Main Street Capital (NYSE:MAIN) Sets New 52-Week High – Still a Buy?

Main Street Capital Co. (NYSE:MAIN) hit a new 52-week high during trading on Thursday . The company traded as high as $60.20 and last traded at $60.05, with a volume of 265369 shares trading hands. The stock had previously closed at $59.24.

Wall Street Analyst Weigh In

Separately, B. Riley raised their price target on Main Street Capital from $49.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $48.80.

Main Street Capital Price Performance

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 business’s 50 day moving average price is $56.03 and its 200 day moving average price is $52.35. The stock has a market capitalization of $5.29 billion, a P/E ratio of 10.88 and a beta of 1.28.

Main Street Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, February 7th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.60 annualized dividend and a dividend yield of 6.00%. Main Street Capital’s payout ratio is 54.35%.

Institutional Investors Weigh In On Main Street Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its holdings in shares of Main Street Capital by 3.9% in the third quarter. Van ECK Associates Corp now owns 1,195,476 shares of the financial services provider’s stock valued at $61,758,000 after acquiring an additional 45,381 shares in the last quarter. Adell Harriman & Carpenter Inc. lifted its position in shares of Main Street Capital by 3.5% in the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 419,255 shares of the financial services provider’s stock worth $21,021,000 after purchasing an additional 14,045 shares during the period. Paradiem LLC boosted its stake in shares of Main Street Capital by 0.3% during the fourth quarter. Paradiem LLC now owns 280,593 shares of the financial services provider’s stock valued at $16,437,000 after purchasing an additional 732 shares in the last quarter. Franklin Resources Inc. increased its holdings in Main Street Capital by 19.3% during the third quarter. Franklin Resources Inc. now owns 217,461 shares of the financial services provider’s stock valued at $11,119,000 after buying an additional 35,227 shares during the period. Finally, Muzinich & Co. Inc. lifted its holdings in Main Street Capital by 9.3% during the third quarter. Muzinich & Co. Inc. now owns 212,384 shares of the financial services provider’s stock worth $10,649,000 after buying an additional 18,059 shares during the period. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

Main Street Capital Company 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.