Sumitomo Mitsui Trust Group Inc. grew its position in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 10.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 242,857 shares of the financial services provider's stock after buying an additional 22,340 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.27% of Main Street Capital worth $13,736,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Spire Wealth Management acquired a new position in shares of Main Street Capital during the 1st quarter worth about $40,000. Kapitalo Investimentos Ltda bought a new position in Main Street Capital during the 4th quarter worth $45,000. Colonial Trust Advisors bought a new position in Main Street Capital in the 4th quarter valued at about $46,000. NBC Securities Inc. bought a new position in Main Street Capital in the first quarter valued at approximately $54,000. Finally, GAMMA Investing LLC grew its position in Main Street Capital by 5,557.9% during the 1st quarter. GAMMA Investing LLC now owns 1,075 shares of the financial services provider's stock worth $61,000 after acquiring an additional 1,056 shares during the last quarter. 20.31% of the stock is owned by institutional investors.
Main Street Capital Stock Down 0.3%
Shares of Main Street Capital stock traded down $0.16 on Monday, reaching $60.97. 808,169 shares of the company were exchanged, compared to its average volume of 476,725. Main Street Capital Corporation has a 1-year low of $45.00 and a 1-year high of $63.32. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.10 and a quick ratio of 0.10. The company has a market cap of $5.43 billion, a P/E ratio of 10.35 and a beta of 0.82. The stock's 50 day moving average price is $56.61 and its 200-day moving average price is $57.39.
Main Street Capital (NYSE:MAIN - Get Free Report) last posted its quarterly earnings results 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. Main Street Capital had a net margin of 94.61% and a return on equity of 13.02%. The firm had revenue of $137.05 million during the quarter, compared to analysts' expectations of $137.50 million. As a group, equities analysts forecast that Main Street Capital Corporation will post 4.11 EPS for the current year.
Main Street Capital Cuts Dividend
The company also recently disclosed a dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 9th will be paid a dividend of $0.255 per share. The ex-dividend date is Tuesday, July 8th. This represents a dividend yield of 5.18%. Main Street Capital's dividend payout ratio is currently 50.93%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on MAIN shares. Wall Street Zen upgraded Main Street Capital from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Oppenheimer reaffirmed a "market perform" rating on shares of Main Street Capital in a report on Tuesday, May 13th. B. Riley upgraded Main Street Capital to a "hold" rating in a research report on Monday, June 16th. Truist Financial lowered their price target on shares of Main Street Capital from $62.00 to $54.00 and set a "hold" rating for the company in a research report on Monday, May 12th. 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. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $52.80.
Check Out Our Latest Report on MAIN
Insiders Place Their Bets
In related news, EVP Jason B. Beauvais sold 13,664 shares of the business's stock in a transaction dated 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. The trade was a 7.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.09% of the stock is currently owned by insiders.
About Main Street Capital
(
Free Report)
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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