Welcome to our dedicated page for Main Street Capital Corporation news (Ticker: MAIN), a resource for investors and traders seeking the latest updates and insights on Main Street Capital Corporation stock.
Main Street Capital Corporation (NYSE: MAIN) is a principal investment firm that provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies. The company's portfolio investments typically support management buyouts, recapitalizations, growth financings, refinancings, and acquisitions across various industry sectors. Main Street's lower middle market investments target companies with annual revenues between $10 million and $150 million, offering a 'one-stop' financing solution for entrepreneurs, business owners, and management teams. In contrast, its middle market investments focus on larger businesses.
Recent milestones include:
- In Q4 2023, Main Street reported new or increased commitments in its private loan portfolio amounting to $136.8 million, with investments totaling $160.4 million, bringing the private loan portfolio to around $1.5 billion across 87 unique borrowers.
- Preliminary Q4 2023 results show a record net investment income per share, a new high for net asset value per share for the sixth consecutive quarter, and a return on equity exceeding 22% for the quarter.
- For the full year 2023, Main Street achieved a 19% return on equity, with distributable net investment income per share setting annual records.
Strategic partnerships and diversified investment strategies have enabled Main Street to maintain a conservative capital structure while delivering significant shareholder value. In January 2024, the company issued $350 million in unsecured notes at 6.95%, further solidifying its financial foundation.
Main Street also manages external investments through its wholly-owned subsidiary MSC Adviser I, LLC, which is registered as an investment adviser. This asset management business, which ended 2023 with $1.5 billion in assets under management, contributes substantially to the company's net investment income.
Main Street's robust pipeline and strong performance trends indicate ongoing growth and value creation for stakeholders. For more information, visit the company's website at www.mainstcapital.com.
Rhea-AI Summary
Main Street Capital Corporation (MAIN) executives to participate in key financial conferences in February and March 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.92%
Tags
-
Rhea-AI Summary
Main Street Capital Corporation (MAIN) announces regular monthly dividends of $0.24 per share for April, May, and June 2024, along with a supplemental dividend of $0.30 per share payable in March 2024. These dividends mark a 6.7% increase from the previous year and reflect Main Street's consistent dividend growth since its IPO in 2007.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
-
Rhea-AI Summary
Main Street Capital Corporation invests $12.8 million in a leading dental service organization in the Midwestern U.S. to facilitate recapitalization. The Company operates multiple dental offices with a focus on urgent and general care, emphasizing same-day or next-day care.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
Rhea-AI Summary
Main Street Capital Corporation (MAIN) announces its preliminary operating results for the fourth quarter of 2023, federal tax treatment of its dividends paid in 2023, and its fourth quarter and full year 2023 earnings release and conference call schedule. The company reported record-breaking financial metrics, with net investment income per share, distributable net investment income per share, and net asset value per share reaching all-time highs. The estimated return on equity for the fourth quarter was over 22%, with an annual return of approximately 19%. Main Street also achieved a 25% increase in total dividends paid to shareholders in 2023, exceeding the monthly dividends by over 55% for both the fourth quarter and the year. The company also plans to pay a meaningful supplemental dividend in the first quarter of 2024, marking its tenth consecutive quarterly supplemental dividend. Despite the increase in dividends, Main Street's estimated distributable net investment income exceeded the total dividends paid to shareholders by over 13% for the fourth quarter and over 17% for the year.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.07%
Tags
-
Rhea-AI Summary
Main Street Capital Corporation (MAIN) reported a strong fourth quarter with $136.8 million in new private loan commitments and $160.4 million in total investments across its private loan portfolio. The company made notable investments in various industries, including defense systems, plastic products, language services, premium ice cream, futures trading, industrial cleaning, and aviation ground services. As of December 31, 2023, Main Street's private loan portfolio included total investments at cost of approximately $1.5 billion across 87 unique borrowers, with 94.7% invested in first lien debt investments and 5.3% in equity investments or other securities.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.16%
