5,000 Shares in Main Street Capital Corporation (NYSE:MAIN) Purchased by Linscomb Wealth Inc.

Key Points

• Linscomb Wealth Inc. acquired 5,000 shares of Main Street Capital Corporation, valued at approximately $283,000.
• Several analysts have rated Main Street Capital with an average rating of "Hold" and a consensus price target of $55.60.
• Main Street Capital's upcoming dividend of $0.255 per share is scheduled to be paid on December 15th, with a 4.6% dividend yield.

Linscomb Wealth Inc. purchased a new stake in Main Street Capital Corporation (NYSE:MAIN - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 5,000 shares of the financial services provider's stock, valued at approximately $283,000.

A number of other institutional investors have also modified their holdings of the company. Invesco Ltd. increased its holdings in shares of Main Street Capital by 282.5% during the first quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider's stock valued at $30,105,000 after acquiring an additional 393,101 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Main Street Capital in the 1st quarter worth approximately $6,205,000. First Trust Advisors LP acquired a new position in Main Street Capital in the 4th quarter worth approximately $6,059,000. Jefferies Financial Group Inc. acquired a new position in Main Street Capital in the 4th quarter worth approximately $3,993,000. Finally, Segment Wealth Management LLC increased its holdings in Main Street Capital by 134.3% in the 1st quarter. Segment Wealth Management LLC now owns 117,994 shares of the financial services provider's stock worth $6,674,000 after buying an additional 67,626 shares during the period. 20.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $67.15, for a total value of $940,100.00. Following the completion of the sale, the director directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jason B. Beauvais sold 13,664 shares of the firm's stock in a transaction on Friday, June 27th. The stock was 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 of the company's stock, valued at $10,777,198.62. This trade represents a 7.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group reiterated a "neutral" rating and issued a $58.00 price target (up previously from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. Wall Street Zen upgraded Main Street Capital from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Truist Financial upped their price objective on Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. B. Riley upgraded Main Street Capital to a "hold" rating in a research report on Monday, June 16th. Finally, Oppenheimer restated a "market perform" rating on shares of Main Street Capital in a research report on Tuesday, May 13th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $56.50.

Main Street Capital Price Performance

Shares of NYSE:MAIN traded down $0.97 during midday trading on Friday, reaching $66.18. 390,063 shares of the company's stock traded hands, compared to its average volume of 504,203. Main Street Capital Corporation has a 1 year low of $47.00 and a 1 year high of $67.77. The company has a market cap of $5.92 billion, a P/E ratio of 10.90 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.10 and a current ratio of 0.09. The company has a fifty day simple moving average of $62.12 and a two-hundred day simple moving average of $58.51.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, meeting 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 firm had revenue of $143.97 million for the quarter, compared to analyst estimates of $137.23 million. Equities 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 monthly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a $0.255 dividend. The ex-dividend date is Monday, December 8th. This represents a c) dividend on an annualized basis and a yield of 4.6%. Main Street Capital's dividend payout ratio (DPR) 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.