Main Street Capital Co. (NYSE:MAIN) Shares Sold by Wambolt & Associates LLC

Wambolt & Associates LLC cut its stake in shares of Main Street Capital Co. (NYSE:MAIN) by 11.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 75,205 shares of the financial services provider’s stock after selling 9,656 shares during the quarter. Main Street Capital comprises about 1.4% of Wambolt & Associates LLC’s investment portfolio, making the stock its 18th largest position. Wambolt & Associates LLC owned approximately 0.09% of Main Street Capital worth $4,406,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Asset Planning Inc acquired a new position in shares of Main Street Capital during the 4th quarter worth $29,000. Truvestments Capital LLC acquired a new stake in shares of Main Street Capital during the third quarter valued at $39,000. Wilmington Savings Fund Society FSB acquired a new stake in Main Street Capital during the third quarter worth approximately $50,000. AdvisorNet Financial Inc grew 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 acquiring an additional 729 shares during the period. Finally, Jones Financial Companies Lllp raised its holdings in Main Street Capital by 31.3% in the 4th quarter. Jones Financial Companies Lllp now owns 1,306 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 311 shares during the last quarter. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Wall Street Analyst Weigh In

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

Main Street Capital Price Performance

Main Street Capital stock opened at $58.62 on Tuesday. The firm has a fifty day moving average of $59.82 and a 200-day moving average of $55.54. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. Main Street Capital Co. has a 52-week low of $45.00 and a 52-week high of $63.32. The firm has a market capitalization of $5.19 billion, a P/E ratio of 10.62 and a beta of 1.26.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.06). The company had revenue of $140.44 million during the quarter, compared to analysts’ expectations of $141.40 million. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. As a group, analysts predict that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

The company also recently announced a dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, March 21st will be given 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 is Thursday, March 20th. Main Street Capital’s payout ratio is presently 51.37%.

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.