Main Street Capital Co. (NYSE:MAIN) Stock Holdings Lowered by Cerity Partners LLC

Cerity Partners LLC trimmed its holdings in shares of Main Street Capital Co. (NYSE:MAIN) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,284 shares of the financial services provider’s stock after selling 278 shares during the period. Cerity Partners LLC owned about 0.07% of Main Street Capital worth $3,414,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MAIN. Asset Planning Inc bought a new stake in shares of Main Street Capital during the 4th quarter worth $29,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Main Street Capital in the 3rd quarter valued at $50,000. AdvisorNet Financial Inc increased its stake in Main Street Capital by 145.8% in the 4th quarter. AdvisorNet Financial Inc now owns 1,229 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 729 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Main Street Capital by 31.3% during the 4th quarter. Jones Financial Companies Lllp now owns 1,306 shares of the financial services provider’s stock worth $77,000 after buying an additional 311 shares during the period. Finally, Signaturefd LLC lifted its stake in Main Street Capital by 34.2% during the fourth quarter. Signaturefd LLC now owns 1,494 shares of the financial services provider’s stock valued at $88,000 after buying an additional 381 shares in the last quarter. Institutional investors and hedge funds own 20.31% of the company’s stock.

Main Street Capital Stock Up 0.6 %

Shares of Main Street Capital stock opened at $51.77 on Monday. Main Street Capital Co. has a 1 year low of $45.00 and a 1 year high of $63.32. The company has a market cap of $4.58 billion, a P/E ratio of 9.38 and a beta of 0.98. 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 stock has a 50-day moving average price of $57.74 and a 200 day moving average price of $56.01.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share (EPS) 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 company had revenue of $140.44 million during the quarter, compared to analysts’ expectations of $141.40 million. As a group, analysts expect that Main Street Capital Co. will post 4.11 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, March 27th. Stockholders of record on Friday, March 21st were issued a dividend of $0.30 per share. This is a boost from Main Street Capital’s previous dividend of $0.25. This represents a dividend yield of 7.11%. The ex-dividend date of this dividend was Thursday, March 20th. Main Street Capital’s payout ratio is currently 51.37%.

Insider Transactions at Main Street Capital

In related news, CEO Dwayne L. Hyzak sold 120,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $6,966,000.00. Following the transaction, the chief executive officer now owns 402,371 shares in the company, valued at approximately $23,357,636.55. This represents a 22.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David L. Magdol sold 100,000 shares of Main Street Capital stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the completion of the sale, the insider now owns 377,182 shares of the company’s stock, valued at $21,895,415.10. This trade represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.