Advisors Asset Management Inc. Purchases 42,157 Shares of Main Street Capital Co. (NYSE:MAIN)

Advisors Asset Management Inc. raised its stake in shares of Main Street Capital Co. (NYSE:MAIN - Free Report) by 69.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 102,705 shares of the financial services provider's stock after purchasing an additional 42,157 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.12% of Main Street Capital worth $6,016,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Asset Planning Inc purchased a new position in shares of Main Street Capital in the 4th quarter valued at approximately $29,000. Truvestments Capital LLC bought a new position in Main Street Capital in the third quarter worth $39,000. Prospera Private Wealth LLC purchased a new position in Main Street Capital during the third quarter valued at $50,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Main Street Capital during the 3rd quarter valued at $50,000. Finally, AdvisorNet Financial Inc grew its position in shares of 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 buying an additional 729 shares during the period. 20.31% of the stock is currently owned by institutional investors.

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 company a "hold" rating in a research report on Monday, March 3rd.

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Main Street Capital Stock Up 1.9 %

Shares of NYSE:MAIN traded up $1.08 during trading on Monday, reaching $58.62. 420,781 shares of the stock traded hands, compared to its average volume of 412,777. Main Street Capital Co. has a 52-week low of $45.00 and a 52-week high of $63.32. The stock has a market cap of $5.19 billion, a P/E ratio of 10.62 and a beta of 1.26. The stock has a 50-day moving average of $59.80 and a two-hundred day moving average of $55.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.08 and a current ratio of 0.08.

Main Street Capital (NYSE:MAIN - Get Free Report) last posted its quarterly 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). 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 analysts' expectations of $141.40 million. As a group, sell-side analysts expect 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 declared a dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, March 21st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This is a positive change from Main Street Capital's previous dividend of $0.25. This represents a dividend yield of 7.11%. Main Street Capital's payout ratio is currently 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.