Main Street Capital (NYSE:MAIN) Hits New 12-Month High – Should You Buy?

Shares of Main Street Capital Co. (NYSE:MAIN) hit a new 52-week high on Tuesday . The stock traded as high as $56.87 and last traded at $56.85, with a volume of 59692 shares. The stock had previously closed at $56.44.

Analyst Upgrades and Downgrades

Separately, B. Riley boosted their price objective on shares of Main Street Capital from $49.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Main Street Capital currently has an average rating of “Hold” and a consensus target price of $48.80.

Main Street Capital Stock Up 0.9 %

The company has a market cap of $5.02 billion, a P/E ratio of 10.32 and a beta of 1.30. 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 company’s 50-day moving average is $53.39 and its two-hundred day moving average is $51.19.

Main Street Capital Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 20th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, December 20th. Main Street Capital’s dividend payout ratio (DPR) is presently 53.26%.

Hedge Funds Weigh In On Main Street Capital

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James & Associates increased its stake in shares of Main Street Capital by 1.8% in the second quarter. Raymond James & Associates now owns 47,854 shares of the financial services provider’s stock worth $2,416,000 after purchasing an additional 826 shares in the last quarter. Raymond James Trust N.A. bought a new position in Main Street Capital in the 2nd quarter worth approximately $348,000. Bank of New York Mellon Corp raised its position in shares of Main Street Capital by 7.3% during the second quarter. Bank of New York Mellon Corp now owns 17,094 shares of the financial services provider’s stock valued at $863,000 after buying an additional 1,169 shares during the last quarter. Harbour Investments Inc. boosted its position in shares of Main Street Capital by 13.5% during the second quarter. Harbour Investments Inc. now owns 2,868 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 342 shares during the last quarter. Finally, Callahan Advisors LLC increased its holdings in Main Street Capital by 1.3% in the 2nd quarter. Callahan Advisors LLC now owns 15,429 shares of the financial services provider’s stock valued at $779,000 after acquiring an additional 200 shares during the last quarter. 20.31% of the stock is owned by institutional investors.

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.