360° Coverage : Relative Strength Alert For Main Street Capital

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Relative Strength Alert For Main Street Capital

May 9 2014, 10:59am CDT | by

The DividendRank formula at Dividend Channel ranks a coverage universe of thousands of dividend stocks, according to a proprietary formula designed to identify those stocks that combine two...

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16 weeks ago

Relative Strength Alert For Main Street Capital

May 9 2014, 10:59am CDT | by

The DividendRank formula at Dividend Channel ranks a coverage universe of thousands of dividend stocks, according to a proprietary formula designed to identify those stocks that combine two important characteristics — strong fundamentals and a valuation that looks inexpensive. Main Street Capital Corporation (NYSE: MAIN) presently has a stellar rank, in the top 10% of the coverage universe, which suggests it is among the top most “interesting” ideas that merit further research by investors.

But making Main Street Capital Corporation an even more interesting and timely stock to look at, is the fact that in trading on Friday, shares of MAIN entered into oversold territory, changing hands as low as $28.69 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

Click here to find out what 9 other oversold dividend stocks you need to know about, at DividendChannel.com »

In the case of Main Street Capital Corporation, the RSI reading has hit 23.1 — by comparison, the universe of dividend stocks covered by Dividend Channel currently has an average RSI of 54.0. A falling stock price — all else being equal — creates a better opportunity for dividend investors to capture a higher yield. Indeed, MAIN’s recent annualized dividend of 1.98/share (currently paid in monthly installments) works out to an annual yield of 6.42% based upon the recent $30.82 share price.

A bullish investor could look at MAIN’s 23.1 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on MAIN is its dividend history.

In general, dividends are not always predictable; but, looking at the history chart below can help in judging whether the most recent dividend is likely to continue.


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According to the ETF Finder at ETFChannel.com, MAIN makes up 4.60% of the BDC Income ETF (AMEX: BIZD) which is trading lower by about 0.7% on the day Friday.

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Update
2

1 day ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (NewCo) a ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

2 days ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double tragedies of MH370 and M ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

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