Main Street Capital Co. (MAIN) To Go Ex-Dividend on March 20th

Main Street Capital Co. (NYSE:MAIN) announced a dividend on Tuesday, March 18th, investing.com reports. Shareholders of record on Friday, March 21st will be given a dividend of 0.30 per share by the financial services provider on Thursday, March 27th. This represents a yield of 7.24%. The ex-dividend date of this dividend is Thursday, March 20th. This is a 20.0% increase from Main Street Capital’s previous dividend of $0.25.

Main Street Capital has raised its dividend payment by an average of 8.6% annually over the last three years. Main Street Capital has a payout ratio of 76.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Stock Performance

Shares of MAIN stock traded up $0.45 during mid-day trading on Tuesday, reaching $57.62. The stock had a trading volume of 328,478 shares, compared to its average volume of 409,641. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. The firm has a market cap of $5.10 billion, a PE ratio of 10.44 and a beta of 1.26. Main Street Capital has a one year low of $45.00 and a one year high of $63.32. The firm’s 50 day simple moving average is $59.83 and its 200 day simple moving average is $55.24.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). The business had revenue of $140.44 million for the quarter, compared to analyst estimates of $141.40 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. On average, analysts forecast that Main Street Capital will post 4.11 EPS for the current year.

Hedge Funds Weigh In On Main Street Capital

An institutional investor recently bought a new position in Main Street Capital stock. Brighton Jones LLC purchased a new stake in Main Street Capital Co. (NYSE:MAIN) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,185 shares of the financial services provider’s stock, valued at approximately $304,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Analyst Ratings Changes

Separately, Truist Financial boosted their price target on Main Street Capital from $52.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 3rd.

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.