Main Street Capital Co. (NYSE:MAIN) Announces Dividend Increase - $0.26 Per Share

Main Street Capital Co. (NYSE:MAIN - Get Free Report) announced a monthly dividend on Thursday, May 8th, Wall Street Journal reports. Investors of record on Monday, September 8th will be paid a dividend of 0.255 per share by the financial services provider on Monday, September 15th. This represents a $3.06 annualized dividend and a dividend yield of 5.64%. The ex-dividend date is Monday, September 8th. This is a 2.0% increase from Main Street Capital's previous monthly dividend of $0.25.

Main Street Capital has raised its dividend payment by an average of 8.6% per year over the last three years and has raised its dividend every year for the last 4 years. Main Street Capital has a dividend payout ratio of 75.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Analysts expect Main Street Capital to earn $4.06 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 73.9%.

Main Street Capital Trading Up 0.7%

Main Street Capital stock traded up $0.38 during mid-day trading on Tuesday, hitting $54.27. The stock had a trading volume of 438,503 shares, compared to its average volume of 451,823. The stock has a 50-day simple moving average of $54.64 and a two-hundred day simple moving average of $56.33. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $4.81 billion, a PE ratio of 9.83 and a beta of 0.86. Main Street Capital has a 12 month low of $45.00 and a 12 month high of $63.32.

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

Analysts Set New Price Targets

MAIN has been the subject of a number of research analyst reports. Oppenheimer lowered their price target on Main Street Capital from $58.00 to $53.00 and set a "market perform" rating for the company in a report on Tuesday. Truist Financial lowered their price target on shares of Main Street Capital from $62.00 to $54.00 and set a "hold" rating on the stock in a report on Monday. Finally, UBS Group lowered their target price on shares of Main Street Capital from $55.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $52.80.

Insider Activity

In other Main Street Capital news, CEO Dwayne L. Hyzak sold 120,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 402,371 shares of the company's stock, valued at $23,357,636.55. This represents a 22.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David L. Magdol sold 100,000 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the completion of the sale, the insider now directly owns 377,182 shares in the company, valued at $21,895,415.10. This trade represents a 20.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company's stock.

Institutional Investors Weigh In On Main Street Capital

An institutional investor recently bought a new position in Main Street Capital stock. Brighton Jones LLC acquired a new stake in Main Street Capital Co. (NYSE:MAIN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,185 shares of the financial services provider's stock, valued at approximately $304,000. Institutional investors own 20.31% of the company's stock.

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.