Main Street Capital Co. (NYSE:MAIN – Get Rating) declared a dividend on Monday, August 1st, NASDAQ reports. Stockholders of record on Tuesday, September 20th will be given a dividend of 0.10 per share by the financial services provider on Tuesday, September 27th. The ex-dividend date is Monday, September 19th. This is a positive change from Main Street Capital's previous dividend of $0.08.
Main Street Capital has decreased its dividend by an average of 3.1% per year over the last three years and has raised its dividend every year for the last 12 years. Main Street Capital has a payout ratio of 82.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Analysts expect Main Street Capital to earn $3.17 per share next year, which means the company should continue to be able to cover its $2.64 annual dividend with an expected future payout ratio of 83.3%.Get Main Street Capital alerts:
Main Street Capital Trading Down 0.1 %
NYSE:MAIN opened at $39.72 on Friday. Main Street Capital has a 1 year low of $34.35 and a 1 year high of $47.13. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 10.82 and a beta of 1.28. The business has a fifty day moving average of $42.29 and a 200-day moving average of $40.64. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.06 and a current ratio of 0.06.
Institutional Investors Weigh In On Main Street CapitalHedge funds have recently modified their holdings of the stock. First Republic Investment Management Inc. lifted its holdings in shares of Main Street Capital by 26.4% during the first quarter. First Republic Investment Management Inc. now owns 33,714 shares of the financial services provider's stock valued at $1,438,000 after purchasing an additional 7,051 shares during the last quarter. Bank of America Corp DE lifted its stake in Main Street Capital by 13.6% in the 1st quarter. Bank of America Corp DE now owns 33,734 shares of the financial services provider's stock worth $1,438,000 after acquiring an additional 4,045 shares in the last quarter. SS&H Financial Advisors Inc. purchased a new stake in Main Street Capital in the 1st quarter worth about $1,079,000. Captrust Financial Advisors purchased a new stake in Main Street Capital in the 2nd quarter worth about $597,000. Finally, Quantbot Technologies LP purchased a new stake in Main Street Capital in the 1st quarter worth about $514,000. 19.11% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
MAIN has been the subject of several recent analyst reports. Hovde Group decreased their price target on Main Street Capital to $37.00 in a research note on Friday, May 20th. TheStreet raised Main Street Capital from a "c+" rating to a "b-" rating in a research note on Tuesday, July 19th. Finally, Raymond James cut Main Street Capital from an "outperform" rating to a "market perform" rating in a research note on Monday, August 8th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $42.80.
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.
- Get a free copy of the StockNews.com research report on Main Street Capital (MAIN)
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