Van ECK Associates Corp Grows Position in Main Street Capital Co. (NYSE:MAIN)

Van ECK Associates Corp lifted its position in shares of Main Street Capital Co. (NYSE:MAIN) by 3.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,195,476 shares of the financial services provider’s stock after purchasing an additional 45,381 shares during the quarter. Van ECK Associates Corp’s holdings in Main Street Capital were worth $61,758,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MAIN. Sumitomo Mitsui Trust Holdings Inc. grew its position in Main Street Capital by 2.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 189,762 shares of the financial services provider’s stock valued at $8,978,000 after buying an additional 4,564 shares during the period. MGB Wealth Management LLC boosted its stake in shares of Main Street Capital by 1.8% during the 1st quarter. MGB Wealth Management LLC now owns 41,559 shares of the financial services provider’s stock worth $1,966,000 after acquiring an additional 740 shares in the last quarter. Tectonic Advisors LLC boosted its stake in shares of Main Street Capital by 6.9% during the 1st quarter. Tectonic Advisors LLC now owns 133,650 shares of the financial services provider’s stock worth $6,323,000 after acquiring an additional 8,626 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Main Street Capital during the 1st quarter valued at about $475,000. Finally, Concurrent Investment Advisors LLC increased its stake in shares of 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 purchasing an additional 1,564 shares in the last quarter. 20.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. 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 research report on Tuesday, August 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 target price on shares of Main Street Capital in a research report on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $48.40.

Main Street Capital Trading Down 1.3 %

MAIN stock opened at $50.67 on Monday. Main Street Capital Co. has a 12-month low of $39.50 and a 12-month high of $52.62. The business’s 50-day moving average is $50.41 and its 200 day moving average is $49.94. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.11. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 9.47 and a beta of 1.29.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results on Thursday, August 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.01. Main Street Capital had a return on equity of 14.06% and a net margin of 87.58%. 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 company posted $1.06 earnings per share. On average, sell-side analysts anticipate that Main Street Capital Co. will post 4.12 EPS for the current fiscal year.

Main Street Capital Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 23rd were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a yield of 7.66%. Main Street Capital’s dividend payout ratio is presently 54.95%.

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.