Colonial Trust Advisors Takes Position in Main Street Capital Co. (NYSE:MAIN)

Colonial Trust Advisors acquired a new position 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 institutional investor acquired 792 shares of the financial services provider’s stock, valued at approximately $46,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. The Manufacturers Life Insurance Company bought a new stake in Main Street Capital during the third quarter valued at about $1,029,000. Stifel Financial Corp lifted its position in shares of Main Street Capital by 6.2% during the 3rd quarter. Stifel Financial Corp now owns 10,871 shares of the financial services provider’s stock valued at $545,000 after buying an additional 636 shares in the last quarter. MML Investors Services LLC grew its stake in shares of Main Street Capital by 1.9% during the 3rd quarter. MML Investors Services LLC now owns 16,743 shares of the financial services provider’s stock valued at $840,000 after acquiring an additional 306 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in Main Street Capital by 149.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,508 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 1,501 shares in the last quarter. Finally, Barclays PLC raised its stake in Main Street Capital by 75.6% during the 3rd quarter. Barclays PLC now owns 72,265 shares of the financial services provider’s stock worth $3,624,000 after acquiring an additional 31,110 shares during the period. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Main Street Capital Stock Performance

NYSE:MAIN opened at $51.46 on Friday. The stock has a 50-day moving average price of $57.94 and a 200 day moving average price of $55.95. 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 12-month low of $45.00 and a 12-month high of $63.32. The stock has a market capitalization of $4.56 billion, a P/E ratio of 9.32 and a beta of 0.98.

Main Street Capital (NYSE:MAIN) 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). Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The company had revenue of $140.44 million for the quarter, compared to analysts’ expectations of $141.40 million. Equities research analysts forecast that Main Street Capital Co. will post 4.11 EPS for the current fiscal 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 was Thursday, March 20th. Main Street Capital’s payout ratio is currently 51.37%.

Insiders Place Their Bets

In related 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 value of $6,966,000.00. Following the sale, the chief executive officer now owns 402,371 shares in the company, valued at approximately $23,357,636.55. The trade was a 22.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David L. Magdol sold 100,000 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the transaction, the insider now owns 377,182 shares of the company’s stock, valued at $21,895,415.10. This trade represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Analyst Ratings Changes

Separately, Truist Financial upped their price target on shares of 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 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.