Verity Asset Management Inc. Reduces Stock Position in Main Street Capital Co. (NYSE:MAIN)

Verity Asset Management Inc. lowered its stake in shares of Main Street Capital Co. (NYSE:MAIN) by 13.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,427 shares of the financial services provider’s stock after selling 688 shares during the period. Verity Asset Management Inc.’s holdings in Main Street Capital were worth $222,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MAIN. Van ECK Associates Corp lifted its position in shares of Main Street Capital by 14.0% during the second quarter. Van ECK Associates Corp now owns 1,150,095 shares of the financial services provider’s stock worth $58,069,000 after acquiring an additional 141,312 shares in the last quarter. Joel Isaacson & Co. LLC raised its position in shares of Main Street Capital by 3,098.3% in the third quarter. Joel Isaacson & Co. LLC now owns 127,996 shares of the financial services provider’s stock worth $6,418,000 after buying an additional 123,994 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Main Street Capital by 7,077.4% in the third quarter. International Assets Investment Management LLC now owns 112,182 shares of the financial services provider’s stock worth $5,625,000 after buying an additional 110,619 shares in the last quarter. Adell Harriman & Carpenter Inc. raised its position in shares of Main Street Capital by 26.9% in the second quarter. Adell Harriman & Carpenter Inc. now owns 405,210 shares of the financial services provider’s stock worth $20,459,000 after buying an additional 85,995 shares in the last quarter. Finally, Pembroke Management LTD purchased a new stake in shares of Main Street Capital in the first quarter worth $3,026,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on MAIN. Oppenheimer increased 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. Royal Bank of Canada reissued an “outperform” rating and issued a $52.00 target price on shares of Main Street Capital in a research note on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $48.40.

Main Street Capital Stock Up 0.7 %

Shares of NYSE:MAIN opened at $51.87 on Friday. 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’s 50-day moving average price is $50.60 and its 200-day moving average price 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 Co. has a 12-month low of $40.25 and a 12-month high of $52.63.

Main Street Capital (NYSE:MAIN) last posted its earnings results on Thursday, August 8th. The financial services provider reported $1.01 earnings per share for the quarter, hitting 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 company had revenue of $132.15 million during the quarter, compared to analyst estimates of $132.62 million. During the same period in the prior year, the business posted $1.06 earnings per share. On average, equities analysts anticipate that Main Street Capital Co. will post 4.12 earnings per share for the current year.

Main Street Capital Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.25 per share. This represents a $3.00 annualized dividend and a dividend yield of 5.78%. This is a positive change from Main Street Capital’s previous monthly dividend of $0.25. The ex-dividend date of this dividend is Friday, March 7th. Main Street Capital’s dividend payout ratio (DPR) is presently 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.