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

A number of other institutional investors also recently modified their holdings of the company. Royal Bank of Canada raised its position in shares of Main Street Capital by 3.6% during the first quarter. Royal Bank of Canada now owns 184,727 shares of the financial services provider's stock worth $10,448,000 after purchasing an additional 6,341 shares during the period. Quarry LP acquired a new position in shares of Main Street Capital during the first quarter worth approximately $48,000. Magnetar Financial LLC acquired a new position in shares of Main Street Capital during the first quarter worth approximately $301,000. State of Wyoming acquired a new position in shares of Main Street Capital during the first quarter worth approximately $155,000. Finally, Wealth Preservation Advisors LLC acquired a new position in shares of Main Street Capital during the first quarter worth approximately $58,000. 20.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was 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 of the company's stock, valued at $5,532,018.45. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 value of $811,231.68. Following the completion of the sale, the executive vice president directly owned 181,526 shares in the company, valued at approximately $10,777,198.62. The trade was a 7.00% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Oppenheimer reaffirmed a "market perform" rating on shares of Main Street Capital in a research report on Tuesday, May 13th. Zacks Research upgraded Main Street Capital from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. Royal Bank Of Canada upped their price target on Main Street Capital from $52.00 to $67.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Truist Financial upped their price target on Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a report on Monday, August 11th. Finally, Wall Street Zen upgraded Main Street Capital from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $61.20.

Main Street Capital Stock Performance

Shares of MAIN stock traded up $0.29 on Wednesday, hitting $66.24. 116,699 shares of the stock were exchanged, compared to its average volume of 541,207. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $5.92 billion, a PE ratio of 10.91 and a beta of 0.88. Main Street Capital Corporation has a one year low of $47.00 and a one year high of $67.77. The firm's 50 day moving average is $64.58 and its two-hundred day moving average is $58.97.

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 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.99. The business had revenue of $143.97 million for the quarter, compared to analysts' expectations of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. Sell-side analysts expect that Main Street Capital Corporation will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

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

Main Street Capital 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.