Main Street Capital Co. (NYSE:MAIN) Declares Dividend of $0.30

Main Street Capital Co. (NYSE:MAIN) declared a dividend on Tuesday, March 18th, investing.com reports. Shareholders of record on Friday, March 21st will be paid a dividend of 0.30 per share by the financial services provider on Thursday, March 27th. This represents a 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 by an average of 8.6% annually over the last three years. Main Street Capital has a 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 tumble. 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 Trading Up 1.5 %

MAIN opened at $57.13 on Tuesday. 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 stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of 10.35 and a beta of 1.26. The business has a fifty day moving average price of $59.83 and a 200 day moving average price of $55.24. Main Street Capital has a 12 month low of $45.00 and a 12 month high of $63.32.

Main Street Capital (NYSE:MAIN) last issued 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 firm had revenue of $140.44 million during the quarter, compared to analysts’ expectations of $141.40 million. Sell-side analysts expect that Main Street Capital will post 4.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Main Street Capital

A hedge fund recently bought a new stake in Main Street Capital stock. Brighton Jones LLC acquired a new position in shares of Main Street Capital Co. (NYSE:MAIN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,185 shares of the financial services provider’s stock, valued at approximately $304,000. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Truist Financial raised their target price 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.

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.