Main Street Capital (NYSE:MAIN) Reaches New 12-Month High Following Dividend Announcement

Main Street Capital Co. (NYSE:MAIN)’s stock price hit a new 52-week high during trading on Friday following a dividend announcement from the company. The stock traded as high as $52.63 and last traded at $52.11, with a volume of 193037 shares trading hands. The stock had previously closed at $51.50.

The newly announced dividend which will be paid on Friday, March 14th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a yield of 5.78%. The ex-dividend date is Friday, March 7th. This is a boost from Main Street Capital’s previous monthly dividend of $0.25. Main Street Capital’s dividend payout ratio is 54.95%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MAIN shares. Oppenheimer boosted their target price on shares of Main Street Capital from $43.00 to $44.00 and gave the company a “market perform” rating in a research note on Tuesday, August 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $52.00 price objective on shares of Main Street Capital in a research report on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $48.40.

Main Street Capital Stock Performance

The company’s fifty day simple moving average is $50.55 and its two-hundred day simple moving average is $50.00. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of 9.67 and a beta of 1.29. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.07 and a current ratio of 0.07.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results on Thursday, August 8th. The financial services provider reported $1.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.01. The business had revenue of $132.15 million during the quarter, compared to the consensus estimate of $132.62 million. Main Street Capital had a return on equity of 14.06% and a net margin of 87.58%. During the same period in the previous year, the business earned $1.06 EPS. Equities research analysts predict that Main Street Capital Co. will post 4.12 earnings per share for the current fiscal year.

Institutional Trading of Main Street Capital

A number of institutional investors and hedge funds have recently modified their holdings of the business. Godsey & Gibb Inc. bought a new stake in shares of Main Street Capital during the 3rd quarter valued at about $28,000. Triad Wealth Partners LLC acquired a new position in Main Street Capital in the second quarter valued at approximately $38,000. Optimum Investment Advisors raised its position in shares of Main Street Capital by 100.0% during the 2nd quarter. Optimum Investment Advisors now owns 1,000 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 500 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Main Street Capital by 59.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,089 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 405 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Main Street Capital during the 2nd quarter valued at approximately $79,000. 20.31% of the stock is owned by institutional investors and hedge funds.

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.