Sumitomo Mitsui Trust Group Inc. Purchases 14,962 Shares of Main Street Capital Corporation $MAIN

Sumitomo Mitsui Trust Group Inc. grew its position in Main Street Capital Corporation (NYSE:MAIN) by 4.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 370,509 shares of the financial services provider’s stock after purchasing an additional 14,962 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Main Street Capital were worth $19,622,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Corient Private Wealth LLC lifted its stake in shares of Main Street Capital by 3,880.8% during 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 period. UBS Group AG increased its position in Main Street Capital by 160.7% in 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 during the period. Goldman Sachs Group Inc. raised its holdings in Main Street Capital by 637.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 356,799 shares of the financial services provider’s stock worth $21,547,000 after purchasing an additional 308,404 shares during the last quarter. Childress Capital Advisors LLC lifted its position in Main Street Capital by 165.2% during the 4th quarter. Childress Capital Advisors LLC now owns 293,733 shares of the financial services provider’s stock valued at $17,739,000 after purchasing an additional 182,973 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Main Street Capital by 90.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 382,450 shares of the financial services provider’s stock valued at $24,320,000 after purchasing an additional 181,733 shares during the period. Institutional investors own 20.31% of the company’s stock.

Insiders Place Their Bets

In other Main Street Capital news, EVP Jason B. Beauvais sold 6,830 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $51.73, for a total value of $353,315.90. Following the completion of the transaction, the executive vice president directly owned 196,185 shares of the company’s stock, valued at approximately $10,148,650.05. The trade was a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.83% of the company’s stock.

Main Street Capital Stock Down 0.5%

Shares of NYSE:MAIN opened at $52.56 on Tuesday. Main Street Capital Corporation has a 52 week low of $48.95 and a 52 week high of $67.77. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.06 and a current ratio of 0.06. The company has a market capitalization of $4.89 billion, a PE ratio of 11.07 and a beta of 0.72. The company has a 50 day moving average price of $51.72 and a two-hundred day moving average price of $55.91.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.11). Main Street Capital had a return on equity of 12.01% and a net margin of 74.86%.The firm had revenue of $73.44 million for the quarter, compared to the consensus estimate of $145.23 million. Analysts forecast that Main Street Capital Corporation will post 3.78 earnings per share for the current year.

Main Street Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 8th will be paid a dividend of $0.265 per share. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Tuesday, September 8th. Main Street Capital’s dividend payout ratio (DPR) is presently 66.95%.

Analyst Ratings Changes

Several equities research analysts have recently commented on MAIN shares. Citizens Jmp lowered their price target on shares of Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 22nd. Wall Street Zen lowered shares of Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Wells Fargo & Company started coverage on shares of Main Street Capital in a research note on Friday, May 22nd. They issued an “equal weight” rating and a $50.00 price objective on the stock. Zacks Research lowered shares of Main Street Capital from a “hold” rating to a “strong sell” rating in a report on Thursday, May 28th. Finally, Weiss Ratings cut shares of Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Main Street Capital currently has a consensus rating of “Hold” and a consensus price target of $59.14.

Main Street Capital Profile

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.