JPMorgan Chase & Co. Reduces Position in Main Street Capital Co. (NYSE:MAIN)

JPMorgan Chase & Co. lessened its stake in Main Street Capital Co. (NYSE:MAIN - Free Report) by 22.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 101,549 shares of the financial services provider's stock after selling 29,740 shares during the quarter. JPMorgan Chase & Co. owned 0.12% of Main Street Capital worth $5,092,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Van ECK Associates Corp increased its holdings in Main Street Capital by 3.9% in the third quarter. Van ECK Associates Corp now owns 1,195,476 shares of the financial services provider's stock valued at $61,758,000 after buying an additional 45,381 shares in the last quarter. Burgundy Asset Management Ltd. grew its position in shares of Main Street Capital by 1.6% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,106,782 shares of the financial services provider's stock valued at $55,881,000 after acquiring an additional 17,623 shares during the period. Adell Harriman & Carpenter Inc. grew its position in shares of Main Street Capital by 3.5% during the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 419,255 shares of the financial services provider's stock valued at $21,021,000 after acquiring an additional 14,045 shares during the period. Franklin Resources Inc. increased its stake in shares of Main Street Capital by 19.3% in the 3rd quarter. Franklin Resources Inc. now owns 217,461 shares of the financial services provider's stock valued at $11,119,000 after purchasing an additional 35,227 shares in the last quarter. Finally, Muzinich & Co. Inc. boosted its position in Main Street Capital by 9.3% during the third quarter. Muzinich & Co. Inc. now owns 212,384 shares of the financial services provider's stock worth $10,649,000 after purchasing an additional 18,059 shares in the last quarter. Hedge funds and other institutional investors own 20.31% of the company's stock.

Main Street Capital Price Performance

Main Street Capital stock traded down $0.45 during midday trading on Friday, reaching $60.03. The company had a trading volume of 765,583 shares, compared to its average volume of 544,824. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08. Main Street Capital Co. has a 12-month low of $43.52 and a 12-month high of $60.87. The company has a market capitalization of $5.29 billion, a P/E ratio of 10.88 and a beta of 1.28. The firm's fifty day simple moving average is $56.03 and its 200-day simple moving average is $52.35.

Main Street Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, February 7th will be paid a $0.30 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date of this dividend is Friday, February 7th. Main Street Capital's dividend payout ratio is presently 54.35%.

Analyst Upgrades and Downgrades

Separately, B. Riley upped their target price on Main Street Capital from $49.00 to $51.00 and gave the stock a "neutral" rating in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $48.80.

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.