Muzinich & Co. Inc. Acquires 18,059 Shares of Main Street Capital Co. (NYSE:MAIN)

Muzinich & Co. Inc. boosted its holdings in shares of Main Street Capital Co. (NYSE:MAIN) by 9.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 212,384 shares of the financial services provider’s stock after acquiring an additional 18,059 shares during the quarter. Main Street Capital accounts for about 7.5% of Muzinich & Co. Inc.’s investment portfolio, making the stock its 2nd largest holding. Muzinich & Co. Inc.’s holdings in Main Street Capital were worth $10,649,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp increased its stake 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 acquiring an additional 45,381 shares during the last quarter. Burgundy Asset Management Ltd. increased its position 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 purchasing an additional 17,623 shares during the last quarter. Adell Harriman & Carpenter Inc. raised its stake in shares of Main Street Capital by 3.5% during the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 419,255 shares of the financial services provider’s stock worth $21,021,000 after purchasing an additional 14,045 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Main Street Capital by 9.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 209,924 shares of the financial services provider’s stock valued at $10,526,000 after buying an additional 18,059 shares during the last quarter. Finally, Sanders Morris Harris LLC grew its stake in shares of Main Street Capital by 0.7% in the 3rd quarter. Sanders Morris Harris LLC now owns 208,052 shares of the financial services provider’s stock valued at $10,432,000 after buying an additional 1,443 shares in the last quarter. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Main Street Capital Stock Performance

Shares of MAIN opened at $52.16 on Friday. The company has a market capitalization of $4.60 billion, a PE ratio of 9.45 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.07. Main Street Capital Co. has a one year low of $40.51 and a one year high of $52.89. The company’s fifty day moving average price is $50.90 and its 200 day moving average price is $50.14.

Main Street Capital Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, March 7th will be given a dividend of $0.25 per share. This represents a $3.00 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Main Street Capital’s previous monthly dividend of $0.25. Main Street Capital’s payout ratio is currently 53.26%.

Analysts Set New Price Targets

A number of analysts have issued reports on MAIN shares. Oppenheimer lifted their target price 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $52.00 price objective on shares of Main Street Capital in a research note on Wednesday, August 14th. Finally, B. Riley upped their price objective on shares of Main Street Capital from $49.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $48.80.

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.