Wells Fargo & Company MN Decreases Stock Holdings in Main Street Capital Co. (NYSE:MAIN)

Wells Fargo & Company MN reduced its stake in shares of Main Street Capital Co. (NYSE:MAIN - Free Report) by 14.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 117,945 shares of the financial services provider's stock after selling 19,457 shares during the period. Wells Fargo & Company MN owned approximately 0.13% of Main Street Capital worth $6,909,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Asset Planning Inc bought a new stake in Main Street Capital during the 4th quarter valued at $29,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Main Street Capital in the third quarter valued at about $50,000. AdvisorNet Financial Inc boosted its holdings in shares of Main Street Capital by 145.8% during the fourth quarter. AdvisorNet Financial Inc now owns 1,229 shares of the financial services provider's stock worth $72,000 after purchasing an additional 729 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Main Street Capital by 31.3% in the fourth quarter. Jones Financial Companies Lllp now owns 1,306 shares of the financial services provider's stock worth $77,000 after purchasing an additional 311 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in Main Street Capital by 34.2% during the 4th quarter. Signaturefd LLC now owns 1,494 shares of the financial services provider's stock valued at $88,000 after purchasing an additional 381 shares during the period. Institutional investors own 20.31% of the company's stock.

Main Street Capital Stock Performance

MAIN stock traded up $0.69 during midday trading on Thursday, reaching $54.34. 99,797 shares of the company's stock traded hands, compared to its average volume of 440,063. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. Main Street Capital Co. has a 52-week low of $45.00 and a 52-week high of $63.32. The stock has a market cap of $4.81 billion, a P/E ratio of 9.84 and a beta of 0.98. The stock's 50-day moving average is $56.49 and its 200 day moving average is $56.08.

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

Main Street Capital Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, March 27th. Shareholders of record on Friday, March 21st were issued a $0.30 dividend. This is an increase from Main Street Capital's previous dividend of $0.25. This represents a yield of 7.11%. The ex-dividend date of this dividend was Thursday, March 20th. Main Street Capital's payout ratio is currently 51.37%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. UBS Group decreased their price objective on shares of Main Street Capital from $55.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Truist Financial raised their price objective on shares of Main Street Capital from $52.00 to $62.00 and gave the stock a "hold" rating in a report on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Main Street Capital currently has a consensus rating of "Hold" and a consensus 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 transaction, 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 legal filing with the SEC, which is available at this link. Also, insider David L. Magdol sold 100,000 shares of the firm's 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 of the company's stock, valued at approximately $21,895,415.10. The trade was a 20.96 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.00% of the company's stock.

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.