Main Street Capital Co. (NYSE:MAIN) Announces Dividend Increase – $0.18 Per Share

Posted by Carolyn Dwyer on Mar 19th, 2023

Main Street Capital Co. (NYSE:MAIN – Get Rating) announced a dividend on Tuesday, February 21st, NASDAQ reports. Investors of record on Tuesday, March 21st will be given a dividend of 0.175 per share by the financial services provider on Tuesday, March 28th. The ex-dividend date of this dividend is Monday, March 20th. This is a positive change from Main Street Capital’s previous dividend of $0.08.

Main Street Capital has raised its dividend by an average of 2.4% per year over the last three years and has increased its dividend annually for the last 11 consecutive years. Main Street Capital has a payout ratio of 71.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Main Street Capital to earn $3.82 per share next year, which means the company should continue to be able to cover its $2.70 annual dividend with an expected future payout ratio of 70.7%.

Main Street Capital Stock Performance

MAIN opened at $38.48 on Friday. The company has a market capitalization of $3.06 billion, a PE ratio of 11.95 and a beta of 1.31. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.07 and a quick ratio of 0.07. The business has a fifty day simple moving average of $39.67 and a 200 day simple moving average of $38.00. Main Street Capital has a 1 year low of $31.66 and a 1 year high of $45.67.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. UBS Group started coverage on Main Street Capital in a report on Monday, December 19th. They issued a “neutral” rating and a $40.00 price objective for the company. TheStreet raised Main Street Capital from a “c+” rating to a “b-” rating in a report on Monday, February 6th. B. Riley boosted their price target on Main Street Capital from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, February 27th. Truist Financial boosted their price target on Main Street Capital from $40.00 to $43.00 and gave the stock a “hold” rating in a report on Tuesday, February 28th. Finally, Oppenheimer boosted their price target on Main Street Capital from $39.00 to $41.00 and gave the stock a “market perform” rating in a report on Monday, February 27th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $42.50.

Institutional Investors Weigh In On Main Street Capital

A number of institutional investors have recently made changes to their positions in the stock. Coppell Advisory Solutions Corp. bought a new stake in shares of Main Street Capital in the 4th quarter valued at about $203,000. Harbour Investments Inc. boosted its position in shares of Main Street Capital by 15.6% during the 4th quarter. Harbour Investments Inc. now owns 2,636 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 356 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Main Street Capital by 30.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,355 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 1,700 shares in the last quarter. CI Private Wealth LLC bought a new stake in shares of Main Street Capital during the 4th quarter valued at about $354,000. Finally, WealthPLAN Partners LLC bought a new stake in shares of Main Street Capital during the 4th quarter valued at about $965,000. Institutional investors own 18.79% of the company’s stock.

Main Street Capital Company Profile

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Main Street Capital is a principal investment firm that provides long-term debt and equity capital to lower middle market companies. Main Street’s investments are primarily made to support management buyouts, recapitalizations, growth financings and acquisitions of companies that operate in diverse industry sectors and generally have annual revenues ranging from $10 million to $100 million.