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

Bank of New York Mellon Corp grew its holdings in Main Street Capital Co. (NYSE:MAIN) by 56.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,316 shares of the financial services provider’s stock after purchasing 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 institutional investors and hedge funds have also modified their holdings of the company. Asset Planning Inc bought a new stake in shares of Main Street Capital in the 4th quarter worth $29,000. Truvestments Capital LLC purchased a new position in Main Street Capital during the third quarter valued at $39,000. Wilmington Savings Fund Society FSB purchased a new position in Main Street Capital during the third quarter valued at $50,000. AdvisorNet Financial Inc lifted its position in Main Street Capital by 145.8% during the fourth quarter. AdvisorNet Financial Inc now owns 1,229 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 729 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in Main Street Capital by 37.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,831 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 20.31% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Truist Financial lifted 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 Price Performance

NYSE:MAIN 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 company has a market capitalization of $5.10 billion, a P/E ratio of 10.44 and a beta of 1.26. Main Street Capital Co. has a 12 month low of $45.00 and a 12 month high of $63.32. The business’s 50-day moving average is $59.80 and its 200 day moving average is $55.43.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings data on Thursday, February 27th. The financial services provider reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.06). Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The company had revenue of $140.44 million for the quarter, compared to the consensus estimate of $141.40 million. On average, equities research analysts forecast that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

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

Main Street Capital Company 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.