New Mountain Finance Corporation (NASDAQ:NMFC) to Issue $0.32 Quarterly Dividend

New Mountain Finance Corporation (NASDAQ:NMFC) announced a quarterly dividend on Monday, November 3rd. Stockholders of record on Wednesday, December 17th will be paid a dividend of 0.32 per share on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 13.3%. The ex-dividend date of this dividend is Wednesday, December 17th.

New Mountain Finance has raised its dividend payment by an average of 0.0%per year over the last three years. New Mountain Finance has a payout ratio of 92.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect New Mountain Finance to earn $1.31 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 97.7%.

New Mountain Finance Trading Down 0.4%

Shares of NASDAQ:NMFC traded down $0.04 during trading on Tuesday, reaching $9.66. The stock had a trading volume of 473,777 shares, compared to its average volume of 529,357. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.35. The stock has a market cap of $1.03 billion, a P/E ratio of 12.70 and a beta of 0.77. The business has a fifty day moving average price of $9.82 and a 200-day moving average price of $10.24. New Mountain Finance has a fifty-two week low of $8.84 and a fifty-two week high of $12.05.

New Mountain Finance (NASDAQ:NMFC) last announced its earnings results on Monday, November 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The firm had revenue of $80.53 million for the quarter, compared to analyst estimates of $83.91 million. New Mountain Finance had a net margin of 23.27% and a return on equity of 10.43%. New Mountain Finance’s revenue was down 15.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.34 earnings per share. As a group, analysts anticipate that New Mountain Finance will post 1.39 earnings per share for the current fiscal year.

Insider Buying and Selling at New Mountain Finance

In other New Mountain Finance news, EVP Adam B. Weinstein purchased 49,750 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was purchased at an average cost of $10.03 per share, with a total value of $498,992.50. Following the transaction, the executive vice president owned 652,490 shares in the company, valued at approximately $6,544,474.70. This trade represents a 8.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven B. Klinsky purchased 106,691 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was bought at an average price of $9.78 per share, with a total value of $1,043,437.98. Following the completion of the acquisition, the director owned 4,370,857 shares in the company, valued at $42,746,981.46. This represents a 2.50% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 157,191 shares of company stock worth $1,550,035 in the last 90 days. Company insiders own 11.71% of the company’s stock.

Hedge Funds Weigh In On New Mountain Finance

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tranquility Partners LLC boosted its holdings in New Mountain Finance by 36.4% in the 3rd quarter. Tranquility Partners LLC now owns 316,671 shares of the company’s stock worth $3,053,000 after acquiring an additional 84,584 shares during the period. Arkadios Wealth Advisors acquired a new position in shares of New Mountain Finance during the third quarter worth $154,000. Campbell & CO Investment Adviser LLC boosted its stake in shares of New Mountain Finance by 165.4% in the third quarter. Campbell & CO Investment Adviser LLC now owns 42,461 shares of the company’s stock valued at $409,000 after purchasing an additional 26,463 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in New Mountain Finance by 23.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 606,264 shares of the company’s stock valued at $5,844,000 after purchasing an additional 114,840 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in New Mountain Finance during the 3rd quarter worth $47,000. 32.08% of the stock is owned by institutional investors and hedge funds.

New Mountain Finance Company Profile

New Mountain Finance Corporation (Nasdaq: NMFC), a business development company is a private equity / buyouts and loan fund specializes in directly investing and lending to middle market companies in defensive growth industries. The fund prefers investing in buyout and middle market companies. It also makes investments in debt securities at all levels of the capital structure including first and second lien debt, unsecured notes, and mezzanine securities.