Raymond James Financial Inc. Takes $10.46 Million Position in Main Street Capital Co. (NYSE:MAIN)

Raymond James Financial Inc. purchased a new position in shares of Main Street Capital Co. (NYSE:MAIN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 178,555 shares of the financial services provider's stock, valued at approximately $10,460,000. Raymond James Financial Inc. owned about 0.20% of Main Street Capital at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp boosted its position in shares of Main Street Capital by 7.8% during the 4th quarter. Van ECK Associates Corp now owns 1,288,309 shares of the financial services provider's stock worth $75,469,000 after purchasing an additional 92,833 shares during the period. Adell Harriman & Carpenter Inc. boosted its position in shares of Main Street Capital by 1.5% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 425,552 shares of the financial services provider's stock worth $24,929,000 after buying an additional 6,297 shares during the period. Paradiem LLC grew its stake in shares of Main Street Capital by 0.3% in the fourth quarter. Paradiem LLC now owns 280,593 shares of the financial services provider's stock valued at $16,437,000 after buying an additional 732 shares in the last quarter. Muzinich & Co. Inc. raised its holdings in shares of Main Street Capital by 5.0% in the 4th quarter. Muzinich & Co. Inc. now owns 222,977 shares of the financial services provider's stock valued at $13,062,000 after buying an additional 10,593 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Main Street Capital by 5.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 220,517 shares of the financial services provider's stock worth $12,918,000 after acquiring an additional 10,593 shares in the last quarter. Hedge funds and other institutional investors own 20.31% of the company's stock.

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Wall Street Analysts Forecast Growth

Separately, Truist Financial lifted 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.

Main Street Capital Stock Up 1.9 %

Shares of NYSE MAIN traded up $1.08 during mid-day trading on Monday, hitting $58.62. The company had a trading volume of 420,566 shares, compared to its average volume of 412,776. Main Street Capital Co. has a 1-year low of $45.00 and a 1-year high of $63.32. The company has a market capitalization of $5.19 billion, a PE ratio of 10.62 and a beta of 1.26. 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 business's 50-day simple moving average is $59.80 and its 200 day simple moving average is $55.47.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.06). Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The company had revenue of $140.44 million during the quarter, compared to analysts' expectations of $141.40 million. On average, analysts predict 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 disclosed a dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, March 21st will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This is an increase from Main Street Capital's previous dividend of $0.25. This represents a dividend yield of 7.11%. Main Street Capital's dividend 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.