Main Street Capital Corporation (NYSE:MAIN) Declares $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) annualized dividend 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 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 Trading Down 1.5%

Shares of NYSE MAIN opened at $62.98 on Monday. The company has a market cap of $5.63 billion, a PE ratio of 10.38 and a beta of 0.87. The firm’s 50 day moving average price is $65.14 and its 200-day moving average price is $59.81. Main Street Capital has a 52-week low of $47.00 and a 52-week high of $67.77. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09.

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

Insiders Place Their Bets

In related news, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $67.15, for a total transaction 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Main Street Capital

Several large investors have recently modified their holdings of MAIN. Brighton Jones LLC bought a new stake in shares of Main Street Capital in the 4th quarter valued at about $304,000. GAMMA Investing LLC grew its position in shares of Main Street Capital by 5,557.9% in the 1st 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 last quarter. NBC Securities Inc. purchased a new stake in Main Street Capital during the 1st quarter worth approximately $54,000. Merit Financial Group LLC purchased a new stake in Main Street Capital during the 1st quarter worth approximately $212,000. Finally, Park Avenue Securities LLC grew its position in Main Street Capital by 89.6% during the 1st 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 during the last quarter. 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.