Main Street Capital (NYSE:MAIN) Sets New 1-Year High – Here’s Why

Main Street Capital Co. (NYSE:MAIN) reached a new 52-week high on Wednesday . The company traded as high as $60.98 and last traded at $60.83, with a volume of 569046 shares trading hands. The stock had previously closed at $60.04.

Analysts Set New Price Targets

Separately, B. Riley raised their price target on shares of Main Street Capital from $49.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $48.80.

Main Street Capital Price Performance

The company has a market cap of $5.36 billion, a price-to-earnings ratio of 11.02 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.08 and a current ratio of 0.08. The company’s 50 day moving average price is $56.19 and its 200 day moving average price is $52.42.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, November 7th. The financial services provider reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02). Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The firm had revenue of $136.82 million during the quarter, compared to analyst estimates of $137.57 million. During the same quarter last year, the firm earned $1.04 earnings per share. On average, equities research analysts predict that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 7th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.60 annualized dividend and a yield of 5.92%. Main Street Capital’s payout ratio is 54.35%.

Institutional Trading of Main Street Capital

Several large investors have recently made changes to their positions in MAIN. Godsey & Gibb Inc. acquired a new position in Main Street Capital during the 3rd quarter worth about $28,000. Truvestments Capital LLC bought a new position in shares of Main Street Capital in the third quarter worth about $39,000. Prospera Private Wealth LLC acquired a new position in shares of Main Street Capital during the third quarter worth approximately $50,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Main Street Capital during the third quarter valued at approximately $50,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Main Street Capital by 59.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,089 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 405 shares in the last quarter. 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.