TCTC Holdings LLC Raises Position in Main Street Capital Co. (NYSE:MAIN)

TCTC Holdings LLC raised its holdings in shares of Main Street Capital Co. (NYSE:MAIN) by 2.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 116,191 shares of the financial services provider’s stock after acquiring an additional 2,300 shares during the period. TCTC Holdings LLC’s holdings in Main Street Capital were worth $5,826,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp grew its holdings in shares of Main Street Capital by 3.9% in the third quarter. Van ECK Associates Corp now owns 1,195,476 shares of the financial services provider’s stock worth $61,758,000 after purchasing an additional 45,381 shares during the last quarter. Burgundy Asset Management Ltd. grew its holdings in Main Street Capital by 1.6% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,106,782 shares of the financial services provider’s stock worth $55,881,000 after acquiring an additional 17,623 shares during the last quarter. Adell Harriman & Carpenter Inc. increased its position in shares of Main Street Capital by 3.5% in the third quarter. Adell Harriman & Carpenter Inc. now owns 419,255 shares of the financial services provider’s stock valued at $21,021,000 after acquiring an additional 14,045 shares during the period. Sanders Morris Harris LLC raised its stake in shares of Main Street Capital by 0.7% during the third quarter. Sanders Morris Harris LLC now owns 208,052 shares of the financial services provider’s stock valued at $10,432,000 after acquiring an additional 1,443 shares during the last quarter. Finally, Trinity Legacy Partners LLC boosted its holdings in shares of Main Street Capital by 11.6% during the third quarter. Trinity Legacy Partners LLC now owns 204,891 shares of the financial services provider’s stock worth $10,476,000 after purchasing an additional 21,302 shares during the period. 20.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $52.00 price target on shares of Main Street Capital in a report on Wednesday, August 14th. Oppenheimer boosted their target price on 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 research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Main Street Capital has a consensus rating of “Hold” and a consensus target price of $48.40.

Main Street Capital Price Performance

Shares of NYSE MAIN opened at $51.87 on Friday. 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 Co. has a 1 year low of $40.25 and a 1 year high of $52.63. The company’s 50-day moving average is $50.60 and its 200 day moving average is $50.03. The stock has a market capitalization of $4.52 billion, a P/E ratio of 9.70 and a beta of 1.29.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, August 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 during the quarter, compared to analyst estimates of $132.62 million. During the same quarter in the prior year, the company earned $1.06 EPS. On average, sell-side analysts expect that Main Street Capital Co. will post 4.12 earnings per share for the current year.

Main Street Capital Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, March 7th will be issued a $0.25 dividend. This is an increase from Main Street Capital’s previous monthly dividend of $0.25. The ex-dividend date is Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a yield of 5.78%. Main Street Capital’s dividend payout ratio is 54.95%.

Main Street Capital Company 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.