Main Street Capital Co. (NYSE:MAIN) Plans Dividend Increase – $0.30 Per Share

Main Street Capital Co. (NYSE:MAINGet Free Report) declared a monthly dividend on Tuesday, February 20th, investing.com reports. Investors of record on Monday, April 8th will be paid a dividend of 0.30 per share by the financial services provider on Monday, April 15th. This represents a $3.60 annualized dividend and a dividend yield of 7.64%. The ex-dividend date of this dividend is Friday, April 5th. This is a positive change from Main Street Capital’s previous monthly dividend of $0.24.

Main Street Capital has increased its dividend payment by an average of 6.8% per year over the last three years. Main Street Capital has a payout ratio of 74.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Main Street Capital to earn $3.90 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 73.8%.

Main Street Capital Stock Performance

Shares of MAIN opened at $47.13 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.09 and a current ratio of 0.09. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 9.03 and a beta of 1.29. The company’s 50 day simple moving average is $45.69 and its 200 day simple moving average is $42.93. Main Street Capital has a 1 year low of $37.70 and a 1 year high of $47.63.

Main Street Capital (NYSE:MAINGet Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.06. The business had revenue of $129.31 million for the quarter, compared to the consensus estimate of $125.52 million. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. On average, sell-side analysts predict that Main Street Capital will post 4.07 EPS for the current year.

Wall Street Analyst Weigh In

MAIN has been the topic of a number of recent analyst reports. UBS Group increased their price target on shares of Main Street Capital from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Royal Bank of Canada increased their price target on shares of Main Street Capital from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. Truist Financial increased their price target on shares of Main Street Capital from $43.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, February 26th. Oppenheimer increased their price target on shares of Main Street Capital from $41.00 to $43.00 and gave the stock a “market perform” rating in a research note on Monday, February 26th. Finally, B. Riley downgraded shares of Main Street Capital from a “buy” rating to a “neutral” rating and set a $47.00 price target on the stock. in a research note on Monday, January 8th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Main Street Capital currently has a consensus rating of “Hold” and an average price target of $45.50.

Check Out Our Latest Stock Analysis on MAIN

Hedge Funds Weigh In On Main Street Capital

A number of hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its stake in shares of Main Street Capital by 2.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,435,508 shares of the financial services provider’s stock valued at $148,518,000 after acquiring an additional 71,698 shares during the period. Morgan Stanley raised its stake in shares of Main Street Capital by 4.8% in the 3rd quarter. Morgan Stanley now owns 795,511 shares of the financial services provider’s stock valued at $32,322,000 after acquiring an additional 36,668 shares during the period. Legal & General Group Plc grew its holdings in Main Street Capital by 9.7% during the 4th quarter. Legal & General Group Plc now owns 645,866 shares of the financial services provider’s stock valued at $27,914,000 after purchasing an additional 57,376 shares in the last quarter. Royal Bank of Canada increased its stake in Main Street Capital by 6.6% during the 2nd quarter. Royal Bank of Canada now owns 192,153 shares of the financial services provider’s stock worth $7,693,000 after buying an additional 11,847 shares during the period. Finally, Millennium Management LLC purchased a new stake in Main Street Capital during the 4th quarter worth $6,674,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

About Main Street Capital

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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.

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Dividend History for Main Street Capital (NYSE:MAIN)

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