Main Street Capital (NYSE:MAIN) Reaches New 12-Month High – What’s Next?

Shares of Main Street Capital Co. (NYSE:MAIN) reached a new 52-week high on Monday . The company traded as high as $52.49 and last traded at $52.37, with a volume of 45743 shares. The stock had previously closed at $52.35.

Analysts Set New Price Targets

MAIN has been the topic of several research reports. Oppenheimer upped their price objective on shares of Main Street Capital from $43.00 to $44.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 target price on shares of Main Street Capital in a research note on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $48.40.

Main Street Capital Price Performance

The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 9.55 and a beta of 1.30. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.07 and a current ratio of 0.07. The company has a fifty day simple moving average of $49.90 and a two-hundred day simple moving average of $49.62.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings data on Thursday, August 8th. The financial services provider reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. Main Street Capital had a net margin of 87.58% and a return on equity of 14.06%. The business had revenue of $132.15 million during the quarter, compared to analysts’ expectations of $132.62 million. During the same quarter in the prior year, the business posted $1.06 earnings per share. As a group, equities research analysts expect that Main Street Capital Co. will post 4.12 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 23rd were issued a $0.30 dividend. This represents a dividend yield of 7.66%. The ex-dividend date of this dividend was Friday, September 20th. Main Street Capital’s dividend payout ratio is presently 53.65%.

Institutional Trading of Main Street Capital

Institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp raised its stake in Main Street Capital by 14.0% during the second quarter. Van ECK Associates Corp now owns 1,150,095 shares of the financial services provider’s stock worth $58,069,000 after acquiring an additional 141,312 shares in the last quarter. Adell Harriman & Carpenter Inc. lifted its stake in Main Street Capital by 26.9% in the 2nd quarter. Adell Harriman & Carpenter Inc. now owns 405,210 shares of the financial services provider’s stock valued at $20,459,000 after purchasing an additional 85,995 shares during the last quarter. Pembroke Management LTD bought a new position in Main Street Capital in the 1st quarter valued at approximately $3,026,000. Cetera Investment Advisers acquired a new stake in Main Street Capital in the first quarter valued at approximately $2,669,000. Finally, Naviter Wealth LLC bought a new stake in shares of Main Street Capital during the first quarter worth $2,030,000. 20.31% of the stock is currently owned by institutional investors.

About Main Street Capital

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.