Blue Trust Inc. Purchases 8,226 Shares of Main Street Capital Corporation $MAIN

Key Points

• Blue Trust Inc. has increased its stake in Main Street Capital Corporation by 94.2% in the second quarter, owning a total of 16,959 shares valued at approximately $1,002,000.
• Main Street Capital's recent quarterly earnings showed an EPS of $0.99, matching analysts' expectations, with revenue reaching $143.97 million.
• The company announced a quarterly dividend of $0.30 per share, with an upcoming pay date on October 15th, representing a 2.2% dividend yield.

Blue Trust Inc. raised its position in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 94.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,959 shares of the financial services provider's stock after purchasing an additional 8,226 shares during the quarter. Blue Trust Inc.'s holdings in Main Street Capital were worth $1,002,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Main Street Capital during the 2nd quarter valued at about $1,182,000. Tectonic Advisors LLC grew its stake in shares of Main Street Capital by 11.2% during the 2nd quarter. Tectonic Advisors LLC now owns 215,481 shares of the financial services provider's stock valued at $12,735,000 after purchasing an additional 21,750 shares during the period. Castle Rock Wealth Management LLC grew its stake in shares of Main Street Capital by 5.1% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 8,943 shares of the financial services provider's stock valued at $579,000 after purchasing an additional 430 shares during the period. Global Assets Advisory LLC bought a new stake in shares of Main Street Capital during the 2nd quarter valued at about $225,000. Finally, Segment Wealth Management LLC grew its stake in shares of Main Street Capital by 1.2% during the 2nd quarter. Segment Wealth Management LLC now owns 119,468 shares of the financial services provider's stock valued at $7,061,000 after purchasing an additional 1,474 shares during the period. 20.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MAIN shares. Wall Street Zen upgraded Main Street Capital from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. UBS Group reiterated a "neutral" rating and set a $58.00 price objective (up from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. Truist Financial boosted their price objective on Main Street Capital from $54.00 to $64.00 and gave the company a "hold" rating in a research note on Monday, August 11th. Zacks Research upgraded Main Street Capital from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 20th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Main Street Capital in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $61.20.

Insider Activity

In other news, Director Nicholas Meserve sold 14,000 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $67.15, for a total transaction of $940,100.00. Following the sale, the director directly owned 82,383 shares of the company's stock, valued at $5,532,018.45. This represents a 14.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.00% of the stock is owned by company insiders.

Main Street Capital Stock Down 3.4%

NYSE MAIN opened at $55.13 on Friday. The stock's 50 day moving average is $64.62 and its 200 day moving average is $59.84. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. Main Street Capital Corporation has a 12 month low of $47.00 and a 12 month high of $67.77. The stock has a market cap of $4.93 billion, a PE ratio of 9.08 and a beta of 0.87.

Main Street Capital (NYSE:MAIN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, hitting analysts' consensus estimates of $0.99. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%.The company had revenue of $143.97 million for the quarter, compared to analysts' expectations of $137.23 million. Research analysts predict that Main Street Capital Corporation will post 4.11 EPS for the current fiscal year.

Main Street Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 8th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, October 8th. Main Street Capital's dividend payout ratio is 50.41%.

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.

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