Monterey Private Wealth Inc. Makes New Investment in Main Street Capital Co. (NYSE:MAIN)

Monterey Private Wealth Inc. acquired a new stake in shares of Main Street Capital Co. (NYSE:MAIN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,755 shares of the financial services provider’s stock, valued at approximately $220,000.

A number of other hedge funds have also recently modified their holdings of the business. Envestnet Asset Management Inc. boosted its position in shares of Main Street Capital by 25.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 91,243 shares of the financial services provider’s stock worth $4,607,000 after purchasing an additional 18,635 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Main Street Capital by 6.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 65,419 shares of the financial services provider’s stock worth $3,303,000 after acquiring an additional 4,184 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Main Street Capital in the second quarter worth $312,000. AE Wealth Management LLC bought a new position in shares of Main Street Capital during the second quarter valued at $245,000. Finally, ProShare Advisors LLC raised its position in shares of Main Street Capital by 8.2% in the 2nd quarter. ProShare Advisors LLC now owns 12,884 shares of the financial services provider’s stock worth $651,000 after purchasing an additional 971 shares during the last quarter. Institutional investors own 20.31% of the company’s stock.

Main Street Capital Stock Performance

Shares of MAIN opened at $60.03 on Tuesday. Main Street Capital Co. has a 12 month low of $43.52 and a 12 month high of $60.87. The business’s fifty day simple moving average is $56.19 and its two-hundred day simple moving average is $52.42. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 10.88 and a beta of 1.28.

Main Street Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 7th will be given a $0.30 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date of this dividend is Friday, February 7th. Main Street Capital’s dividend payout ratio (DPR) is 54.35%.

Analyst Upgrades and Downgrades

Separately, B. Riley increased their price objective on shares of Main Street Capital from $49.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $48.80.

Main Street Capital Company 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.