Main Street Capital Corp. (MAIN) to Issue Special Dividend of $0.28
Main Street Capital Corp. (NYSE:MAIN) announced a special dividend on Wednesday, October 19th. Investors of record on Friday, December 16th will be given a dividend of 0.275 per share on Friday, December 23rd. This represents a dividend yield of 6.57%. The ex-dividend date is Wednesday, December 14th.
Main Street Capital Corp. (NYSE:MAIN) traded up 1.72% during midday trading on Wednesday, hitting $33.78. 189,794 shares of the company traded hands. The firm has a market capitalization of $1.77 billion, a PE ratio of 22.50 and a beta of 0.83. Main Street Capital Corp. has a 12-month low of $24.21 and a 12-month high of $34.75. The stock’s 50-day moving average is $34.23 and its 200-day moving average is $32.96.
Main Street Capital Corp. (NYSE:MAIN) last posted its earnings results on Monday, August 8th. The company reported $0.54 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.54. The company had revenue of $42.90 million for the quarter, compared to analyst estimates of $43.48 million. Main Street Capital Corp. had a net margin of 44.40% and a return on equity of 10.30%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the business posted $0.55 earnings per share. Analysts anticipate that Main Street Capital Corp. will post $2.16 EPS for the current fiscal year.
Several equities research analysts have weighed in on the stock. Royal Bank Of Canada increased their target price on shares of Main Street Capital Corp. from $32.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, August 11th. Robert W. Baird reiterated an “outperform” rating and issued a $37.00 target price (up from $36.00) on shares of Main Street Capital Corp. in a report on Wednesday, August 17th. National Securities reiterated a “neutral” rating and issued a $33.00 target price on shares of Main Street Capital Corp. in a report on Wednesday, August 10th. Wunderlich increased their target price on shares of Main Street Capital Corp. from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th. Finally, Zacks Investment Research upgraded shares of Main Street Capital Corp. from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $35.86.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MAIN. Advisor Group Inc. acquired a new position in Main Street Capital Corp. during the second quarter worth $1,498,000. BlackRock Group LTD increased its position in Main Street Capital Corp. by 14.6% in the second quarter. BlackRock Group LTD now owns 252,769 shares of the company’s stock worth $8,303,000 after buying an additional 32,142 shares during the period. Stratos Wealth Partners LTD. increased its position in Main Street Capital Corp. by 157.0% in the second quarter. Stratos Wealth Partners LTD. now owns 35,404 shares of the company’s stock worth $1,163,000 after buying an additional 21,630 shares during the period. Van ECK Associates Corp increased its position in Main Street Capital Corp. by 13.4% in the second quarter. Van ECK Associates Corp now owns 166,511 shares of the company’s stock worth $5,470,000 after buying an additional 19,643 shares during the period. Finally, Texas Yale Capital Corp. increased its position in Main Street Capital Corp. by 14.6% in the second quarter. Texas Yale Capital Corp. now owns 37,643 shares of the company’s stock worth $1,237,000 after buying an additional 4,800 shares during the period. 26.78% of the stock is owned by institutional investors and hedge funds.
About Main Street Capital Corp.
Main Street Capital Corporation (MSCC) is a principal investment firm. MSCC is primarily focused on providing customized debt and equity financing to lower middle market (LMM) companies and debt capital to middle market (Middle Market) companies. The Company’s portfolio investments are made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in various industry sectors.
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