Last $29.89 USD
Change Today -0.24 / -0.80%
Volume 117.0K
MAIN On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

main street capital corp (MAIN) Snapshot

Open
$30.18
Previous Close
$30.13
Day High
$30.23
Day Low
$29.89
52 Week High
01/16/14 - $35.08
52 Week Low
10/15/14 - $26.17
Market Cap
1.3B
Average Volume 10 Days
273.7K
EPS TTM
$2.07
Shares Outstanding
44.9M
EX-Date
12/29/14
P/E TM
14.5x
Dividend
$2.04
Dividend Yield
8.53%
Current Stock Chart for MAIN STREET CAPITAL CORP (MAIN)

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main street capital corp (MAIN) Details

Main Street Capital Corporation is a business development company specializing in long- term equity, equity related, and debt investments in small and lower middle market companies. The firm focuses on investments in warrants, PIK (Payment in Kind) interest, convertible securities, junior secured or unsecured, subordinated loans, private equity, venture debt, mezzanine investments, mature, mid venture, industry consolidation, later stage, late venture, emerging growth, management buyouts, ownership transitions, recapitalizations, strategic acquisitions, business expansion, growth financings, and other growth initiatives primarily for later stage businesses. It does not seek to invest in start-up companies or companies with speculative business plans. It seeks to invest in traditional or basic businesses. The firm primarily invests in companies based in the Southern, South Central, and Southwestern regions of the United States but also considers other domestic investment opportunities. It invests between $2 million and $15 million in companies with revenues between $5 million and $300 million, enterprise values between $3 million and $50 million, and EBITDA between $1 million and $20 million. The firm seeks to charge a fixed interest rate between 12 percent and 14 percent, payable in cash, in case of its mezzanine loan investments. The firm typically invests in the form of term debt with equity participation and/or direct equity investments. It prefers to maintain fully diluted equity positions in its portfolio companies of 5 percent to 50 percent, and may have controlling interests in some instances. The firm also co-invests with other investment firms. It seeks to exit its debt investments through the repayment of the investment from internally generated cash flow and/or refinancing within a period of three to seven years. Main Street Capital Corporation was founded in 1997 and is based at Houston, Texas.

37 Employees
Last Reported Date: 05/7/14
Founded in 1997

main street capital corp (MAIN) Top Compensated Officers

Chairman, Chief Executive Officer, President,...
Total Annual Compensation: $1.5M
Chief Operating Officer, Senior Managing Dire...
Total Annual Compensation: $877.5K
Chief Investment Officer, Senior Managing Dir...
Total Annual Compensation: $736.3K
Chief Credit Officer, Senior Managing Directo...
Total Annual Compensation: $661.3K
Chief Compliance Officer, Senior Vice Preside...
Total Annual Compensation: $600.0K
Compensation as of Fiscal Year 2013.

main street capital corp (MAIN) Key Developments

Main Street Announces Increase in Commitments Under its Credit Facility to $572.5 Million

Main Street Capital Corporation announced the expansion of total commitments under its five-year credit facility from $522.5 million to $572.5 million. The $50.0 million increase in total commitments was the result of the addition of a new lender relationship, which further diversifies the Main Street lending group under the Credit Facility to a total of fifteen participants. The recent increase in total commitments was executed under the accordion feature of the Credit Facility which allows for an increase in total commitments under the facility up to $650.0 million from new and existing lenders on the same terms and conditions as the existing commitments.

Main Street Capital Corporation Announces Management Changes

Main Street Capital Corporation announced that its Board of Directors promoted Dwayne L. Hyzak to Chief Operating Officer and Senior Managing Director and Brent D. Smith to Chief Financial Officer and Treasurer, effective immediately. Mr. Hyzak has served as Main Street's Chief Financial Officer and Senior Managing Director since 2011 and as its Treasurer since 2012. Mr. Hyzak also serves as a member of Main Street's investment committee. Previously, he served as Main Street's Senior Vice President-Finance since 2011, as one of its Senior Vice Presidents since 2007 and was a co-founder of Main Street. Mr. Smith has served as Main Street's Senior Vice President-Finance since August 2014. Previously he served as the Executive Vice-President, Chief Financial Officer and Treasurer of a publicly traded energy services company from 2010 through June 2014 and in various finance and accounting roles at the company from 2005 through 2010.

Main Street Capital Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Main Street Capital Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the third quarter ended September 30, 2014, total investment income was $36.4 million, a 23% increase over the $29.7 million of total investment income for the corresponding period of 2013. This comparable period increase was principally attributable to (i) a $2.9 million increase in interest income primarily from higher average levels of portfolio debt investments, (ii) a $2.6 million increase in dividend income from investment portfolio equity investments and (iii) a $1.4 million increase in fee income due to increases in investment, refinancing and prepayment activity from investment portfolio debt investments. The $6.7 million increase in total investment income in the third quarter ended September 30, 2014 includes (i) $0.4 million of special dividend income activity during the period and (ii) a $0.2 million net increase in the amount of total investment income related to accelerated prepayment and repricing activity for certain investment portfolio debt investments when compared to the same period in 2013. Net investment income was $24.887 million or $0.55 per basic and diluted share against $17.477 million or $0.47 per basic and diluted share a year ago. Net realized income was $40.597 million or $0.90 per basic and diluted share against $9.705 million or $0.26 per basic and diluted share a year ago. Net increase in net assets resulting from operations was $21.569 million or $0.48 per basic and diluted share against $28.054 million or $0.76 per basic and diluted share a year ago. Net asset value per share increased to $21.08 per share. For the nine months, the company reported total investment income was $102.004 million against $83.104 million a year ago. Net investment income was $69.206 million or $1.61 per basic and diluted share against $52.593 million or $1.48 per basic and diluted share a year ago. Net realized income was $79.995 million or $1.86 per basic and diluted share against $45.224 million or $1.27 per basic and diluted share a year ago. Net increase in net assets resulting from operations was $78.754 million or $1.83 per basic and diluted share against $75.688 million or $2.13 per basic and diluted share a year ago.

 

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Industry Analysis

MAIN

Industry Average

Valuation MAIN Industry Range
Price/Earnings 12.6x
Price/Sales 9.9x
Price/Book 1.4x
Price/Cash Flow 13.4x
TEV/Sales 5.3x
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