Main Street Capital Corporation $MAIN Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. lifted its holdings in shares of Main Street Capital Corporation (NYSE:MAIN) by 18.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 306,645 shares of the financial services provider’s stock after acquiring an additional 47,000 shares during the period. Franklin Resources Inc.’s holdings in Main Street Capital were worth $18,123,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Legal & General Group Plc raised its holdings in Main Street Capital by 3.7% during the second quarter. Legal & General Group Plc now owns 675,495 shares of the financial services provider’s stock worth $39,918,000 after purchasing an additional 24,248 shares in the last quarter. MAI Capital Management lifted its holdings in shares of Main Street Capital by 2.7% in the 2nd quarter. MAI Capital Management now owns 13,694 shares of the financial services provider’s stock valued at $809,000 after purchasing an additional 356 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Main Street Capital by 49.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 200,717 shares of the financial services provider’s stock valued at $11,862,000 after purchasing an additional 65,979 shares during the period. Nomura Asset Management Co. Ltd. increased its position in Main Street Capital by 28.7% during the second quarter. Nomura Asset Management Co. Ltd. now owns 13,165 shares of the financial services provider’s stock worth $778,000 after buying an additional 2,935 shares during the period. Finally, Midwest Professional Planners LTD. increased its position in Main Street Capital by 109.9% during the second quarter. Midwest Professional Planners LTD. now owns 54,772 shares of the financial services provider’s stock worth $3,237,000 after buying an additional 28,676 shares during the period. 20.31% of the stock is owned by institutional investors and hedge funds.

Main Street Capital Trading Up 1.3%

Shares of Main Street Capital stock opened at $58.45 on Friday. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 9.63 and a beta of 0.84. Main Street Capital Corporation has a 52-week low of $47.00 and a 52-week high of $67.77. The company’s 50-day simple moving average is $58.96 and its 200-day simple moving average is $60.83. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.09). Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. The business had revenue of $151.23 million during the quarter, compared to analysts’ expectations of $140.53 million. As a group, equities research analysts anticipate that Main Street Capital Corporation will post 4.11 earnings per share for the current year.

Main Street Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, March 6th will be given a $0.26 dividend. The ex-dividend date is Friday, March 6th. This represents a c) annualized dividend and a yield of 5.3%. Main Street Capital’s dividend payout ratio is presently 50.75%.

Analyst Ratings Changes

MAIN has been the topic of a number of research reports. Truist Financial lowered their target price on shares of Main Street Capital from $64.00 to $60.00 and set a “hold” rating on the stock in a research report on Wednesday, October 15th. Royal Bank Of Canada raised their price objective on shares of Main Street Capital from $52.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. B. Riley reduced their target price on shares of Main Street Capital from $64.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, November 12th. Wall Street Zen lowered Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Zacks Research cut Main Street Capital from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $59.60.

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.