Adell Harriman & Carpenter Inc. Buys 14,045 Shares of Main Street Capital Co. (NYSE:MAIN)

Adell Harriman & Carpenter Inc. increased its stake in shares of Main Street Capital Co. (NYSE:MAIN - Free Report) by 3.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 419,255 shares of the financial services provider's stock after purchasing an additional 14,045 shares during the period. Main Street Capital accounts for 1.5% of Adell Harriman & Carpenter Inc.'s investment portfolio, making the stock its 18th largest position. Adell Harriman & Carpenter Inc. owned about 0.48% of Main Street Capital worth $21,021,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its holdings in Main Street Capital by 14.0% during the 2nd quarter. Van ECK Associates Corp now owns 1,150,095 shares of the financial services provider's stock worth $58,069,000 after purchasing an additional 141,312 shares in the last quarter. Burgundy Asset Management Ltd. increased its stake in Main Street Capital by 1.6% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,106,782 shares of the financial services provider's stock worth $55,881,000 after acquiring an additional 17,623 shares during the last quarter. Sanders Morris Harris LLC increased its stake in Main Street Capital by 0.7% in the 3rd quarter. Sanders Morris Harris LLC now owns 208,052 shares of the financial services provider's stock worth $10,432,000 after acquiring an additional 1,443 shares during the last quarter. Paradiem LLC increased its stake in Main Street Capital by 7.6% in the 2nd quarter. Paradiem LLC now owns 194,865 shares of the financial services provider's stock worth $9,839,000 after acquiring an additional 13,785 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Main Street Capital by 1.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 191,865 shares of the financial services provider's stock worth $9,687,000 after acquiring an additional 2,103 shares during the last quarter. Hedge funds and other institutional investors own 20.31% of the company's stock.

Main Street Capital Price Performance

Shares of Main Street Capital stock traded up $0.23 during trading on Wednesday, hitting $51.57. 219,792 shares of the stock traded hands, compared to its average volume of 360,462. 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 stock has a market cap of $4.42 billion, a price-to-earnings ratio of 9.37 and a beta of 1.30. The firm's fifty day moving average is $50.31 and its 200-day moving average is $49.84. Main Street Capital Co. has a 52 week low of $37.83 and a 52 week high of $52.62.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The financial services provider reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. The firm had revenue of $132.15 million for the quarter, compared to analyst estimates of $132.62 million. Main Street Capital had a return on equity of 14.06% and a net margin of 87.58%. During the same period in the prior year, the company earned $1.06 EPS. Research analysts expect that Main Street Capital Co. will post 4.12 EPS for the current fiscal year.

Main Street Capital Dividend Announcement

The business also recently declared a dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 23rd were given a dividend of $0.30 per share. The ex-dividend date was Friday, September 20th. This represents a yield of 7.66%. Main Street Capital's payout ratio is 53.65%.

Analyst Ratings Changes

A number of equities analysts have weighed in on MAIN shares. Royal Bank of Canada restated an "outperform" rating and issued a $52.00 target price on shares of Main Street Capital in a research note on Wednesday, August 14th. Oppenheimer upped their target price on Main Street Capital from $43.00 to $44.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 13th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Main Street Capital has an average rating of "Hold" and a consensus target price of $48.40.

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.