Advisors Asset Management Inc. Grows Position in Main Street Capital Corporation $MAIN

Key Points

• Advisors Asset Management Inc. increased its stake in Main Street Capital Corporation by 7.0%, owning 109,897 shares valued at approximately $6.2 million.
• Main Street Capital will pay a monthly dividend of $0.255 per share on November 14th, with a dividend yield of 4.6%.
• Analysts have given Main Street Capital a consensus rating of "Moderate Buy" with an average target price of $61.20, based on recent upgrades from several research firms.

Advisors Asset Management Inc. lifted its position in Main Street Capital Corporation (NYSE:MAIN - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,897 shares of the financial services provider's stock after acquiring an additional 7,192 shares during the period. Advisors Asset Management Inc. owned 0.12% of Main Street Capital worth $6,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC acquired a new position in shares of Main Street Capital in the first quarter valued at about $39,000. Spire Wealth Management acquired a new stake in shares of Main Street Capital during the first quarter worth about $40,000. Wellington Shields & Co. LLC purchased a new stake in Main Street Capital in the first quarter valued at approximately $41,000. Quarry LP acquired a new position in Main Street Capital in the 1st quarter worth approximately $48,000. Finally, NBC Securities Inc. purchased a new position in Main Street Capital during the 1st quarter worth approximately $54,000. Institutional investors and hedge funds own 20.31% of the company's stock.

Insider Buying and Selling at Main Street Capital

In other news, Director Nicholas Meserve sold 14,000 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $67.15, for a total transaction of $940,100.00. Following the completion of the sale, the director owned 82,383 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jason B. Beauvais sold 13,664 shares of the firm's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $59.37, for a total transaction of $811,231.68. Following the completion of the transaction, the executive vice president directly owned 181,526 shares in the company, valued at $10,777,198.62. This represents a 7.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Oppenheimer reaffirmed a "market perform" rating on shares of Main Street Capital in a report on Tuesday, May 13th. Zacks Research raised shares of Main Street Capital from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. B. Riley increased their price target on Main Street Capital from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday, August 18th. Wall Street Zen raised Main Street Capital from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Finally, Royal Bank Of Canada raised their target price on Main Street Capital from $52.00 to $67.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $61.20.

Main Street Capital Price Performance

Shares of Main Street Capital stock traded down $0.06 on Friday, hitting $66.53. The company's stock had a trading volume of 538,351 shares, compared to its average volume of 463,280. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 10.96 and a beta of 0.88. Main Street Capital Corporation has a 1 year low of $47.00 and a 1 year high of $67.77. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. The firm has a fifty day moving average price of $64.31 and a 200-day moving average price of $58.90.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, meeting the consensus estimate of $0.99. The company had revenue of $143.97 million for the quarter, compared to analyst estimates of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. As a group, sell-side analysts anticipate that Main Street Capital Corporation will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, November 7th will be issued a $0.255 dividend. This represents a c) annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Friday, November 7th. Main Street Capital's payout ratio is presently 50.41%.

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.