LPL Financial LLC raised its position in shares of Main Street Capital Co. (NYSE:MAIN – Free Report) by 7.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 244,004 shares of the financial services provider’s stock after acquiring an additional 16,713 shares during the period. LPL Financial LLC owned approximately 0.30% of Main Street Capital worth $9,767,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Mutual Advisors LLC grew its position in Main Street Capital by 4.9% during the second quarter. Mutual Advisors LLC now owns 5,900 shares of the financial services provider’s stock valued at $227,000 after acquiring an additional 273 shares during the period. Segment Wealth Management LLC grew its position in Main Street Capital by 0.7% during the second quarter. Segment Wealth Management LLC now owns 41,759 shares of the financial services provider’s stock valued at $1,672,000 after acquiring an additional 308 shares during the period. First Republic Investment Management Inc. grew its position in Main Street Capital by 0.9% during the second quarter. First Republic Investment Management Inc. now owns 34,031 shares of the financial services provider’s stock valued at $1,311,000 after acquiring an additional 317 shares during the period. Harbour Investments Inc. grew its position in Main Street Capital by 15.6% during the fourth quarter. Harbour Investments Inc. now owns 2,636 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 356 shares during the period. Finally, Resources Investment Advisors LLC. boosted its position in shares of Main Street Capital by 4.3% in the first quarter. Resources Investment Advisors LLC. now owns 8,940 shares of the financial services provider’s stock worth $353,000 after buying an additional 368 shares during the period. Hedge funds and other institutional investors own 20.20% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the company. Oppenheimer reaffirmed a “market perform” rating and issued a $41.00 target price on shares of Main Street Capital in a research report on Monday, August 7th. StockNews.com assumed coverage on Main Street Capital in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, B. Riley upped their target price on Main Street Capital from $46.00 to $47.00 in a research report on Monday, August 7th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Main Street Capital currently has an average rating of “Hold” and an average price target of $43.67.
Main Street Capital Trading Up 0.2 %
Shares of MAIN opened at $37.96 on Tuesday. The company has a market capitalization of $3.13 billion, a P/E ratio of 8.57 and a beta of 1.26. Main Street Capital Co. has a one year low of $35.41 and a one year high of $43.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.10 and a current ratio of 0.10. The stock has a 50-day moving average price of $40.00 and a 200 day moving average price of $40.17.
Main Street Capital (NYSE:MAIN – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. The firm had revenue of $127.58 million during the quarter, compared to the consensus estimate of $120.03 million. Main Street Capital had a return on equity of 14.33% and a net margin of 75.58%. Sell-side analysts forecast that Main Street Capital Co. will post 4.1 EPS for the current fiscal year.
Main Street Capital Increases Dividend
The company also recently disclosed a dividend, which was paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 20th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Tuesday, September 19th. This represents a yield of 8.47%. This is a boost from Main Street Capital’s previous dividend of $0.23. Main Street Capital’s dividend payout ratio is presently 63.66%.
Main Street Capital Profile
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.
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