Main Street Capital (NYSE:MAIN) Hits New 52-Week High Following Dividend Announcement

Main Street Capital Co. (NYSE:MAIN - Get Free Report)'s stock price reached a new 52-week high on Friday following a dividend announcement from the company. The stock traded as high as $52.63 and last traded at $52.11, with a volume of 193037 shares trading hands. The stock had previously closed at $51.50.

The newly announced dividend which will be paid on Friday, March 14th. Investors of record on Friday, March 7th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a yield of 5.78%. This is an increase from Main Street Capital's previous monthly dividend of $0.25. Main Street Capital's dividend payout ratio is currently 53.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MAIN shares. Oppenheimer increased their price target on shares of Main Street Capital from $43.00 to $44.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 13th. Royal Bank of Canada reissued an "outperform" rating and set a $52.00 price target on shares of Main Street Capital in a research report on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $48.40.

Main Street Capital Price Performance

The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.11. The firm has a market cap of $4.52 billion, a P/E ratio of 9.40 and a beta of 1.29. The company has a 50 day moving average of $50.55 and a two-hundred day moving average of $50.00.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued its earnings results on Thursday, August 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.01. Main Street Capital had a return on equity of 14.06% and a net margin of 87.58%. The business had revenue of $132.15 million for the quarter, compared to analysts' expectations of $132.62 million. During the same period in the previous year, the firm posted $1.06 EPS. Sell-side analysts expect that Main Street Capital Co. will post 4.12 EPS for the current year.

Institutional Trading of Main Street Capital

Several large investors have recently added to or reduced their stakes in MAIN. Marietta Wealth Management LLC acquired a new stake in Main Street Capital in the 2nd quarter worth $581,000. Freestone Capital Holdings LLC acquired a new stake in Main Street Capital during the first quarter valued at approximately $568,000. Cetera Advisors LLC grew its stake in shares of Main Street Capital by 49.0% in the 1st quarter. Cetera Advisors LLC now owns 34,878 shares of the financial services provider's stock valued at $1,650,000 after purchasing an additional 11,464 shares during the period. Susquehanna Fundamental Investments LLC lifted its position in shares of Main Street Capital by 238.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 34,020 shares of the financial services provider's stock worth $1,718,000 after buying an additional 23,970 shares during the period. Finally, Entropy Technologies LP acquired a new stake in Main Street Capital in the 1st quarter valued at $549,000. 20.31% of the stock is owned by institutional investors.

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.