DnB Asset Management AS Raises Stock Position in Main Street Capital Co. (NYSE:MAIN)

DnB Asset Management AS boosted its position in Main Street Capital Co. (NYSE:MAIN) by 19.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 149,638 shares of the financial services provider’s stock after purchasing an additional 24,714 shares during the quarter. DnB Asset Management AS’s holdings in Main Street Capital were worth $8,772,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Main Street Capital in the fourth quarter worth $10,460,000. Benjamin Edwards Inc. increased its stake in Main Street Capital by 971.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 141,165 shares of the financial services provider’s stock worth $7,078,000 after acquiring an additional 127,988 shares during the last quarter. Morgan Dempsey Capital Management LLC purchased a new stake in shares of Main Street Capital in the 4th quarter valued at about $6,007,000. Van ECK Associates Corp boosted its position in shares of Main Street Capital by 7.8% during the 4th quarter. Van ECK Associates Corp now owns 1,288,309 shares of the financial services provider’s stock valued at $75,469,000 after acquiring an additional 92,833 shares during the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Main Street Capital during the fourth quarter worth about $2,626,000. 20.31% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Dwayne L. Hyzak sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the transaction, the chief executive officer now directly owns 402,371 shares in the company, valued at $23,357,636.55. This trade represents a 22.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David L. Magdol sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $5,805,000.00. Following the completion of the sale, the insider now owns 377,182 shares of the company’s stock, valued at $21,895,415.10. The trade was a 20.96 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Truist Financial lifted their target price on shares of Main Street Capital from $52.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, March 3rd.

Main Street Capital Price Performance

MAIN opened at $56.64 on Friday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $5.02 billion, a P/E ratio of 10.26 and a beta of 1.26. The stock has a 50-day moving average price of $59.67 and a 200-day moving average price of $55.74. Main Street Capital Co. has a 12-month low of $45.00 and a 12-month high of $63.32.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). The business had revenue of $140.44 million for the quarter, compared to the consensus estimate of $141.40 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. Equities analysts predict that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, March 27th. Shareholders of record on Friday, March 21st were given a dividend of $0.30 per share. This represents a yield of 7.11%. This is a positive change from Main Street Capital’s previous dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 20th. Main Street Capital’s dividend payout ratio is presently 51.37%.

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.