Price T Rowe Associates Inc. MD Sells 230,558 Shares of Main Street Capital Corporation $MAIN

Key Points

• Price T Rowe Associates Inc. MD has decreased its holdings in Main Street Capital Corporation by 6.7%, owning approximately 3.60% of the company valued at $180 million after selling 230,558 shares.
• Main Street Capital reported earnings of $0.99 EPS, meeting expectations, and had revenue of $143.97 million, exceeding analyst forecasts.
• The company has announced a monthly dividend of $0.255 per share, with a dividend yield of 4.7% and a payout ratio of 50.41%.

Price T Rowe Associates Inc. MD cut its stake in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 6.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,188,686 shares of the financial services provider's stock after selling 230,558 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 3.60% of Main Street Capital worth $180,353,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC acquired a new position in Main Street Capital in the fourth quarter valued at $304,000. First Trust Advisors LP purchased a new stake in shares of Main Street Capital in the fourth quarter worth approximately $6,059,000. Stifel Financial Corp boosted its holdings in Main Street Capital by 3.9% during the 4th quarter. Stifel Financial Corp now owns 11,296 shares of the financial services provider's stock worth $662,000 after acquiring an additional 425 shares during the last quarter. MGO One Seven LLC bought a new stake in Main Street Capital in the 4th quarter worth about $251,000. Finally, Coldstream Capital Management Inc. increased its position in shares of Main Street Capital by 5.0% during the 4th quarter. Coldstream Capital Management Inc. now owns 43,475 shares of the financial services provider's stock valued at $2,547,000 after purchasing an additional 2,087 shares during the last quarter. 20.31% of the stock is currently owned by institutional investors.

Main Street Capital Price Performance

Shares of NYSE MAIN traded up $0.42 during trading hours on Friday, reaching $66.24. 343,918 shares of the stock traded hands, compared to its average volume of 546,192. The company has a market capitalization of $5.92 billion, a P/E ratio of 10.91 and a beta of 0.85. The company's 50-day simple moving average is $63.40 and its two-hundred day simple moving average is $58.75. Main Street Capital Corporation has a 52-week low of $47.00 and a 52-week high of $67.77. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12.

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, meeting analysts' consensus estimates of $0.99. The company had revenue of $143.97 million during the quarter, compared to analyst estimates of $137.23 million. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. Equities research analysts forecast that Main Street Capital Corporation will post 4.11 EPS for the current year.

Main Street Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, November 7th will be issued a $0.255 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. Main Street Capital's dividend payout ratio (DPR) is presently 50.41%.

Insider Activity at Main Street Capital

In other news, EVP Jason B. Beauvais sold 13,664 shares of Main Street Capital stock in a transaction on Friday, June 27th. The shares were sold at an average price of $59.37, for a total transaction of $811,231.68. Following the transaction, the executive vice president owned 181,526 shares in the company, 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 hyperlink. Also, 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 transaction, the director directly owned 82,383 shares in the company, valued at approximately $5,532,018.45. This represents a 14.53% 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 company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. UBS Group reaffirmed a "neutral" rating and set a $58.00 price target (up previously from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Royal Bank Of Canada lifted their target price on Main Street Capital from $52.00 to $67.00 and gave the company an "outperform" rating in a report on Thursday. Truist Financial increased their price target on shares of Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a report on Monday, August 11th. Wall Street Zen raised shares of Main Street Capital from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Finally, Zacks Research upgraded shares of Main Street Capital from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Main Street Capital currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.20.

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.