Van ECK Associates Corp Raises Stock Holdings in Main Street Capital Corporation $MAIN

Van ECK Associates Corp raised its position in shares of Main Street Capital Corporation (NYSE:MAIN) by 100.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,448,201 shares of the financial services provider’s stock after buying an additional 1,229,863 shares during the quarter. Van ECK Associates Corp’s holdings in Main Street Capital were worth $155,681,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MAIN. Quest 10 Wealth Builders Inc. bought a new position in shares of Main Street Capital in the 3rd quarter worth about $25,000. City Holding Co. purchased a new stake in Main Street Capital in the third quarter worth about $26,000. Smartleaf Asset Management LLC increased its stake in shares of Main Street Capital by 109.6% during the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 250 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Main Street Capital by 203.0% during the third quarter. Assetmark Inc. now owns 506 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 339 shares during the last quarter. Finally, Archer Investment Corp boosted its position in shares of Main Street Capital by 134.5% in the 3rd quarter. Archer Investment Corp now owns 544 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 312 shares in the last quarter. 20.31% of the stock is owned by hedge funds and other institutional investors.

Main Street Capital Stock Performance

Shares of Main Street Capital stock opened at $56.88 on Wednesday. The company has a market capitalization of $5.13 billion, a PE ratio of 10.30 and a beta of 0.80. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.12. Main Street Capital Corporation has a 52 week low of $47.00 and a 52 week high of $67.77. The stock’s fifty day moving average is $60.84 and its two-hundred day moving average is $60.83.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, February 26th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $156.17 million for the quarter, compared to the consensus estimate of $141.50 million. Main Street Capital had a return on equity of 12.44% and a net margin of 87.11%. As a group, analysts expect that Main Street Capital Corporation will post 4.11 earnings per share for the current year.

Main Street Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 8th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, April 8th. Main Street Capital’s payout ratio is presently 56.52%.

Analyst Ratings Changes

A number of research firms recently weighed in on MAIN. Wall Street Zen raised Main Street Capital from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Citizens Jmp set a $70.00 price target on shares of Main Street Capital in a research note on Monday, December 8th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Main Street Capital in a research report on Monday, December 22nd. Noble Financial restated a “neutral” rating on shares of Main Street Capital in a research note on Thursday, January 15th. Finally, Loop Capital upgraded shares of Main Street Capital to a “neutral” rating and set a $65.00 price target for the company in a research report on Thursday, January 15th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Main Street Capital currently has an average rating of “Hold” and a consensus price target of $61.71.

Main Street Capital Profile

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.