Raymond James Trust N.A. Makes New $348,000 Investment in Main Street Capital Co. (NYSE:MAIN)

Raymond James Trust N.A. bought a new stake in shares of Main Street Capital Co. (NYSE:MAIN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,897 shares of the financial services provider’s stock, valued at approximately $348,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MAIN. Price T Rowe Associates Inc. MD increased its position in Main Street Capital by 2.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,435,508 shares of the financial services provider’s stock valued at $148,518,000 after purchasing an additional 71,698 shares during the period. Burgundy Asset Management Ltd. raised its stake in Main Street Capital by 1.4% in the first quarter. Burgundy Asset Management Ltd. now owns 1,089,159 shares of the financial services provider’s stock worth $51,528,000 after buying an additional 15,392 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Main Street Capital by 13.9% in the first quarter. Van ECK Associates Corp now owns 1,008,783 shares of the financial services provider’s stock worth $47,726,000 after buying an additional 122,757 shares during the period. Sound Income Strategies LLC boosted its position in Main Street Capital by 2.2% during the 1st quarter. Sound Income Strategies LLC now owns 359,773 shares of the financial services provider’s stock valued at $17,021,000 after acquiring an additional 7,790 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. grew its holdings in shares of Main Street Capital by 13.1% during the 1st quarter. Adell Harriman & Carpenter Inc. now owns 319,215 shares of the financial services provider’s stock worth $15,102,000 after acquiring an additional 37,075 shares during the period. Institutional investors own 20.31% of the company’s stock.

Main Street Capital Stock Down 0.1 %

NYSE:MAIN opened at $49.29 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. The firm has a market cap of $4.22 billion, a P/E ratio of 8.99 and a beta of 1.29. Main Street Capital Co. has a fifty-two week low of $37.70 and a fifty-two week high of $52.39. The firm has a 50-day simple moving average of $50.17 and a two-hundred day simple moving average of $48.47.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, August 8th. The financial services provider reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. Main Street Capital had a net margin of 89.11% and a return on equity of 14.83%. The firm had revenue of $132.15 million for the quarter, compared to analysts’ expectations of $132.62 million. During the same quarter in the prior year, the company posted $1.06 earnings per share. Analysts predict that Main Street Capital Co. will post 4.08 earnings per share for the current fiscal year.

Main Street Capital Dividend Announcement

The firm also recently declared a dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 20th will be paid a $0.30 dividend. The ex-dividend date is Friday, September 20th. Main Street Capital’s dividend payout ratio is currently 53.65%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Oppenheimer increased their price objective on Main Street Capital from $43.00 to $44.00 and gave the stock a “market perform” rating in a report on Tuesday, August 13th. Truist Financial lifted their price target on shares of Main Street Capital from $45.00 to $52.00 and gave the company a “hold” rating in a research report on Monday, May 13th. Royal Bank of Canada restated an “outperform” rating and issued a $52.00 price objective on shares of Main Street Capital in a report on Wednesday, August 14th. Finally, B. Riley lifted their target price on shares of Main Street Capital from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.40.

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.