DnB Asset Management AS Has $8.77 Million Stake in Main Street Capital Co. (NYSE:MAIN)

DnB Asset Management AS raised its holdings in shares of Main Street Capital Co. (NYSE:MAIN) by 19.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,638 shares of the financial services provider’s stock after purchasing an additional 24,714 shares during the quarter. DnB Asset Management AS owned 0.17% of Main Street Capital worth $8,772,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Asset Planning Inc bought a new stake in shares of Main Street Capital during the fourth quarter worth about $29,000. Wilmington Savings Fund Society FSB acquired a new position in Main Street Capital during the 3rd quarter valued at about $50,000. AdvisorNet Financial Inc increased its holdings in Main Street Capital by 145.8% during the 4th quarter. AdvisorNet Financial Inc now owns 1,229 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 729 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Main Street Capital by 31.3% in the fourth quarter. Jones Financial Companies Lllp now owns 1,306 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 311 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of Main Street Capital by 34.2% during the fourth quarter. Signaturefd LLC now owns 1,494 shares of the financial services provider’s stock valued at $88,000 after buying an additional 381 shares during the last quarter. Institutional investors and hedge funds own 20.31% of the company’s stock.

Insider Activity

In other news, insider David L. Magdol sold 100,000 shares of the company’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the transaction, the insider now owns 377,182 shares of the company’s stock, valued at $21,895,415.10. This represents a 20.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dwayne L. Hyzak sold 120,000 shares of Main Street Capital stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $6,966,000.00. Following the completion of the sale, the chief executive officer now directly owns 402,371 shares of the company’s stock, valued at approximately $23,357,636.55. This trade represents a 22.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial increased their price target on Main Street Capital from $52.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, March 3rd.

Main Street Capital Price Performance

Shares of NYSE MAIN opened at $56.64 on Friday. The company has a market capitalization of $5.02 billion, a PE ratio of 10.26 and a beta of 1.26. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $59.67 and its 200-day moving average price is $55.74. Main Street Capital Co. has a twelve month low of $45.00 and a twelve month high of $63.32.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings data on Thursday, February 27th. The financial services provider reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.06). Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The business had revenue of $140.44 million during the quarter, compared to analysts’ expectations of $141.40 million. On average, equities analysts anticipate that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

The business also recently announced a dividend, which was paid on Thursday, March 27th. Shareholders of record on Friday, March 21st were paid a $0.30 dividend. This represents a yield of 7.11%. This is a boost from Main Street Capital’s previous dividend of $0.25. The ex-dividend date was Thursday, March 20th. Main Street Capital’s payout ratio is presently 51.37%.

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.