Main Street Capital Corporation (NYSE:MAIN) to Issue Dividend of $0.30

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) declared a dividend on Tuesday, June 17th, investing.com reports. Shareholders of record on Monday, June 23rd will be paid a dividend of 0.30 per share by the financial services provider on Friday, June 27th. This represents a yield of 7.26%. The ex-dividend date of this dividend is Friday, June 20th. This is a 20.0% increase from Main Street Capital's previous dividend of $0.25.

Main Street Capital has a payout ratio of 78.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities research 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 Down 0.7%

Shares of MAIN stock traded down $0.41 during trading hours on Friday, hitting $58.10. 585,015 shares of the company were exchanged, compared to its average volume of 471,321. The company has a 50 day simple moving average of $55.14 and a two-hundred day simple moving average of $57.03. The firm has a market cap of $5.17 billion, a P/E ratio of 9.86 and a beta of 0.82. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.10 and a current ratio of 0.10. Main Street Capital has a fifty-two week low of $45.00 and a fifty-two week high of $63.32.

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 for the quarter, beating the consensus estimate of $1.00 by $0.01. The firm had revenue of $137.05 million during the quarter, compared to the consensus estimate of $137.50 million. Main Street Capital had a net margin of 94.61% and a return on equity of 13.02%. Equities analysts anticipate that Main Street Capital will post 4.11 EPS for the current year.

Wall Street Analysts Forecast Growth

MAIN has been the topic of a number of research reports. B. Riley raised Main Street Capital to a "hold" rating in a research note on Monday. Wall Street Zen downgraded Main Street Capital from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. UBS Group cut their target price on Main Street Capital from $55.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Truist Financial reduced 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, Oppenheimer restated a "market perform" rating on shares of Main Street Capital in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $52.80.

Insiders Place Their Bets

In other 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 value of $6,966,000.00. Following the completion of the sale, the chief executive officer now owns 402,371 shares in the company, valued at $23,357,636.55. This represents a 22.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David L. Magdol sold 100,000 shares of the firm's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the transaction, the insider now directly owns 377,182 shares in the company, valued at $21,895,415.10. The trade was 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 bought a new position in Main Street Capital Corporation (NYSE:MAIN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,185 shares of the financial services provider's stock, valued at approximately $304,000. 20.31% of the stock is owned by hedge funds and other institutional investors.

Main Street Capital Company 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.