Main Street Capital Co. (NYSE:MAIN) to Issue Dividend of $0.18

Main Street Capital Co. (NYSE:MAIN – Get Rating) declared a dividend on Tuesday, February 21st, NASDAQ reports. Shareholders of record on Tuesday, March 21st will be paid a dividend of 0.175 per share by the financial services provider on Tuesday, March 28th. The ex-dividend date is Monday, March 20th. This is an increase from Main Street Capital’s previous dividend of $0.08.

Main Street Capital has raised its dividend payment by an average of 2.4% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Main Street Capital has a dividend payout ratio of 71.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Main Street Capital to earn $3.82 per share next year, which means the company should continue to be able to cover its $2.70 annual dividend with an expected future payout ratio of 70.7%.

Main Street Capital Stock Down 1.1 %

Shares of NYSE:MAIN opened at $38.48 on Friday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.16. Main Street Capital has a 12-month low of $31.66 and a 12-month high of $45.67. The company has a fifty day simple moving average of $39.67 and a 200 day simple moving average of $38.00. The firm has a market cap of $3.06 billion, a PE ratio of 11.95 and a beta of 1.31.

Analysts Set New Price Targets

Several research firms recently weighed in on MAIN. B. Riley upped their price objective on shares of Main Street Capital from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, February 27th. StockNews.com began coverage on shares of Main Street Capital in a report on Thursday. They issued a “hold” rating for the company. TheStreet raised shares of Main Street Capital from a “c+” rating to a “b-” rating in a report on Monday, February 6th. UBS Group started coverage on shares of Main Street Capital in a report on Monday, December 19th. They issued a “neutral” rating and a $40.00 price objective for the company. Finally, Oppenheimer boosted their price target on shares of Main Street Capital from $39.00 to $41.00 and gave the stock a “market perform” rating in a research report on Monday, February 27th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $42.50.

Hedge Funds Weigh In On Main Street Capital

A number of large investors have recently made changes to their positions in MAIN. Price T Rowe Associates Inc. MD grew its stake in shares of Main Street Capital by 250.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,501,374 shares of the financial services provider’s stock valued at $96,378,000 after buying an additional 1,788,197 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Main Street Capital in the 4th quarter valued at approximately $6,674,000. Two Sigma Investments LP bought a new stake in shares of Main Street Capital in the 3rd quarter valued at approximately $5,518,000. Atria Wealth Solutions Inc. bought a new stake in shares of Main Street Capital in the 1st quarter valued at approximately $3,102,000. Finally, Legal & General Group Plc grew its stake in shares of Main Street Capital by 11.2% in the 2nd quarter. Legal & General Group Plc now owns 426,724 shares of the financial services provider’s stock valued at $16,465,000 after buying an additional 43,111 shares in the last quarter. Institutional investors and hedge funds own 18.79% of the company’s stock.

About Main Street Capital

(Get Rating)

Main Street Capital is a principal investment firm that provides long-term debt and equity capital to lower middle market companies. Main Street’s investments are primarily made to support management buyouts, recapitalizations, growth financings and acquisitions of companies that operate in diverse industry sectors and generally have annual revenues ranging from $10 million to $100 million.