Main Street Capital Corporation (NYSE:MAIN) Announces $0.30 Quarterly Dividend

Main Street Capital Corporation (NYSE:MAIN) declared a quarterly dividend on Monday, August 4th, investing.com reports. Stockholders of record on Wednesday, October 8th will be paid 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 is Wednesday, October 8th.

Main Street Capital has a payout ratio of 78.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research 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 Price Performance

Shares of Main Street Capital stock opened at $62.98 on Monday. Main Street Capital has a fifty-two week low of $47.00 and a fifty-two week high of $67.77. The company has a market cap of $5.63 billion, a PE ratio of 10.38 and a beta of 0.87. The firm has a fifty day moving average price of $65.14 and a two-hundred day moving average price of $59.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09.

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

Insider Activity

In related news, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total transaction of $940,100.00. Following the transaction, the director owned 82,383 shares of the company’s stock, valued at $5,532,018.45. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.00% of the company’s stock.

Institutional Trading of Main Street Capital

Institutional investors and hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC grew its stake in Main Street Capital by 109.6% in the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 250 shares in the last quarter. Financial Network Wealth Advisors LLC acquired a new position in Main Street Capital during the first quarter worth $39,000. Spire Wealth Management acquired a new stake in Main Street Capital in the first quarter valued at $40,000. Wellington Shields & Co. LLC acquired a new position in shares of Main Street Capital during the 1st quarter worth about $41,000. Finally, Quarry LP bought a new stake in shares of Main Street Capital in the 1st quarter valued at about $48,000. 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.