Main Street Capital (NYSE:MAIN) Reaches New 12-Month High – Still a Buy?

Main Street Capital Co. (NYSE:MAIN)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $56.87 and last traded at $56.85, with a volume of 59692 shares. The stock had previously closed at $56.44.

Analyst Upgrades and Downgrades

Separately, B. Riley raised their target price 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. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $48.80.

Main Street Capital Stock Performance

The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. The stock has a market cap of $5.02 billion, a P/E ratio of 10.32 and a beta of 1.30. The business has a 50 day moving average price of $53.39 and a 200 day moving average price of $51.19.

Main Street Capital Announces Dividend

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

Institutional Investors Weigh In On Main Street Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its stake in shares of Main Street Capital by 19.3% during the third quarter. Franklin Resources Inc. now owns 217,461 shares of the financial services provider’s stock valued at $11,119,000 after acquiring an additional 35,227 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its position in Main Street Capital by 238.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 34,020 shares of the financial services provider’s stock valued at $1,718,000 after purchasing an additional 23,970 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Main Street Capital by 9.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 209,924 shares of the financial services provider’s stock worth $10,526,000 after buying an additional 18,059 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Main Street Capital by 188.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 20,176 shares of the financial services provider’s stock worth $1,012,000 after buying an additional 13,177 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Main Street Capital during the third quarter valued at $1,029,000. Institutional investors own 20.31% of the company’s stock.

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.