Bank of New York Mellon Corp Purchases 10,625 Shares of Main Street Capital Co. (NYSE:MAIN)

Bank of New York Mellon Corp boosted its stake in shares of Main Street Capital Co. (NYSE:MAIN) by 56.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 29,316 shares of the financial services provider’s stock after acquiring an additional 10,625 shares during the period. Bank of New York Mellon Corp’s holdings in Main Street Capital were worth $1,717,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Asset Planning Inc purchased a new stake in shares of Main Street Capital during the 4th quarter valued at $29,000. Truvestments Capital LLC acquired a new position in shares of Main Street Capital in the 3rd quarter valued at $39,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Main Street Capital in the 3rd quarter valued at $50,000. AdvisorNet Financial Inc grew its position in Main Street Capital by 145.8% during the 4th quarter. AdvisorNet Financial Inc now owns 1,229 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 729 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in Main Street Capital by 37.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,831 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Main Street Capital Trading Down 0.3 %

Shares of Main Street Capital stock opened at $57.62 on Friday. 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 firm’s 50-day moving average price is $59.80 and its 200 day moving average price is $55.43. Main Street Capital Co. has a twelve month low of $45.00 and a twelve month high of $63.32. The firm has a market capitalization of $5.10 billion, a PE ratio of 10.44 and a beta of 1.26.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings data on Thursday, February 27th. The financial services provider reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). The business had revenue of $140.44 million during the quarter, compared to analyst estimates of $141.40 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. On average, sell-side analysts predict that Main Street Capital Co. will post 4.11 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The company also recently announced a dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, March 21st will be issued a dividend of $0.30 per share. This represents a yield of 7.11%. This is a boost from Main Street Capital’s previous dividend of $0.25. The ex-dividend date is Thursday, March 20th. Main Street Capital’s dividend payout ratio (DPR) is 51.37%.

Wall Street Analysts Forecast Growth

Separately, Truist Financial raised their target price on Main Street Capital from $52.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, March 3rd.

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.