New Mountain Finance Corporation (NMFC) to Issue Quarterly Dividend of $0.32 on March 31st

New Mountain Finance Corporation (NASDAQ:NMFC) announced a quarterly dividend on Tuesday, February 24th. Stockholders of record on Tuesday, March 17th will be paid a dividend of 0.32 per share on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 16.3%. The ex-dividend date is Tuesday, March 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 dividend payout ratio of 92.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities 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 4.0%

NASDAQ NMFC opened at $7.83 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.99 and a quick ratio of 1.99. The firm’s fifty day moving average price is $8.78 and its 200 day moving average price is $9.43. The company has a market capitalization of $807.74 million, a price-to-earnings ratio of 52.20 and a beta of 0.58. New Mountain Finance has a 12 month low of $7.69 and a 12 month high of $12.01.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. LSV Asset Management lifted its holdings in New Mountain Finance by 13.4% in the fourth quarter. LSV Asset Management now owns 2,986,718 shares of the company’s stock valued at $27,508,000 after acquiring an additional 353,062 shares during the period. Van ECK Associates Corp boosted its holdings in New Mountain Finance by 4.6% during the third quarter. Van ECK Associates Corp now owns 2,589,798 shares of the company’s stock worth $24,966,000 after buying an additional 115,004 shares in the last quarter. JPMorgan Chase & Co. grew its position in New Mountain Finance by 27.8% during the fourth quarter. JPMorgan Chase & Co. now owns 2,038,662 shares of the company’s stock worth $18,776,000 after buying an additional 443,016 shares during the period. UBS Group AG increased its holdings in New Mountain Finance by 33.4% in the fourth quarter. UBS Group AG now owns 1,541,128 shares of the company’s stock valued at $14,194,000 after buying an additional 385,891 shares in the last quarter. Finally, Rivernorth Capital Management LLC acquired a new stake in shares of New Mountain Finance during the 4th quarter valued at approximately $12,326,000. Hedge funds and other institutional investors own 32.08% of the company’s stock.

About New Mountain Finance

New Mountain Finance Corp. is a closed-end, externally managed business development company (BDC) that provides customized debt and equity capital solutions to U.S. middle-market companies. As a BDC organized under the Investment Company Act of 1940, New Mountain Finance invests in sponsor-backed and founder-led businesses that span a range of industry sectors, with a focus on companies demonstrating resilient growth and recurring revenue streams.

The company’s investment portfolio typically includes first-lien senior secured loans, second-lien and junior debt instruments, mezzanine financing and equity co-investments.