Main Street Capital Co. (NYSE:MAIN) Announces Dividend Increase – $0.28 Per Share

Main Street Capital Co. (NYSE:MAIN) declared a dividend on Friday, September 15th, investing.com reports. Investors of record on Wednesday, September 20th will be paid a dividend of 0.275 per share by the financial services provider on Wednesday, September 27th. This represents a yield of 8.55%. The ex-dividend date is Tuesday, September 19th. This is an increase from Main Street Capital’s previous dividend of $0.23.

Main Street Capital has raised its dividend payment by an average of 2.3% per year over the last three years and has raised its dividend every year for the last 12 years. Main Street Capital has a dividend payout ratio of 72.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Main Street Capital to earn $3.88 per share next year, which means the company should continue to be able to cover its $2.82 annual dividend with an expected future payout ratio of 72.7%.

Main Street Capital Stock Performance

Shares of MAIN opened at $40.89 on Friday. The firm has a fifty day moving average of $40.89 and a 200-day moving average of $40.15. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 9.23 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.10 and a current ratio of 0.10. Main Street Capital has a 1 year low of $31.66 and a 1 year high of $43.15.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. Main Street Capital had a net margin of 75.58% and a return on equity of 14.33%. The firm had revenue of $127.58 million for the quarter, compared to the consensus estimate of $120.03 million. As a group, equities analysts anticipate that Main Street Capital will post 4.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. StockNews.com initiated coverage on Main Street Capital in a report on Thursday, August 17th. They issued a “hold” rating for the company. B. Riley increased their price target on Main Street Capital from $46.00 to $47.00 in a research note on Monday, August 7th. Oppenheimer reissued a “market perform” rating and set a $41.00 price target on shares of Main Street Capital in a report on Monday, August 7th. Finally, Hovde Group raised shares of Main Street Capital from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a report on Friday, June 30th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $43.67.

Institutional Trading of Main Street Capital

Hedge funds and other institutional investors have recently modified their holdings of the company. Mutual Advisors LLC raised its holdings in shares of Main Street Capital by 4.9% during the second quarter. Mutual Advisors LLC now owns 5,900 shares of the financial services provider’s stock valued at $227,000 after acquiring an additional 273 shares during the period. First Republic Investment Management Inc. boosted its position in shares of Main Street Capital by 0.9% in the second quarter. First Republic Investment Management Inc. now owns 34,031 shares of the financial services provider’s stock worth $1,311,000 after buying an additional 317 shares during the period. Harbour Investments Inc. boosted its position in Main Street Capital by 15.6% during the 4th quarter. Harbour Investments Inc. now owns 2,636 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 356 shares during the period. Baird Financial Group Inc. grew its stake in Main Street Capital by 1.3% during the 3rd quarter. Baird Financial Group Inc. now owns 31,851 shares of the financial services provider’s stock valued at $1,071,000 after acquiring an additional 417 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its holdings in shares of Main Street Capital by 5.7% during the third quarter. Guggenheim Capital LLC now owns 8,001 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 432 shares during the period. Institutional investors own 20.20% of the company’s stock.

About Main Street Capital

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.