Main Street Capital (NYSE:MAIN) Reaches New 1-Year High – Here’s What Happened

Shares of Main Street Capital Co. (NYSE:MAIN) reached a new 52-week high during trading on Monday . The stock traded as high as $54.09 and last traded at $54.09, with a volume of 5075 shares changing hands. The stock had previously closed at $53.97.

Wall Street Analysts Forecast Growth

MAIN has been the subject of several analyst reports. B. Riley increased their price objective on Main Street Capital from $49.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Oppenheimer increased their price target on Main Street Capital from $43.00 to $44.00 and gave the stock a “market perform” rating in a report on Tuesday, August 13th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $52.00 price objective on shares of Main Street Capital in a report on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Main Street Capital has an average rating of “Hold” and a consensus target price of $48.80.

Main Street Capital Stock Up 0.7 %

The business has a 50 day simple moving average of $51.30 and a 200 day simple moving average of $50.24. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 9.80 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 Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 20th will be paid a $0.30 dividend. The ex-dividend date is Friday, December 20th. Main Street Capital’s payout ratio is currently 53.26%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its holdings in shares of Main Street Capital by 3.9% in the 3rd quarter. Van ECK Associates Corp now owns 1,195,476 shares of the financial services provider’s stock valued at $61,758,000 after purchasing an additional 45,381 shares during the last quarter. Burgundy Asset Management Ltd. boosted its holdings in shares of Main Street Capital by 1.6% in the second quarter. Burgundy Asset Management Ltd. now owns 1,106,782 shares of the financial services provider’s stock valued at $55,881,000 after acquiring an additional 17,623 shares during the period. Adell Harriman & Carpenter Inc. grew its position in shares of Main Street Capital by 3.5% during the third quarter. Adell Harriman & Carpenter Inc. now owns 419,255 shares of the financial services provider’s stock worth $21,021,000 after acquiring an additional 14,045 shares during the last quarter. Muzinich & Co. Inc. raised its position in Main Street Capital by 9.3% in the 3rd quarter. Muzinich & Co. Inc. now owns 212,384 shares of the financial services provider’s stock valued at $10,649,000 after purchasing an additional 18,059 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Main Street Capital by 9.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 209,924 shares of the financial services provider’s stock worth $10,526,000 after purchasing an additional 18,059 shares during the period. Hedge funds and other institutional investors own 20.31% of the company’s stock.

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.