Main Street Capital Co. (NYSE:MAIN) Shares Sold by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC lowered its stake in shares of Main Street Capital Co. (NYSE:MAIN) by 66.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,000 shares of the financial services provider’s stock after selling 10,000 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in Main Street Capital were worth $252,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Main Street Capital by 2.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,435,508 shares of the financial services provider’s stock worth $148,518,000 after buying an additional 71,698 shares during the period. Van ECK Associates Corp raised its stake in shares of Main Street Capital by 14.0% during the second quarter. Van ECK Associates Corp now owns 1,150,095 shares of the financial services provider’s stock valued at $58,069,000 after purchasing an additional 141,312 shares in the last quarter. Burgundy Asset Management Ltd. raised its stake in shares of Main Street Capital by 1.4% during the first quarter. Burgundy Asset Management Ltd. now owns 1,089,159 shares of the financial services provider’s stock valued at $51,528,000 after purchasing an additional 15,392 shares in the last quarter. Adell Harriman & Carpenter Inc. grew its position in Main Street Capital by 26.9% in the 2nd quarter. Adell Harriman & Carpenter Inc. now owns 405,210 shares of the financial services provider’s stock valued at $20,459,000 after buying an additional 85,995 shares in the last quarter. Finally, Sound Income Strategies LLC increased its stake in Main Street Capital by 2.2% during the 1st quarter. Sound Income Strategies LLC now owns 359,773 shares of the financial services provider’s stock valued at $17,021,000 after buying an additional 7,790 shares during the period. 20.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MAIN has been the subject of a number of research analyst reports. Oppenheimer upped their price target on shares of Main Street Capital from $43.00 to $44.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $52.00 price target on shares of Main Street Capital in a research note on Wednesday, August 14th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $48.40.

Main Street Capital Price Performance

NYSE MAIN opened at $49.95 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.07 and a current ratio of 0.07. Main Street Capital Co. has a 1 year low of $37.70 and a 1 year high of $52.39. The stock has a market capitalization of $4.28 billion, a P/E ratio of 9.11 and a beta of 1.30. The business’s fifty day moving average is $49.85 and its two-hundred day moving average is $48.85.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, August 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.01. Main Street Capital had a net margin of 87.58% and a return on equity of 14.41%. The business had revenue of $132.15 million for the quarter, compared to analyst estimates of $132.62 million. During the same quarter in the previous year, the business earned $1.06 earnings per share. On average, research analysts forecast that Main Street Capital Co. will post 4.13 earnings per share for the current fiscal year.

Main Street Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 8th will be given a dividend of $0.30 per share. This represents a $3.60 annualized dividend and a yield of 7.21%. The ex-dividend date is Tuesday, October 8th. Main Street Capital’s payout ratio is presently 53.65%.

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.