Dearborn Partners LLC Takes $1.53 Million Position in Main Street Capital Corporation $MAIN

Dearborn Partners LLC acquired a new position in shares of Main Street Capital Corporation (NYSE:MAIN) in the 2nd quarter, HoldingsChannel reports. The firm acquired 28,832 shares of the financial services provider’s stock, valued at approximately $1,527,000.

A number of other institutional investors also recently bought and sold shares of MAIN. Adell Harriman & Carpenter Inc. lifted its holdings in Main Street Capital by 5.3% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 478,435 shares of the financial services provider’s stock valued at $28,893,000 after acquiring an additional 23,942 shares during the last quarter. Entropy Technologies LP acquired a new stake in Main Street Capital during the first quarter worth $1,964,000. Brighton Jones LLC acquired a new stake in Main Street Capital during the fourth quarter worth $304,000. Legal & General Group Plc raised its position in Main Street Capital by 15.2% in the fourth quarter. Legal & General Group Plc now owns 719,967 shares of the financial services provider’s stock valued at $43,479,000 after purchasing an additional 95,177 shares during the period. Finally, LGT Fund Management Co Ltd. purchased a new stake in Main Street Capital in the first quarter valued at $1,470,000. 20.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MAIN shares. Royal Bank Of Canada decreased their price target on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. Citigroup reissued a “market outperform” rating on shares of Main Street Capital in a research report on Monday, August 10th. Wall Street Zen lowered shares of Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Zacks Research raised shares of Main Street Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Wells Fargo & Company increased their target price on shares of Main Street Capital from $50.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $60.83.

Insider Transactions at Main Street Capital

In other Main Street Capital news, EVP Jason B. Beauvais sold 6,830 shares of Main Street Capital stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $51.73, for a total value of $353,315.90. Following the completion of the transaction, the executive vice president directly owned 196,185 shares of the company’s stock, valued at $10,148,650.05. The trade was a 3.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Ryan Mchugh purchased 2,550 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were acquired at an average price of $59.05 per share, for a total transaction of $150,577.50. Following the completion of the purchase, the chief accounting officer directly owned 22,647 shares of the company’s stock, valued at approximately $1,337,305.35. This trade represents a 12.69% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 3.83% of the company’s stock.

Main Street Capital Stock Up 1.1%

NYSE:MAIN opened at $58.92 on Tuesday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.11. The stock’s fifty day moving average is $54.32 and its two-hundred day moving average is $54.62. Main Street Capital Corporation has a 52 week low of $48.95 and a 52 week high of $67.34. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 11.88 and a beta of 0.71.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Main Street Capital had a return on equity of 11.80% and a net margin of 78.49%.The business had revenue of $327.56 million during the quarter, compared to analysts’ expectations of $144.59 million. Research analysts anticipate that Main Street Capital Corporation will post 3.77 EPS for the current year.

Main Street Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 8th will be issued a dividend of $0.265 per share. This represents a c) dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Tuesday, December 8th. Main Street Capital’s dividend payout ratio (DPR) is 64.11%.

Main Street Capital Profile

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.