Rockefeller Capital Management L.P. Makes New Investment in Main Street Capital Co. (NYSE:MAIN)

Rockefeller Capital Management L.P. purchased a new position in shares of Main Street Capital Co. (NYSE:MAIN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 53,578 shares of the financial services provider's stock, valued at approximately $3,139,000. Rockefeller Capital Management L.P. owned about 0.06% of Main Street Capital as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Van ECK Associates Corp lifted its position in shares of Main Street Capital by 7.8% in the fourth quarter. Van ECK Associates Corp now owns 1,288,309 shares of the financial services provider's stock valued at $75,469,000 after acquiring an additional 92,833 shares in the last quarter. Adell Harriman & Carpenter Inc. raised its position in shares of Main Street Capital by 1.5% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 425,552 shares of the financial services provider's stock worth $24,929,000 after buying an additional 6,297 shares during the period. LPL Financial LLC boosted its holdings in Main Street Capital by 1.6% in the fourth quarter. LPL Financial LLC now owns 299,165 shares of the financial services provider's stock valued at $17,525,000 after acquiring an additional 4,740 shares during the last quarter. Paradiem LLC increased its stake in Main Street Capital by 0.3% during the fourth quarter. Paradiem LLC now owns 280,593 shares of the financial services provider's stock worth $16,437,000 after acquiring an additional 732 shares during the last quarter. Finally, Muzinich & Co. Inc. lifted its stake in shares of Main Street Capital by 5.0% in the 4th quarter. Muzinich & Co. Inc. now owns 222,977 shares of the financial services provider's stock valued at $13,062,000 after purchasing an additional 10,593 shares in the last quarter. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

Main Street Capital Stock Up 1.6 %

Shares of MAIN stock traded up $0.85 on Thursday, hitting $54.50. The stock had a trading volume of 121,264 shares, compared to its average volume of 440,131. The stock's 50 day moving average is $56.49 and its 200-day moving average is $56.08. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 9.87 and a beta of 0.98. Main Street Capital Co. has a 52-week low of $45.00 and a 52-week high of $63.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.08 and a current ratio of 0.08.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.06). Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The business had revenue of $140.44 million for the quarter, compared to analyst estimates of $141.40 million. As a group, research analysts expect that Main Street Capital Co. will post 4.11 earnings per share for the current year.

Main Street Capital Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, March 27th. Stockholders of record on Friday, March 21st were paid a dividend of $0.30 per share. This is a boost from Main Street Capital's previous dividend of $0.25. This represents a dividend yield of 7.11%. The ex-dividend date of this dividend was Thursday, March 20th. Main Street Capital's dividend payout ratio is 51.37%.

Analyst Ratings Changes

A number of research analysts have weighed in on MAIN shares. UBS Group reduced their price target on shares of Main Street Capital from $55.00 to $54.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Truist Financial upped their price target on shares of Main Street Capital from $52.00 to $62.00 and gave the stock a "hold" rating in a research report on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, Main Street Capital presently has an average rating of "Hold" and an average price target of $52.60.

Insider Buying and Selling at Main Street Capital

In other Main Street Capital news, CEO Dwayne L. Hyzak sold 120,000 shares of the business's stock in a transaction on 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 sale, the chief executive officer now owns 402,371 shares in the company, valued at $23,357,636.55. The trade was a 22.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David L. Magdol sold 100,000 shares of Main Street Capital stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $5,805,000.00. Following the completion of the transaction, the insider now owns 377,182 shares of the company's stock, valued at approximately $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. 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.