D.B. Root & Company LLC Invests $602,000 in Main Street Capital Corporation $MAIN

D.B. Root & Company LLC bought a new stake in Main Street Capital Corporation (NYSE:MAIN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,608 shares of the financial services provider’s stock, valued at approximately $602,000.

Other hedge funds have also recently modified their holdings of the company. Corient Private Wealth LLC lifted its position in Main Street Capital by 3,880.8% in the fourth quarter. Corient Private Wealth LLC now owns 890,461 shares of the financial services provider’s stock valued at $53,774,000 after acquiring an additional 868,092 shares during the last quarter. UBS Group AG increased its position in shares of Main Street Capital by 160.7% during the third quarter. UBS Group AG now owns 866,884 shares of the financial services provider’s stock worth $55,125,000 after purchasing an additional 534,374 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Main Street Capital in the 2nd quarter valued at about $20,940,000. Goldman Sachs Group Inc. boosted its position in shares of Main Street Capital by 637.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 356,799 shares of the financial services provider’s stock valued at $21,547,000 after purchasing an additional 308,404 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Main Street Capital by 6.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,734,461 shares of the financial services provider’s stock worth $165,135,000 after buying an additional 162,580 shares during the last quarter. 20.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Jason B. Beauvais sold 6,830 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $51.73, for a total transaction of $353,315.90. Following the sale, the executive vice president owned 196,185 shares of the company’s stock, valued at $10,148,650.05. The trade was a 3.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ryan Mchugh purchased 2,550 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average price of $59.05 per share, for a total transaction of $150,577.50. Following the acquisition, the chief accounting officer owned 22,647 shares in the company, valued at approximately $1,337,305.35. This trade represents a 12.69% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 3.83% of the company’s stock.

Main Street Capital Trading Up 0.1%

Shares of MAIN stock opened at $58.33 on Monday. The business’s fifty day moving average price is $54.16 and its 200 day moving average price is $54.64. The firm has a market capitalization of $5.45 billion, a PE ratio of 11.76 and a beta of 0.71. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.05 and a quick ratio of 0.05. Main Street Capital Corporation has a 1-year low of $48.95 and a 1-year high of $67.34.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, August 6th. The financial services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Main Street Capital had a return on equity of 11.80% and a net margin of 78.49%.The company had revenue of $327.56 million during the quarter, compared to the consensus estimate of $144.59 million. As a group, sell-side analysts forecast that Main Street Capital Corporation will post 3.77 EPS for the current fiscal year.

Main Street Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 8th will be paid a $0.265 dividend. The ex-dividend date is Tuesday, December 8th. This represents a c) annualized dividend and a dividend yield of 5.5%. Main Street Capital’s dividend payout ratio (DPR) is 64.11%.

Wall Street Analysts Forecast Growth

MAIN has been the subject of several research analyst reports. Royal Bank Of Canada decreased their price objective on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, May 14th. Truist Financial lifted their price objective on shares of Main Street Capital from $53.00 to $57.00 and gave the company a “hold” rating in a research note on Monday, August 10th. Zacks Research raised Main Street Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Wells Fargo & Company increased their price objective on Main Street Capital from $50.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. Finally, Weiss Ratings downgraded Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $60.83.

About Main Street Capital

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.