Main Street Capital (NYSE:MAIN) Reaches New 52-Week High – Should You Buy?

Main Street Capital Co. (NYSE:MAIN) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $53.06 and last traded at $52.96, with a volume of 87329 shares traded. The stock had previously closed at $52.65.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MAIN. B. Riley boosted their price objective on Main Street Capital from $49.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Royal Bank of Canada restated an “outperform” rating and issued a $52.00 price target on shares of Main Street Capital in a research note on Wednesday, August 14th. Finally, Oppenheimer upped their price target 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. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $48.80.

Main Street Capital Trading Up 1.0 %

The firm’s fifty day moving average price is $50.97 and its 200-day moving average price is $50.16. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 9.61 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08.

Main Street Capital Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, March 7th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.00 annualized dividend and a dividend yield of 5.64%. This is a positive change from Main Street Capital’s previous monthly dividend of $0.25. Main Street Capital’s dividend payout ratio (DPR) is presently 53.26%.

Institutional Trading of Main Street Capital

Several large investors have recently added to or reduced their stakes in the business. Marietta Wealth Management LLC bought a new stake in shares of Main Street Capital during the second quarter valued at about $581,000. Freestone Capital Holdings LLC bought a new stake in Main Street Capital during the first quarter worth approximately $568,000. Cetera Advisors LLC lifted its position in Main Street Capital by 49.0% in the first quarter. Cetera Advisors LLC now owns 34,878 shares of the financial services provider’s stock worth $1,650,000 after purchasing an additional 11,464 shares during the period. Susquehanna Fundamental Investments LLC boosted its stake in 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 valued at $1,718,000 after purchasing an additional 23,970 shares in the last quarter. Finally, Cetera Investment Advisers bought a new stake in Main Street Capital in the first quarter worth about $2,669,000. 20.31% of the stock is currently owned by institutional investors and hedge funds.

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.