Capital during the first quarter worth approximately $54,000. Merit Financial Group LLC acquired a new position in shares of Main Street Capital during the first quarter worth $212,000. Finally, Park Avenue Securities LLC lifted its position in shares of Main Street Capital by 89.6% during the first quarter. Park Avenue Securities LLC now owns 7,186 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 3,396 shares in the last quarter. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

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.