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

Main Street Capital Corporation (NYSE:MAIN) declared 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) annualized dividend and a 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. 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 Price Performance

Shares of NYSE:MAIN opened at $62.98 on Monday. The stock has a market cap of $5.63 billion, a PE ratio of 10.38 and a beta of 0.87. Main Street Capital has a 52 week low of $47.00 and a 52 week high of $67.77. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. The company’s fifty day moving average is $65.14 and its 200 day moving average is $59.81.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, hitting 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 for the quarter, compared to the consensus estimate of $137.23 million. Research analysts anticipate that Main Street Capital will post 4.11 earnings per share for the current year.

Insider Buying and Selling at Main Street Capital

In related news, Director Nicholas Meserve sold 14,000 shares of the business’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $67.15, for a total value of $940,100.00. Following the sale, the director owned 82,383 shares of the company’s stock, valued at $5,532,018.45. The trade was a 14.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of Main Street Capital by 1.2% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 15,889 shares of the financial services provider’s stock worth $939,000 after purchasing an additional 193 shares during the period. Freedom Financial Partners LLC boosted its stake in shares of Main Street Capital by 4.5% in the 2nd quarter. Freedom Financial Partners LLC now owns 5,100 shares of the financial services provider’s stock worth $301,000 after buying an additional 218 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in Main Street Capital by 2.4% during the first quarter. Nations Financial Group Inc. IA ADV now owns 9,520 shares of the financial services provider’s stock valued at $538,000 after purchasing an additional 221 shares during the period. Uncommon Cents Investing LLC lifted its position in shares of Main Street Capital by 1.4% during the first quarter. Uncommon Cents Investing LLC now owns 16,206 shares of the financial services provider’s stock worth $917,000 after acquiring an additional 231 shares in the last quarter. Finally, Sigma Planning Corp increased its holdings in shares of Main Street Capital by 0.5% in the first quarter. Sigma Planning Corp now owns 44,942 shares of the financial services provider’s stock worth $2,542,000 after purchasing an additional 236 shares during the period. 20.31% of the stock is currently owned by institutional investors.

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.