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. Investors 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 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 Performance

MAIN opened at $62.98 on Monday. The stock has a market cap of $5.63 billion, a P/E ratio of 10.38 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a fifty day moving average price of $65.14 and a 200 day moving average price of $59.81. Main Street Capital has a 1 year low of $47.00 and a 1 year high of $67.77.

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, hitting analysts’ consensus estimates of $0.99. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. The business had revenue of $143.97 million during the quarter, compared to the consensus estimate of $137.23 million. Equities research analysts anticipate that Main Street Capital will post 4.11 earnings per share for the current year.

Insider Activity at Main Street Capital

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of the business’s stock in a transaction on Thursday, August 14th. The stock was 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 approximately $5,532,018.45. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its stake in shares of Main Street Capital by 109.6% in the 2nd 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 during the last quarter. Financial Network Wealth Advisors LLC purchased a new position in Main Street Capital during the first quarter worth about $39,000. Spire Wealth Management acquired a new stake in shares of Main Street Capital during the first quarter valued at about $40,000. Wellington Shields & Co. LLC acquired a new stake in shares of Main Street Capital during the first quarter valued at about $41,000. Finally, Quarry LP purchased a new stake in shares of Main Street Capital in the 1st quarter valued at approximately $48,000. 20.31% of the stock is currently owned by institutional investors and hedge funds.

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.