5 Monthly Dividend Stocks to Buy in May

4. Main Street Capital Corporation (NYSE:MAIN)

Number of Hedge Fund Holders: 9

Dividend Yield (as of April 29): 6.41%

Main Street Capital Corporation (NYSE:MAIN) is a Texas-based business development company which offers capital to lower middle market companies in return for stakes or debt offerings. It also offers services such as management buyouts, refinancing, family estate planning and recapitalizations. On April 29, Main Street Capital Corporation (NYSE:MAIN) declared $0.215 per share in quarterly dividend, which was in-line with previous. This brings the firm’s dividend yield to shareholders at 6.41%.

Hovde Group analyst Bryce Rowe in March initiated coverage of Main Street Capital Corporation (NYSE:MAIN) with a ‘Market Perform’ rating and a $44 price target. The company recently invested $36.4 million in Jorgensen Laboratories, a supplier of equipment and supplies to the veterinary profession, in order to facilitate its recapitalization.

Of the 924 hedge funds being tracked by Insider Monkey as of the fourth quarter of 2021, 9 were long Main Street Capital Corporation (NYSE:MAIN) with overall positions worth $31.97 million. This shows growing investor confidence in the firm over the previous quarter where 5 hedge funds held $26 million worth of company shares. Millennium Management held roughly 236,000 shares of Main Street Capital Corporation (NYSE:MAIN) during the fourth quarter with a price tag of $10.6 million, making it the top shareholder of the firm.