Main Street Capital Corporation (MAIN) to Issue Quarterly Dividend of $0.30 on October 15th

Main Street Capital Corporation (NYSE:MAIN) announced a quarterly dividend on Monday, August 4th, investing.com reports. Stockholders of record on Wednesday, October 8th will be paid a dividend of 0.30 per share by the financial services provider on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Wednesday, October 8th.

Main Street Capital has a payout ratio of 78.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Main Street Capital to earn $4.06 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 73.9%.

Main Street Capital Trading Down 1.5%

Main Street Capital stock opened at $62.98 on Monday. The stock has a 50-day simple moving average of $65.14 and a 200 day simple moving average of $59.81. The stock has a market capitalization of $5.63 billion, a P/E ratio of 10.38 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. Main Street Capital has a 52 week low of $47.00 and a 52 week high of $67.77.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.99. The company had revenue of $143.97 million during the quarter, compared to analysts’ expectations of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. Analysts expect that Main Street Capital will post 4.11 earnings per share for the current year.

Insider Activity

In other news, Director Nicholas Meserve sold 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total transaction of $940,100.00. Following the completion of the sale, the director owned 82,383 shares of the company’s stock, valued at $5,532,018.45. This trade represents a 14.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Main Street Capital

Several hedge funds and other institutional investors have recently bought and sold shares of MAIN. Jones Financial Companies Lllp boosted its position in shares of Main Street Capital by 45,123.0% during the 1st quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider’s stock worth $33,405,000 after purchasing an additional 589,307 shares in the last quarter. Invesco Ltd. boosted its holdings in Main Street Capital by 282.5% in the first quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider’s stock worth $30,105,000 after acquiring an additional 393,101 shares in the last quarter. HRT Financial LP grew its stake in Main Street Capital by 147.7% in the second quarter. HRT Financial LP now owns 213,431 shares of the financial services provider’s stock valued at $12,613,000 after acquiring an additional 127,270 shares during the period. Victory Capital Management Inc. acquired a new stake in Main Street Capital in the 1st quarter valued at $6,205,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Main Street Capital during the first quarter valued at about $4,840,000. 20.31% of the stock is owned by institutional investors.

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.