Sumitomo Mitsui Trust Group Inc. Raises Position in Main Street Capital Co. (NYSE:MAIN)

Sumitomo Mitsui Trust Group Inc. grew its position in Main Street Capital Co. (NYSE:MAIN) by 9.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 209,924 shares of the financial services provider’s stock after buying an additional 18,059 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Main Street Capital worth $10,526,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Callahan Advisors LLC grew its position in Main Street Capital by 1.3% during the second quarter. Callahan Advisors LLC now owns 15,429 shares of the financial services provider’s stock valued at $779,000 after buying an additional 200 shares during the period. PFG Investments LLC lifted its holdings in shares of Main Street Capital by 1.8% in the second quarter. PFG Investments LLC now owns 12,557 shares of the financial services provider’s stock worth $634,000 after buying an additional 227 shares in the last quarter. Segment Wealth Management LLC raised its stake in Main Street Capital by 0.7% during the third quarter. Segment Wealth Management LLC now owns 43,512 shares of the financial services provider’s stock valued at $2,182,000 after purchasing an additional 287 shares in the last quarter. Harbour Investments Inc. raised its stake in Main Street Capital by 13.5% during the second quarter. Harbour Investments Inc. now owns 2,868 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 342 shares in the last quarter. Finally, Milestone Asset Management LLC raised its stake in Main Street Capital by 5.8% during the second quarter. Milestone Asset Management LLC now owns 6,515 shares of the financial services provider’s stock valued at $329,000 after purchasing an additional 356 shares in the last quarter. 20.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MAIN. Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 price objective on shares of Main Street Capital in a research report on Wednesday, August 14th. Oppenheimer increased their price target on shares of Main Street Capital from $43.00 to $44.00 and gave the company a “market perform” rating in a research report on Tuesday, August 13th. Finally, 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 research report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Main Street Capital has a consensus rating of “Hold” and a consensus target price of $48.80.

Main Street Capital Price Performance

NYSE:MAIN opened at $52.16 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.07. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 9.45 and a beta of 1.29. The company has a 50 day moving average price of $50.90 and a 200-day moving average price of $50.14. Main Street Capital Co. has a 1-year low of $40.51 and a 1-year high of $52.89.

Main Street Capital Increases Dividend

The company 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 5.75%. This is a positive change from Main Street Capital’s previous monthly dividend of $0.25. The ex-dividend date is Friday, March 7th. Main Street Capital’s payout ratio is 53.26%.

Main Street Capital 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.