Trinity Legacy Partners LLC Boosts Stock Position in Main Street Capital Co. (NYSE:MAIN)

Trinity Legacy Partners LLC boosted its holdings in shares of Main Street Capital Co. (NYSE:MAIN) by 11.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 204,891 shares of the financial services provider’s stock after purchasing an additional 21,302 shares during the quarter. Main Street Capital comprises approximately 2.4% of Trinity Legacy Partners LLC’s holdings, making the stock its 8th largest position. Trinity Legacy Partners LLC owned about 0.24% of Main Street Capital worth $10,476,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Holdings Inc. grew its position in Main Street Capital by 2.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 189,762 shares of the financial services provider’s stock worth $8,978,000 after purchasing an additional 4,564 shares during the last quarter. Tectonic Advisors LLC increased its stake in Main Street Capital by 6.9% during the first quarter. Tectonic Advisors LLC now owns 133,650 shares of the financial services provider’s stock valued at $6,323,000 after acquiring an additional 8,626 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Main Street Capital during the first quarter valued at about $475,000. Concurrent Investment Advisors LLC raised its holdings in Main Street Capital by 17.3% in the 1st quarter. Concurrent Investment Advisors LLC now owns 10,604 shares of the financial services provider’s stock valued at $502,000 after acquiring an additional 1,564 shares in the last quarter. Finally, NorthRock Partners LLC bought a new stake in shares of Main Street Capital in the 1st quarter worth approximately $241,000. Institutional investors and hedge funds own 20.31% of the company’s stock.

Main Street Capital Price Performance

Shares of MAIN stock opened at $51.74 on Friday. The stock’s fifty day simple moving average is $50.55 and its 200 day simple moving average is $50.00. Main Street Capital Co. has a one year low of $39.94 and a one year high of $52.62. The firm has a market cap of $4.51 billion, a price-to-earnings ratio of 9.67 and a beta of 1.29. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.07 and a quick ratio of 0.07.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, August 8th. The financial services provider reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. Main Street Capital had a net margin of 87.58% and a return on equity of 14.06%. The firm had revenue of $132.15 million for the quarter, compared to analyst estimates of $132.62 million. During the same period in the previous year, the business earned $1.06 earnings per share. On average, analysts expect that Main Street Capital Co. will post 4.12 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, March 7th will be issued a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a yield of 5.80%. This is a boost from Main Street Capital’s previous monthly dividend of $0.25. The ex-dividend date is Friday, March 7th. Main Street Capital’s dividend payout ratio (DPR) is currently 54.95%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Royal Bank of Canada restated an “outperform” rating and issued a $52.00 target price on shares of Main Street Capital in a research note on Wednesday, August 14th. Oppenheimer increased 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 research note on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $48.40.

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.