Trade Report: Today, Advisors Asset Management Inc. Buys 14,627 Shares of Main Street Capital Corp. (MAIN)

Today, Advisors Asset Management Inc. Buys 14,627 Shares of Main Street Capital Corp. (MAIN)

Advisors Asset Management Inc. increased its position in Main Street Capital Corp. (NYSE:MAIN) by 123.4% during the third quarter, Holdings Channel reports. The firm owned 26,482 shares of the company’s stock after buying an additional 14,627 shares during the period. Advisors Asset Management Inc. owned 0.05% of Main Street Capital Corp. worth $909,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Macquarie Group Ltd. boosted its stake in shares of Main Street Capital Corp. by 2.6% in the second quarter. Macquarie Group Ltd. now owns 997,168 shares of the company’s stock worth $32,757,000 after buying an additional 25,286 shares during the period. Muzinich & Co. Inc. boosted its stake in shares of Main Street Capital Corp. by 83.7% in the third quarter. Muzinich & Co. Inc. now owns 656,599 shares of the company’s stock worth $22,541,000 after buying an additional 299,236 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of Main Street Capital Corp. by 1,050.0% in the third quarter. State of New Jersey Common Pension Fund D now owns 575,000 shares of the company’s stock worth $19,740,000 after buying an additional 525,000 shares during the period. Bank of Montreal Can boosted its stake in shares of Main Street Capital Corp. by 124.0% in the third quarter. Bank of Montreal Can now owns 451,617 shares of the company’s stock worth $15,504,000 after buying an additional 250,000 shares during the period. Finally, Royal Bank of Canada boosted its stake in shares of Main Street Capital Corp. by 0.5% in the second quarter. Royal Bank of Canada now owns 435,181 shares of the company’s stock worth $14,297,000 after buying an additional 2,153 shares during the period. Hedge funds and other institutional investors own 27.14% of the company’s stock.

Shares of Main Street Capital Corp. (NYSE:MAIN) traded up 1.12% on Thursday, hitting $36.14. The stock had a trading volume of 269,352 shares. The firm has a market cap of $1.92 billion, a PE ratio of 18.80 and a beta of 1.04. The firm’s 50-day moving average price is $34.49 and its 200 day moving average price is $33.58. Main Street Capital Corp. has a 52-week low of $24.21 and a 52-week high of $36.95.

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 13th. Stockholders of record on Friday, December 30th will be paid a $0.185 dividend. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $2.22 dividend on an annualized basis and a dividend yield of 6.14%. Main Street Capital Corp.’s payout ratio is presently 116.84%.

A number of equities research analysts recently weighed in on MAIN shares. Zacks Investment Research cut Main Street Capital Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. RBC Capital Markets restated an “outperform” rating and set a $35.00 price objective (up from $32.00) on shares of Main Street Capital Corp. in a research note on Saturday, August 13th. FBR & Co upped their price objective on Main Street Capital Corp. from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 10th. Wunderlich upped their price objective on Main Street Capital Corp. from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Finally, National Securities reiterated a “neutral” rating and issued a $33.00 price target on shares of Main Street Capital Corp. in a research note on Wednesday, August 10th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Main Street Capital Corp. currently has a consensus rating of “Buy” and a consensus price target of $36.29.

Main Street Capital Corp. Company Profile

Main Street Capital Corporation (MSCC) is a principal investment firm. MSCC is primarily focused on providing customized debt and equity financing to lower middle market (LMM) companies and debt capital to middle market (Middle Market) companies. The Company’s portfolio investments are made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in various industry sectors.

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