Main Street Capital Corporation (NYSE:MAIN) Plans $0.26 Monthly Dividend

Main Street Capital Corporation (NYSE:MAIN) declared a monthly dividend on Monday, August 4th. Investors of record on Friday, November 7th will be given a dividend of 0.255 per share by the financial services provider on Friday, November 14th. This represents a c) dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Friday, November 7th.

Main Street Capital has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 4 years. Main Street Capital has a dividend payout ratio of 80.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 $3.06 annual dividend with an expected future payout ratio of 75.4%.

Main Street Capital Price Performance

Shares of Main Street Capital stock traded down $0.95 during trading on Wednesday, hitting $56.22. 45,873 shares of the stock traded hands, compared to its average volume of 559,840. The firm’s fifty day moving average is $62.00 and its 200-day moving average is $60.41. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 9.27 and a beta of 0.84. 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.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 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 expect that Main Street Capital will post 4.11 EPS for the current fiscal year.

Insider Activity at Main Street Capital

In related news, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction on Thursday, August 14th. The shares were 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 in the company, valued at $5,532,018.45. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Main Street Capital

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Uncommon Cents Investing LLC boosted its position in shares of Main Street Capital by 1.2% during the third quarter. Uncommon Cents Investing LLC now owns 16,627 shares of the financial services provider’s stock valued at $1,057,000 after buying an additional 190 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in Main Street Capital by 1.2% in 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 last quarter. Freedom Financial Partners LLC grew its position in 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 purchasing an additional 218 shares during the period. Nations Financial Group Inc. IA ADV raised its stake in Main Street Capital by 2.4% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 9,520 shares of the financial services provider’s stock valued at $538,000 after buying an additional 221 shares during the last quarter. Finally, Sigma Planning Corp lifted its holdings in shares of Main Street Capital by 0.5% during the 1st quarter. Sigma Planning Corp now owns 44,942 shares of the financial services provider’s stock valued at $2,542,000 after buying an additional 236 shares during the period. Hedge funds and other institutional investors own 20.31% of the company’s stock.

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.