Raymond James & Associates Grows Stock Position in Main Street Capital Co. (NYSE:MAIN)

Raymond James & Associates grew its position in shares of Main Street Capital Co. (NYSE:MAINGet Rating) by 0.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,129 shares of the financial services provider’s stock after buying an additional 482 shares during the period. Raymond James & Associates’ holdings in Main Street Capital were worth $1,922,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new stake in Main Street Capital during the second quarter valued at about $30,000. Winch Advisory Services LLC lifted its stake in shares of Main Street Capital by 661.7% during the 2nd quarter. Winch Advisory Services LLC now owns 815 shares of the financial services provider’s stock valued at $31,000 after buying an additional 708 shares in the last quarter. Truvestments Capital LLC purchased a new position in Main Street Capital in the 2nd quarter valued at approximately $50,000. SeaCrest Wealth Management LLC bought a new stake in Main Street Capital during the 2nd quarter valued at $61,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Main Street Capital during the third quarter worth $67,000. Hedge funds and other institutional investors own 18.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MAIN. Hovde Group reduced their price target on Main Street Capital to $40.00 in a research report on Wednesday, October 5th. StockNews.com upgraded shares of Main Street Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, January 10th. B. Riley initiated coverage on shares of Main Street Capital in a report on Monday, December 12th. They set a “buy” rating and a $42.00 target price on the stock. Royal Bank of Canada cut their price target on shares of Main Street Capital from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Wednesday, November 9th. Finally, UBS Group initiated coverage on shares of Main Street Capital in a report on Monday, December 19th. They issued a “neutral” rating and a $40.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Main Street Capital has a consensus rating of “Hold” and a consensus price target of $41.60.

Main Street Capital Price Performance

MAIN stock opened at $39.58 on Tuesday. The firm has a 50 day simple moving average of $37.58 and a two-hundred day simple moving average of $38.76. The stock has a market cap of $3.06 billion, a PE ratio of 12.41 and a beta of 1.30. Main Street Capital Co. has a one year low of $31.66 and a one year high of $45.67. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.07 and a quick ratio of 0.07.

Main Street Capital (NYSE:MAINGet Rating) last announced its earnings results on Thursday, November 3rd. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.08. The company had revenue of $98.39 million during the quarter, compared to analyst estimates of $87.68 million. Main Street Capital had a net margin of 66.53% and a return on equity of 11.91%. On average, analysts predict that Main Street Capital Co. will post 3.2 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, February 15th. Investors of record on Wednesday, February 8th will be issued a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.03%. This is a boost from Main Street Capital’s previous monthly dividend of $0.08. The ex-dividend date of this dividend is Tuesday, February 7th. Main Street Capital’s dividend payout ratio (DPR) is currently 84.64%.

Main Street Capital Profile

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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.

See Also

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Institutional Ownership by Quarter for Main Street Capital (NYSE:MAIN)

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