Raymond James & Associates Purchases 11,646 Shares of Main Street Capital Co. (NYSE:MAIN)

Raymond James & Associates grew its holdings in Main Street Capital Co. (NYSE:MAIN) by 24.3% during the 3rd quarter, Holdings Channel reports. The firm owned 59,500 shares of the financial services provider’s stock after purchasing an additional 11,646 shares during the period. Raymond James & Associates’ holdings in Main Street Capital were worth $2,983,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. raised its stake in Main Street Capital by 40.2% during the 3rd quarter. Blue Trust Inc. now owns 5,479 shares of the financial services provider’s stock worth $277,000 after buying an additional 1,571 shares during the period. Capital Investment Advisors LLC boosted its holdings in Main Street Capital by 1.1% during the third quarter. Capital Investment Advisors LLC now owns 52,608 shares of the financial services provider’s stock worth $2,638,000 after purchasing an additional 567 shares during the last quarter. Accurate Wealth Management LLC acquired a new position in Main Street Capital during the third quarter valued at approximately $908,000. Naviter Wealth LLC grew its stake in shares of Main Street Capital by 10.9% in the third quarter. Naviter Wealth LLC now owns 61,403 shares of the financial services provider’s stock valued at $3,079,000 after buying an additional 6,026 shares in the last quarter. Finally, Transform Wealth LLC bought a new position in shares of Main Street Capital in the 3rd quarter valued at about $218,000. Institutional investors and hedge funds own 20.31% of the company’s stock.

Wall Street Analysts Forecast Growth

MAIN has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $52.00 target price on shares of Main Street Capital in a report on Wednesday, August 14th. Oppenheimer boosted their price objective on Main Street Capital from $43.00 to $44.00 and gave the stock a “market perform” rating in a report on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $48.40.

Main Street Capital Trading Down 1.4 %

MAIN stock opened at $49.95 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.07 and a current ratio of 0.07. The company has a market capitalization of $4.35 billion, a PE ratio of 9.34 and a beta of 1.29. Main Street Capital Co. has a 52 week low of $39.87 and a 52 week high of $52.62. The company’s 50-day simple moving average is $50.42 and its 200 day simple moving average is $49.95.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings data on Thursday, August 8th. The financial services provider reported $1.01 EPS for the quarter, hitting analysts’ consensus estimates of $1.01. The firm had revenue of $132.15 million for the quarter, compared to analyst estimates of $132.62 million. Main Street Capital had a return on equity of 14.06% and a net margin of 87.58%. During the same quarter last year, the company earned $1.06 EPS. As a group, sell-side analysts anticipate that Main Street Capital Co. will post 4.12 earnings per share for the current year.

Main Street Capital Dividend Announcement

The company also recently disclosed a dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 23rd were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a yield of 7.66%. Main Street Capital’s payout ratio is 54.95%.

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.