Main Street Capital Corporation (NYSE:MAIN - Get Free Report) announced a quarterly dividend on Monday, August 4th, investing.com reports. Investors of record on Wednesday, October 8th will be paid a dividend of 0.30 per share by the financial services provider on Wednesday, October 15th. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, October 8th.
Main Street Capital has a dividend 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 decline. Equities 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 2.3%
Shares of NYSE:MAIN traded down $1.52 during midday trading on Monday, reaching $64.26. The company had a trading volume of 757,604 shares, compared to its average volume of 563,715. The company has a fifty day simple moving average of $65.36 and a two-hundred day simple moving average of $59.39. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 10.59 and a beta of 0.88. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. Main Street Capital has a 1-year low of $47.00 and a 1-year high of $67.77.
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 earnings per share for the quarter, meeting the consensus estimate of $0.99. The firm had revenue of $143.97 million for the quarter, compared to analyst estimates of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. Research analysts predict that Main Street Capital will post 4.11 earnings per share for the current year.
Insider Activity at Main Street Capital
In other Main Street Capital news, EVP Jason B. Beauvais sold 13,664 shares of the business's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $59.37, for a total value of $811,231.68. Following the completion of the transaction, the executive vice president directly owned 181,526 shares of the company's stock, valued at approximately $10,777,198.62. The trade was a 7.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Nicholas Meserve sold 14,000 shares of the business'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 sale, the director owned 82,383 shares of the company's stock, valued at approximately $5,532,018.45. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. 4.09% of the stock is owned by insiders.
Hedge Funds Weigh In On Main Street Capital
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its position in shares of Main Street Capital by 0.4% in the second quarter. Osaic Holdings Inc. now owns 156,952 shares of the financial services provider's stock worth $9,277,000 after purchasing an additional 640 shares in the last quarter. Squarepoint Ops LLC increased its stake in Main Street Capital by 35.5% in the 2nd quarter. Squarepoint Ops LLC now owns 26,074 shares of the financial services provider's stock valued at $1,541,000 after buying an additional 6,828 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Main Street Capital during the 2nd quarter worth about $1,685,000. Newbridge Financial Services Group Inc. boosted its stake in shares of Main Street Capital by 30.3% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,318 shares of the financial services provider's stock worth $196,000 after buying an additional 771 shares during the last quarter. Finally, State of Wyoming grew its holdings in shares of Main Street Capital by 47.0% in the 2nd quarter. State of Wyoming now owns 4,026 shares of the financial services provider's stock valued at $238,000 after acquiring an additional 1,287 shares in the last quarter. 20.31% of the stock is owned by institutional investors and hedge funds.
About Main Street Capital
(
Get 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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