HighTower Advisors LLC Increases Stock Holdings in Main Street Capital Co. (NYSE:MAIN)

HighTower Advisors LLC lifted its stake in shares of Main Street Capital Co. (NYSE:MAIN) by 9.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,716 shares of the financial services provider’s stock after purchasing an additional 8,832 shares during the quarter. HighTower Advisors LLC owned about 0.12% of Main Street Capital worth $6,134,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. US Bancorp DE raised its position in Main Street Capital by 8.4% during the 4th quarter. US Bancorp DE now owns 2,579 shares of the financial services provider’s stock worth $151,000 after buying an additional 200 shares during the last quarter. Widmann Financial Services Inc. raised its holdings in Main Street Capital by 0.9% during the third quarter. Widmann Financial Services Inc. now owns 22,990 shares of the financial services provider’s stock worth $1,153,000 after purchasing an additional 202 shares in the last quarter. IHT Wealth Management LLC raised its holdings in Main Street Capital by 0.3% during the third quarter. IHT Wealth Management LLC now owns 63,628 shares of the financial services provider’s stock worth $3,190,000 after purchasing an additional 218 shares in the last quarter. PFG Investments LLC lifted its position in Main Street Capital by 1.6% in the fourth quarter. PFG Investments LLC now owns 13,642 shares of the financial services provider’s stock valued at $799,000 after purchasing an additional 219 shares during the period. Finally, Sunbelt Securities Inc. increased its position in Main Street Capital by 7.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,509 shares of the financial services provider’s stock worth $176,000 after purchasing an additional 229 shares during the period. 20.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Main Street Capital Trading Up 0.8 %

Shares of MAIN opened at $57.62 on Wednesday. Main Street Capital Co. has a twelve month low of $45.00 and a twelve month high of $63.32. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $5.10 billion, a P/E ratio of 10.44 and a beta of 1.26. The firm’s 50-day moving average is $59.81 and its two-hundred day moving average is $55.30.

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 firm had revenue of $140.44 million during the quarter, compared to analyst estimates of $141.40 million. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. On average, research analysts predict that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The company also recently declared a dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, March 21st will be paid a dividend of $0.30 per share. This represents a dividend yield of 7.24%. The ex-dividend date is Thursday, March 20th. This is an increase from Main Street Capital’s previous dividend of $0.25. Main Street Capital’s payout ratio is 51.37%.

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.