HighTower Advisors LLC Boosts Stake in Main Street Capital Co. (NYSE:MAIN)

HighTower Advisors LLC boosted its stake in shares of Main Street Capital Co. (NYSE:MAIN - Free Report) by 9.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,716 shares of the financial services provider's stock after acquiring an additional 8,832 shares during the quarter. HighTower Advisors LLC owned about 0.12% of Main Street Capital worth $6,134,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Wealthstar Advisors LLC bought a new stake in Main Street Capital during the fourth quarter worth approximately $1,326,000. Franklin Resources Inc. boosted its position in shares of Main Street Capital by 19.3% during the third quarter. Franklin Resources Inc. now owns 217,461 shares of the financial services provider's stock valued at $11,119,000 after buying an additional 35,227 shares during the period. Segment Wealth Management LLC boosted its position in shares of Main Street Capital by 15.8% during the fourth quarter. Segment Wealth Management LLC now owns 50,368 shares of the financial services provider's stock valued at $2,951,000 after buying an additional 6,856 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Main Street Capital during the fourth quarter valued at approximately $957,000. Finally, Morgan Dempsey Capital Management LLC purchased a new position in shares of Main Street Capital during the fourth quarter valued at approximately $6,007,000. 20.31% of the stock is owned by institutional investors.

Main Street Capital Trading Down 0.3 %

Shares of NYSE:MAIN traded down $0.16 during trading hours on Friday, hitting $57.62. 1,006,923 shares of the company's stock traded hands, compared to its average volume of 412,105. 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 capitalization of $5.10 billion, a P/E ratio of 10.44 and a beta of 1.26. The business has a fifty day moving average price of $59.80 and a 200-day moving average price of $55.39. Main Street Capital Co. has a 1 year low of $45.00 and a 1 year high of $63.32.

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Main Street Capital (NYSE:MAIN - Get Free Report) last announced 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). The firm had revenue of $140.44 million during the quarter, compared to analysts' expectations of $141.40 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. 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 company also recently declared a dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, March 21st will be issued a $0.30 dividend. This is a positive change from Main Street Capital's previous dividend of $0.25. The ex-dividend date is Thursday, March 20th. This represents a dividend yield of 7.11%. Main Street Capital's payout ratio is presently 51.37%.

Wall Street Analysts Forecast Growth

Separately, Truist Financial boosted their target price on Main Street Capital from $52.00 to $62.00 and gave the company 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.