Franklin Resources Inc. Acquires 35,227 Shares of Main Street Capital Co. (NYSE:MAIN)

Franklin Resources Inc. increased its holdings in Main Street Capital Co. (NYSE:MAIN) by 19.3% in the third quarter, Holdings Channel.com reports. The firm owned 217,461 shares of the financial services provider’s stock after acquiring an additional 35,227 shares during the period. Franklin Resources Inc.’s holdings in Main Street Capital were worth $11,119,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC boosted its position in Main Street Capital by 238.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 34,020 shares of the financial services provider’s stock valued at $1,718,000 after buying an additional 23,970 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake 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 valued at $10,526,000 after acquiring an additional 18,059 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Main Street Capital by 188.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 20,176 shares of the financial services provider’s stock valued at $1,012,000 after acquiring an additional 13,177 shares during the last quarter. Muzinich & Co. Inc. boosted its holdings in Main Street Capital by 9.3% during the 3rd quarter. Muzinich & Co. Inc. now owns 212,384 shares of the financial services provider’s stock valued at $10,649,000 after acquiring an additional 18,059 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new position in Main Street Capital in the 3rd quarter worth approximately $1,029,000. Institutional investors own 20.31% of the company’s stock.

Main Street Capital Trading Up 0.9 %

Shares of NYSE MAIN opened at $56.40 on Friday. Main Street Capital Co. has a 1 year low of $42.53 and a 1 year high of $56.87. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a 50-day moving average of $53.29 and a 200 day moving average of $51.12. The stock has a market cap of $4.97 billion, a P/E ratio of 10.22 and a beta of 1.30.

Main Street Capital Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, B. Riley raised their target price on shares of Main Street Capital from $49.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Main Street Capital has an average rating of “Hold” and an average target price of $48.80.

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.