Burgundy Asset Management Ltd. Purchases 17,196 Shares of Main Street Capital Co. (NYSE:MAIN)

Burgundy Asset Management Ltd. lifted its position in Main Street Capital Co. (NYSE:MAIN - Free Report) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,153,600 shares of the financial services provider's stock after acquiring an additional 17,196 shares during the period. Burgundy Asset Management Ltd. owned approximately 1.31% of Main Street Capital worth $67,578,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Asset Planning Inc acquired a new position in shares of Main Street Capital in the fourth quarter valued at approximately $29,000. Kapitalo Investimentos Ltda acquired a new position in Main Street Capital in the 4th quarter worth $45,000. Colonial Trust Advisors acquired a new position in Main Street Capital in the 4th quarter worth $46,000. Jones Financial Companies Lllp increased its holdings in Main Street Capital by 31.3% during the 4th quarter. Jones Financial Companies Lllp now owns 1,306 shares of the financial services provider's stock worth $77,000 after purchasing an additional 311 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Main Street Capital by 34.2% in the fourth quarter. Signaturefd LLC now owns 1,494 shares of the financial services provider's stock valued at $88,000 after purchasing an additional 381 shares in the last quarter. Institutional investors own 20.31% of the company's stock.

Main Street Capital Stock Performance

MAIN stock traded up $0.80 during midday trading on Tuesday, reaching $56.34. 216,351 shares of the company were exchanged, compared to its average volume of 463,437. Main Street Capital Co. has a one year low of $45.00 and a one year high of $63.32. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of 10.21 and a beta of 0.86. The business has a 50-day moving average price of $54.28 and a two-hundred day moving average price of $56.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.01. The firm had revenue of $137.05 million during the quarter, compared to the consensus estimate of $137.50 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. Equities research analysts forecast that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.255 dividend. This represents a $3.06 dividend on an annualized basis and a dividend yield of 5.43%. This is an increase from Main Street Capital's previous monthly dividend of $0.25. The ex-dividend date of this dividend is Monday, September 8th. Main Street Capital's payout ratio is presently 50.93%.

Insider Activity at Main Street Capital

In related news, CEO Dwayne L. Hyzak sold 120,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the sale, the chief executive officer now owns 402,371 shares in the company, valued at approximately $23,357,636.55. This trade represents a 22.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David L. Magdol sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the transaction, the insider now owns 377,182 shares of the company's stock, valued at approximately $21,895,415.10. This represents a 20.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MAIN. Truist Financial decreased their price objective on Main Street Capital from $62.00 to $54.00 and set a "hold" rating for the company in a report on Monday, May 12th. Oppenheimer reiterated a "market perform" rating on shares of Main Street Capital in a report on Tuesday, May 13th. Finally, UBS Group reduced their target price on shares of Main Street Capital from $55.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $52.80.

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.