Tags
-
Rhea-AI Summary
Main Street Capital Corporation (MAIN) announces a $350 million public offering of 6.95% notes due 2029, with net proceeds intended for debt repayment and investment purposes.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.21%
Tags
Rhea-AI Summary
Main Street Capital Corporation (NYSE: MAIN) recently completed a $14.9 million first lien, senior secured term debt investment and a $0.5 million direct equity investment in Johnson Downie Opco, LLC. The investment aims to support the Company's organic and inorganic growth initiatives, expanding its geographic and market coverage to other legal firms and locations. Johnson Downie, founded in 2006 and based in Houston, Texas, specializes in retained, exclusive partner-level recruiting engagements for elite law firms, having launched over 25 law firm offices and placed more than 1,000 law firm partners over the past decade.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.09%
Tags
-
Rhea-AI Summary
Main Street Capital Corporation (NYSE: MAIN) invested $43.2 million in Pinnacle Topco, LLC, a manufacturer and distributor of commercial can liners, polyethylene bags, produce bags, and other adjacent products for use predominantly in the quick-service restaurant, convenience store, and janitorial services industries.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.7%
Tags
-
Rhea-AI Summary
Main Street Capital Corporation (MAIN) has invested $24.7 million in Compass Systems & Sales, LLC to facilitate the recapitalization of the leading provider of end-to-end material handling systems. The investment includes a combination of first lien, senior secured term debt and a direct equity investment. Compass, founded in 1998 and headquartered in Barberton, Ohio, offers a wide range of material handling solutions and has established itself as a market leader in pneumatic and mechanical conveyance solutions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.02%
Tags
Rhea-AI Summary
Main Street Capital Corporation (NYSE: MAIN) announces its financial results for Q3 2023. Net investment income was $82.2 million ($0.99 per share), distributable net investment income was $86.2 million ($1.04 per share), and net asset value was $28.33 per share. The company reported a return on equity of 17.9% for the quarter. Total investment income was $123.2 million. Regular monthly dividends for Q4 2023 were declared at $0.705 per share, representing a 6.8% increase from Q4 2022. A supplemental dividend of $0.275 per share was also declared.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.22%
Tags
FAQ
What is the current stock price of Main Street Capital Corporation (MAIN)?
The current stock price of Main Street Capital Corporation (MAIN) is $56.4 as of December 20, 2024.
What is the market cap of Main Street Capital Corporation (MAIN)?
The market cap of Main Street Capital Corporation (MAIN) is approximately 4.9B.
What does Main Street Capital Corporation do?
Main Street Capital Corporation provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies.
What types of investments does Main Street Capital make?
The company invests in management buyouts, recapitalizations, growth financings, refinancings, and acquisitions across diverse industry sectors.
What is the typical size of companies in Main Street’s lower middle market portfolio?
Main Street’s lower middle market companies generally have annual revenues between $10 million and $150 million.
How did Main Street perform financially in recent quarters?
Main Street reported record net investment income per share and net asset value per share for the fourth quarter of 2023, with a return on equity exceeding 22%.
What recent financial activities has Main Street Capital undertaken?
In January 2024, Main Street issued $350 million in unsecured notes at 6.95% to strengthen its financial position.
How does Main Street manage external investments?
Through its wholly-owned subsidiary MSC Adviser I, LLC, Main Street manages external investments and ended 2023 with $1.5 billion in assets under management.
How often does Main Street Capital Corporation pay dividends?
Main Street pays regular monthly cash dividends and has declared supplemental dividends based on its strong financial performance.
Where can I find more information about Main Street Capital Corporation?
More information can be found on Main Street's website at www.mainstcapital.com.
Who can I contact for investor relations inquiries?
For investor relations inquiries, contact Dwayne L. Hyzak, CEO, at dhyzak@mainstcapital.com or Jesse E. Morris, CFO and COO, at jmorris@mainstcapital.com.
What is Main Street’s strategy to maintain growth?
Main Street focuses on diversified investment strategies, conservative capital structures, and strong partnerships to sustain growth and deliver shareholder value.
Main Street Capital Corporation
NYSE:MAIN
MAIN Rankings
MAIN Stock Data
4.92B
84.46M
4.09%
22.67%
4.04%
Asset Management
Financial Services
United States of America
HOUSTON