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

Main Street Capital Co. (NYSE:MAIN) declared a dividend on Tuesday, March 18th, investing.com reports. Stockholders 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 dividend 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 increased its dividend 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 tumble. Research 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 Price Performance

Shares of MAIN stock opened at $57.13 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08. The company has a market capitalization of $5.06 billion, a PE ratio of 10.35 and a beta of 1.26. The firm’s 50-day moving average is $59.83 and its two-hundred day moving average is $55.24. Main Street Capital has a 12 month low of $45.00 and a 12 month high of $63.32.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.02 EPS 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 firm had revenue of $140.44 million for the quarter, compared to analysts’ expectations of $141.40 million. Analysts predict that Main Street Capital will post 4.11 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Main Street Capital

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

About Main Street Capital

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.