Main Street Capital Corporation (NYSE:MAIN) Plans Quarterly Dividend of $0.30

Main Street Capital Corporation (NYSE:MAIN) announced a quarterly dividend on Monday, August 4th, investing.com reports. Investors of record on Wednesday, October 8th will be given 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% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities 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 opened at $62.98 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. Main Street Capital has a fifty-two week low of $47.00 and a fifty-two week high of $67.77. The firm has a market capitalization of $5.63 billion, a PE ratio of 10.38 and a beta of 0.87. The company’s 50-day moving average is $65.14 and its 200 day moving average is $59.81.

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

Insider Activity

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $67.15, for a total value of $940,100.00. Following the transaction, the director owned 82,383 shares in the company, valued at approximately $5,532,018.45. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Main Street Capital

Large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Main Street Capital by 50.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,261 shares of the financial services provider’s stock valued at $468,000 after purchasing an additional 2,756 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Main Street Capital by 10.1% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 242,857 shares of the financial services provider’s stock worth $13,736,000 after buying an additional 22,340 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of Main Street Capital in the first quarter worth approximately $578,000. Segment Wealth Management LLC lifted its stake in shares of Main Street Capital by 134.3% in the first quarter. Segment Wealth Management LLC now owns 117,994 shares of the financial services provider’s stock worth $6,674,000 after buying an additional 67,626 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Main Street Capital in the first quarter worth approximately $6,205,000. 20.31% of the stock is currently owned by hedge funds and other 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.