Wambolt & Associates LLC Trims Stock Holdings in Main Street Capital Co. (NYSE:MAIN)

Wambolt & Associates LLC cut its holdings in shares of Main Street Capital Co. (NYSE:MAIN) by 11.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 75,205 shares of the financial services provider’s stock after selling 9,656 shares during the quarter. Main Street Capital makes up approximately 1.4% of Wambolt & Associates LLC’s portfolio, making the stock its 18th biggest holding. Wambolt & Associates LLC’s holdings in Main Street Capital were worth $4,406,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in shares of Main Street Capital during the fourth quarter worth about $10,460,000. Benjamin Edwards Inc. raised its stake in Main Street Capital by 971.3% during the third quarter. Benjamin Edwards Inc. now owns 141,165 shares of the financial services provider’s stock valued at $7,078,000 after buying an additional 127,988 shares in the last quarter. Morgan Dempsey Capital Management LLC bought a new position in Main Street Capital during the 4th quarter worth approximately $6,007,000. Van ECK Associates Corp increased its holdings in shares of Main Street Capital by 7.8% in the 4th quarter. Van ECK Associates Corp now owns 1,288,309 shares of the financial services provider’s stock valued at $75,469,000 after acquiring an additional 92,833 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Main Street Capital during the 4th quarter valued at approximately $2,626,000. 20.31% of the stock is owned by institutional investors and hedge funds.

Main Street Capital Stock Up 1.9 %

NYSE:MAIN opened at $58.62 on Tuesday. 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 stock has a 50 day moving average of $59.82 and a 200-day moving average of $55.54. The firm has a market capitalization of $5.19 billion, a PE ratio of 10.62 and a beta of 1.26. Main Street Capital Co. has a 52 week low of $45.00 and a 52 week high of $63.32.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.06). Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The firm had revenue of $140.44 million for the quarter, compared to analyst estimates of $141.40 million. Analysts predict that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

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

Analyst Upgrades and Downgrades

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

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.