BCJ Capital Management LLC boosted its position in Main Street Capital Co. (NYSE:MAIN) by 5.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 12,418 shares of the financial services provider’s stock after acquiring an additional 603 shares during the period. BCJ Capital Management LLC’s holdings in Main Street Capital were worth $535,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its holdings in Main Street Capital by 0.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 67,767 shares of the financial services provider’s stock worth $2,921,000 after buying an additional 253 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in Main Street Capital by 2.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,129 shares of the financial services provider’s stock worth $394,000 after purchasing an additional 258 shares in the last quarter. Victory Capital Management Inc. boosted its position in Main Street Capital by 2.3% in the 4th quarter. Victory Capital Management Inc. now owns 11,557 shares of the financial services provider’s stock worth $498,000 after purchasing an additional 263 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of Main Street Capital by 0.7% during the 4th quarter. Baird Financial Group Inc. now owns 37,944 shares of the financial services provider’s stock valued at $1,636,000 after buying an additional 281 shares in the last quarter. Finally, Focused Wealth Management Inc lifted its position in shares of Main Street Capital by 2.3% during the 4th quarter. Focused Wealth Management Inc now owns 15,474 shares of the financial services provider’s stock valued at $667,000 after buying an additional 354 shares in the last quarter. Institutional investors and hedge funds own 21.91% of the company’s stock.
A number of brokerages have weighed in on MAIN. National Securities upgraded Main Street Capital from a “neutral” rating to a “buy” rating in a report on Tuesday, March 17th. ValuEngine raised Main Street Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Zacks Investment Research raised Main Street Capital from a “sell” rating to a “hold” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $43.50.
In related news, CEO Dwayne L. Hyzak bought 1,700 shares of the stock in a transaction dated Wednesday, March 18th. The stock was acquired at an average price of $15.13 per share, for a total transaction of $25,721.00. Following the completion of the purchase, the chief executive officer now owns 364,741 shares in the company, valued at $5,518,531.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jesse E. Morris purchased 1,300 shares of Main Street Capital stock in a transaction that occurred on Wednesday, March 4th. The stock was acquired at an average cost of $38.39 per share, with a total value of $49,907.00. Following the acquisition, the chief operating officer now directly owns 39,669 shares of the company’s stock, valued at approximately $1,522,892.91. The disclosure for this purchase can be found here. Insiders purchased 9,850 shares of company stock valued at $192,753 over the last quarter. Insiders own 5.43% of the company’s stock.
MAIN opened at $19.64 on Thursday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 7.26 and a beta of 0.85. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $35.95 and its two-hundred day moving average is $41.33. Main Street Capital Co. has a 52 week low of $14.11 and a 52 week high of $45.10.
Main Street Capital (NYSE:MAIN) last posted its earnings results on Thursday, February 27th. The financial services provider reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The company had revenue of $60.50 million for the quarter, compared to the consensus estimate of $59.45 million. Main Street Capital had a return on equity of 10.30% and a net margin of 53.24%. Main Street Capital’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 earnings per share. Equities analysts expect that Main Street Capital Co. will post 2.43 EPS for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, May 20th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $2.46 annualized dividend and a yield of 12.53%. Main Street Capital’s payout ratio is currently 98.40%.
About Main Street Capital
Main Street Capital Corporation is a business development company specializing in long- term equity and debt investments in small and lower middle market companies. The firm focuses on investments in, subordinated loans, private equity, venture debt, mezzanine investments, mature, mid venture, industry consolidation, later stage, late venture, emerging growth, management buyouts, change of control transactions, ownership transitions, recapitalizations, strategic acquisitions, refinancing, business expansion capital, growth financings, family estate planning, and other growth initiatives primarily for later stage businesses.
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