DnB Asset Management AS Raises Stock Position in Main Street Capital Co. (NYSE:MAIN)

DnB Asset Management AS boosted its stake in shares of Main Street Capital Co. (NYSE:MAIN - Free Report) by 19.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,638 shares of the financial services provider's stock after purchasing an additional 24,714 shares during the quarter. DnB Asset Management AS owned about 0.17% of Main Street Capital worth $8,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MAIN. Van ECK Associates Corp lifted its holdings in shares of Main Street Capital by 7.8% during the 4th quarter. Van ECK Associates Corp now owns 1,288,309 shares of the financial services provider's stock valued at $75,469,000 after purchasing an additional 92,833 shares during the last quarter. Adell Harriman & Carpenter Inc. raised its stake in Main Street Capital by 1.5% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 425,552 shares of the financial services provider's stock valued at $24,929,000 after buying an additional 6,297 shares during the last quarter. LPL Financial LLC boosted its holdings in Main Street Capital by 1.6% in the fourth quarter. LPL Financial LLC now owns 299,165 shares of the financial services provider's stock worth $17,525,000 after acquiring an additional 4,740 shares in the last quarter. Paradiem LLC grew its stake in shares of Main Street Capital by 0.3% during the fourth quarter. Paradiem LLC now owns 280,593 shares of the financial services provider's stock worth $16,437,000 after acquiring an additional 732 shares during the last quarter. Finally, Muzinich & Co. Inc. increased its holdings in shares of Main Street Capital by 5.0% during the fourth quarter. Muzinich & Co. Inc. now owns 222,977 shares of the financial services provider's stock valued at $13,062,000 after acquiring an additional 10,593 shares in the last quarter. Hedge funds and other institutional investors own 20.31% of the company's stock.

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Insider Buying and Selling

In related news, insider David L. Magdol sold 100,000 shares of the business's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value 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 approximately $21,895,415.10. The trade was a 20.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dwayne L. Hyzak sold 120,000 shares of Main Street Capital stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the completion of the sale, the chief executive officer now owns 402,371 shares in the company, valued at approximately $23,357,636.55. This trade represents a 22.97 % decrease in their position. The disclosure for this sale can be found here. 4.00% of the stock is owned by corporate insiders.

Main Street Capital Stock Performance

NYSE:MAIN traded down $0.16 during midday trading on Wednesday, hitting $57.56. The company's stock had a trading volume of 146,195 shares, compared to its average volume of 416,936. 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 debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market cap of $5.10 billion, a P/E ratio of 10.43 and a beta of 1.26. The firm's 50 day moving average is $59.53 and its 200-day moving average is $55.89.

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 earnings per share 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 business had revenue of $140.44 million during the quarter, compared to analyst estimates of $141.40 million. Equities analysts anticipate that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The business also recently announced a dividend, which was paid on Thursday, March 27th. Stockholders of record on Friday, March 21st were paid a $0.30 dividend. This is an increase from Main Street Capital's previous dividend of $0.25. The ex-dividend date was Thursday, March 20th. This represents a dividend yield of 7.11%. Main Street Capital's dividend payout ratio is presently 51.37%.

Analysts Set New Price Targets

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

Main Street Capital 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.