Main Street Capital Co. (MAIN) To Go Ex-Dividend on March 20th

Main Street Capital Co. (NYSE:MAIN) announced a dividend on Tuesday, March 18th, investing.com reports. Stockholders of record on Friday, March 21st will be given a dividend of 0.30 per share by the financial services provider on Thursday, March 27th. This represents a dividend yield of 7.24%. The ex-dividend date is Thursday, March 20th. This is a 20.0% increase from Main Street Capital’s previous dividend of $0.25.

Main Street Capital has raised its dividend payment by an average of 8.6% per year over the last three years. Main Street Capital has a dividend payout ratio of 76.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Main Street Capital to earn $4.06 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 73.9%.

Main Street Capital Price Performance

Shares of Main Street Capital stock opened at $57.13 on Tuesday. The business’s 50-day moving average price is $59.83 and its 200-day moving average price is $55.24. The firm has a market capitalization of $5.06 billion, a PE ratio of 10.35 and a beta of 1.26. Main Street Capital has a 12 month low of $45.00 and a 12 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.

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 for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The business had revenue of $140.44 million during the quarter, compared to the consensus estimate of $141.40 million. Sell-side analysts forecast that Main Street Capital will post 4.11 EPS for the current fiscal year.

Institutional Trading of Main Street Capital

An institutional investor recently bought a new position in Main Street Capital stock. Brighton Jones LLC bought a new position in shares of Main Street Capital Co. (NYSE:MAIN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,185 shares of the financial services provider’s stock, valued at approximately $304,000. Institutional investors own 20.31% of the company’s stock.

Analyst Ratings Changes

Separately, Truist Financial raised their price target on 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 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.