Main Street Capital (NYSE:MAIN) Hits New 52-Week High – Time to Buy?

Main Street Capital Co. (NYSE:MAIN) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $54.09 and last traded at $54.09, with a volume of 5075 shares trading hands. The stock had previously closed at $53.97.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MAIN. B. Riley increased their price objective on shares of Main Street Capital from $49.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $52.00 target price on shares of Main Street Capital in a research note on Wednesday, August 14th. Finally, Oppenheimer boosted their price target on shares of Main Street Capital from $43.00 to $44.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 13th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $48.80.

Main Street Capital Stock Up 0.7 %

The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. The business’s 50-day simple moving average is $51.30 and its 200 day simple moving average is $50.24. The firm has a market cap of $4.79 billion, a PE ratio of 9.80 and a beta of 1.29.

Main Street Capital Announces Dividend

The business also recently announced a dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 20th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, December 20th. Main Street Capital’s dividend payout ratio (DPR) is presently 53.26%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MAIN. Van ECK Associates Corp grew its stake in 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 valued at $61,758,000 after purchasing an additional 45,381 shares during the last quarter. Burgundy Asset Management Ltd. lifted its stake in shares of 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 valued at $55,881,000 after purchasing an additional 17,623 shares during the period. Adell Harriman & Carpenter Inc. boosted its holdings in Main Street Capital by 3.5% during the third quarter. Adell Harriman & Carpenter Inc. now owns 419,255 shares of the financial services provider’s stock worth $21,021,000 after buying an additional 14,045 shares in the last quarter. Muzinich & Co. Inc. grew its position in Main Street Capital by 9.3% during the third quarter. Muzinich & Co. Inc. now owns 212,384 shares of the financial services provider’s stock valued at $10,649,000 after buying an additional 18,059 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in Main Street Capital by 9.4% in the third 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 in the last quarter. 20.31% of the stock is owned by institutional investors.

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.