Main Street Capital Co. (NYSE:MAIN – Get Free Report)’s stock price shot up 0.3% during mid-day trading on Tuesday . The company traded as high as $46.40 and last traded at $46.28. 64,634 shares were traded during mid-day trading, a decline of 82% from the average session volume of 359,719 shares. The stock had previously closed at $46.13.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on MAIN shares. B. Riley lowered Main Street Capital from a “buy” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research note on Monday, January 8th. Truist Financial lifted their price objective on Main Street Capital from $43.00 to $45.00 and gave the stock a “hold” rating in a report on Monday, February 26th. Oppenheimer lifted their target price on Main Street Capital from $41.00 to $43.00 and gave the stock a “market perform” rating in a research report on Monday, February 26th. UBS Group boosted their price objective on Main Street Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Finally, Royal Bank of Canada boosted their price objective on Main Street Capital from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Main Street Capital presently has an average rating of “Hold” and an average target price of $45.50.
Main Street Capital Price Performance
The stock has a fifty day simple moving average of $45.34 and a 200-day simple moving average of $42.64. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 8.87 and a beta of 1.28.
Main Street Capital (NYSE:MAIN – Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. Main Street Capital had a return on equity of 14.99% and a net margin of 85.62%. The firm had revenue of $129.31 million during the quarter, compared to analysts’ expectations of $125.52 million. As a group, equities research analysts expect that Main Street Capital Co. will post 4.07 EPS for the current year.
Main Street Capital Increases Dividend
The business also recently disclosed a dividend, which will be paid on Wednesday, March 27th. Investors of record on Wednesday, March 20th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, March 19th. This is a boost from Main Street Capital’s previous dividend of $0.24. This represents a dividend yield of 8.37%. Main Street Capital’s payout ratio is 55.17%.
Institutional Investors Weigh In On Main Street Capital
A number of institutional investors have recently made changes to their positions in MAIN. PNC Financial Services Group Inc. lifted its holdings in shares of Main Street Capital by 11.9% in the first quarter. PNC Financial Services Group Inc. now owns 8,504 shares of the financial services provider’s stock valued at $363,000 after purchasing an additional 904 shares in the last quarter. Merit Financial Group LLC acquired a new stake in Main Street Capital during the 1st quarter worth about $274,000. SS&H Financial Advisors Inc. acquired a new stake in Main Street Capital during the 1st quarter worth about $1,079,000. Northern Trust Corp grew its holdings in Main Street Capital by 40.1% during the 1st quarter. Northern Trust Corp now owns 47,333 shares of the financial services provider’s stock worth $2,018,000 after acquiring an additional 13,542 shares during the period. Finally, Invesco Ltd. grew its holdings in Main Street Capital by 6.9% during the 1st quarter. Invesco Ltd. now owns 43,655 shares of the financial services provider’s stock worth $1,861,000 after acquiring an additional 2,814 shares during the period. 20.31% of the stock is owned by institutional investors and hedge funds.
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.