Sumitomo Mitsui Trust Group Inc. Increases Stock Position in Main Street Capital Corporation (NYSE:MAIN)

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 10.1% in the first quarter, according to its most recent filing with the Securities & 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 & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MAIN. Brighton Jones LLC bought a new stake in Main Street Capital during the 4th quarter valued at $304,000. Bank of New York Mellon Corp raised its holdings in Main Street Capital by 56.8% during the 4th quarter. Bank of New York Mellon Corp now owns 29,316 shares of the financial services provider's stock valued at $1,717,000 after buying an additional 10,625 shares during the last quarter. US Bancorp DE raised its holdings in Main Street Capital by 8.4% in the 4th quarter. US Bancorp DE now owns 2,579 shares of the financial services provider's stock worth $151,000 after purchasing an additional 200 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Main Street Capital by 31.3% in 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, Steward Partners Investment Advisory LLC raised its holdings in Main Street Capital by 13.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 27,088 shares of the financial services provider's stock worth $1,587,000 after purchasing an additional 3,282 shares in the last quarter. 20.31% of the stock is currently owned by institutional investors.

Main Street Capital Stock Up 1.4%

MAIN stock traded up $0.84 during trading on Friday, hitting $61.00. 383,183 shares of the stock traded hands, compared to its average volume of 475,401. Main Street Capital Corporation has a 1 year low of $45.00 and a 1 year high of $63.32. The firm's 50 day moving average is $56.48 and its two-hundred day moving average is $57.33. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 10.36 and a beta of 0.82. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.10 and a quick ratio of 0.10.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.01 EPS for the quarter, beating 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 company had revenue of $137.05 million for the quarter, compared to the consensus estimate of $137.50 million. On average, sell-side analysts anticipate 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. Investors of record on Wednesday, July 9th will be given a dividend of $0.255 per share. This represents a yield of 5.18%. The ex-dividend date of this dividend is Tuesday, July 8th. Main Street Capital's dividend payout ratio (DPR) is 50.93%.

Analyst Ratings Changes

Several research analysts have commented on MAIN shares. Wall Street Zen upgraded shares of Main Street Capital from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Truist Financial decreased their price objective on shares of 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 restated a "market perform" rating on shares of Main Street Capital in a report on Tuesday, May 13th. B. Riley upgraded shares of Main Street Capital to a "hold" rating in a research note on Monday, June 16th. Finally, UBS Group decreased their price target on shares of Main Street Capital from $55.00 to $54.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $52.80.

Insider Activity

In other news, 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 transaction of $811,231.68. Following the sale, the executive vice president owned 181,526 shares of the company's stock, valued at $10,777,198.62. This trade represents a 7.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.00% of the stock is currently owned by insiders.

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.