Main Street Capital Co. (NYSE:MAIN) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in Main Street Capital Co. (NYSE:MAIN - Free Report) by 56.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,316 shares of the financial services provider's stock after buying an additional 10,625 shares during the quarter. Bank of New York Mellon Corp's holdings in Main Street Capital were worth $1,717,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of MAIN. Advisors Asset Management Inc. lifted its holdings in Main Street Capital by 42.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 60,548 shares of the financial services provider's stock worth $3,036,000 after buying an additional 18,188 shares in the last quarter. MGB Wealth Management LLC boosted its holdings in Main Street Capital by 2.8% in the third quarter. MGB Wealth Management LLC now owns 42,859 shares of the financial services provider's stock valued at $2,149,000 after purchasing an additional 1,150 shares during the last quarter. Larson Financial Group LLC grew its stake in Main Street Capital by 4.5% during the 3rd quarter. Larson Financial Group LLC now owns 44,968 shares of the financial services provider's stock valued at $2,255,000 after purchasing an additional 1,931 shares in the last quarter. Centaurus Financial Inc. increased its holdings in Main Street Capital by 6.4% during the 3rd quarter. Centaurus Financial Inc. now owns 14,742 shares of the financial services provider's stock worth $739,000 after purchasing an additional 885 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of Main Street Capital in the 3rd quarter valued at approximately $39,000. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Separately, Truist Financial lifted their price target on shares of Main Street Capital from $52.00 to $62.00 and gave the stock a "hold" rating in a research note on Monday, March 3rd.

Main Street Capital Stock Performance

Shares of MAIN traded down $1.13 during mid-day trading on Wednesday, hitting $57.92. The stock had a trading volume of 696,298 shares, compared to its average volume of 413,492. Main Street Capital Co. has a fifty-two week low of $45.00 and a fifty-two week high of $63.32. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. The company has a market cap of $5.13 billion, a PE ratio of 10.49 and a beta of 1.26. The company's fifty day simple moving average is $59.82 and its two-hundred day simple moving average is $55.61.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The financial services provider reported $1.02 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.06). The business had revenue of $140.44 million during the quarter, compared to analyst estimates of $141.40 million. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. On average, equities analysts expect that Main Street Capital Co. will post 4.11 earnings per share for the current year.

Main Street Capital Increases Dividend

The firm also recently announced a dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, March 21st will be issued a $0.30 dividend. The ex-dividend date is Thursday, March 20th. This represents a yield of 7.11%. This is a boost from Main Street Capital's previous dividend of $0.25. Main Street Capital's dividend payout ratio (DPR) is currently 51.37%.

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.