Paradiem LLC Grows Position in Main Street Capital Co. (NYSE:MAIN)

Paradiem LLC raised its holdings in shares of Main Street Capital Co. (NYSE:MAIN) by 53.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 183,490 shares of the financial services provider’s stock after purchasing an additional 63,928 shares during the quarter. Main Street Capital makes up approximately 2.2% of Paradiem LLC’s portfolio, making the stock its 11th largest holding. Paradiem LLC owned 0.22% of Main Street Capital worth $7,932,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MAIN. Burgundy Asset Management Ltd. lifted its holdings in shares of Main Street Capital by 2.1% in the third quarter. Burgundy Asset Management Ltd. now owns 1,020,535 shares of the financial services provider’s stock worth $41,464,000 after buying an additional 21,085 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Main Street Capital by 12.4% in the third quarter. Van ECK Associates Corp now owns 805,063 shares of the financial services provider’s stock worth $32,709,000 after buying an additional 88,802 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Main Street Capital by 1.4% in the third quarter. Legal & General Group Plc now owns 588,490 shares of the financial services provider’s stock worth $23,902,000 after buying an additional 8,091 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in shares of Main Street Capital by 2.0% in the fourth quarter. Sound Income Strategies LLC now owns 351,983 shares of the financial services provider’s stock worth $15,216,000 after buying an additional 6,855 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. lifted its holdings in shares of Main Street Capital by 20.1% in the third quarter. Adell Harriman & Carpenter Inc. now owns 274,615 shares of the financial services provider’s stock worth $11,158,000 after buying an additional 46,010 shares in the last quarter. 20.31% of the stock is owned by hedge funds and other institutional investors.

Main Street Capital Trading Up 0.9 %

NYSE:MAIN traded up $0.45 during trading hours on Friday, hitting $49.13. The company had a trading volume of 268,100 shares, compared to its average volume of 298,311. The company has a market capitalization of $4.18 billion, a PE ratio of 9.41 and a beta of 1.29. The stock has a 50-day moving average price of $46.59 and a 200 day moving average price of $43.82. Main Street Capital Co. has a 52 week low of $37.70 and a 52 week high of $49.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.09 and a quick ratio of 0.09.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.06. The business had revenue of $129.31 million for the quarter, compared to analysts’ expectations of $125.52 million. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. On average, equities research analysts predict that Main Street Capital Co. will post 4.07 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 20th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, March 19th. This represents a yield of 8.37%. This is a positive change from Main Street Capital’s previous dividend of $0.24. Main Street Capital’s dividend payout ratio (DPR) is currently 55.17%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MAIN shares. B. Riley downgraded shares of Main Street Capital from a “buy” rating to a “neutral” rating and set a $47.00 target price on the stock. in a research note on Monday, January 8th. Oppenheimer raised their target price on shares of Main Street Capital from $41.00 to $43.00 and gave the company a “market perform” rating in a research note on Monday, February 26th. Truist Financial raised their target price on shares of Main Street Capital from $43.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, February 26th. Royal Bank of Canada raised their target price on shares of Main Street Capital from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Finally, UBS Group raised their target price on shares of Main Street Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Main Street Capital currently has a consensus rating of “Hold” and an average price target of $45.50.

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.