New Mountain Finance Corporation (NMFC) to Issue Quarterly Dividend of $0.25 on June 30th

New Mountain Finance Corporation (NASDAQ:NMFC) declared a quarterly dividend on Wednesday, April 22nd. Shareholders of record on Tuesday, June 16th will be paid a dividend of 0.25 per share on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 12.6%. The ex-dividend date is Tuesday, June 16th.

New Mountain Finance has increased its dividend payment by an average of 0.0%per year over the last three years. New Mountain Finance has a payout ratio of 71.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect New Mountain Finance to earn $1.07 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 93.5%.

New Mountain Finance Trading Up 0.8%

Shares of NMFC stock opened at $7.95 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.02 and a current ratio of 2.02. New Mountain Finance has a 1 year low of $7.47 and a 1 year high of $10.90. The stock has a fifty day moving average of $8.11 and a two-hundred day moving average of $8.49. The firm has a market capitalization of $750.88 million, a PE ratio of -13.71 and a beta of 0.54.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. New Mountain Finance had a positive return on equity of 11.14% and a negative net margin of 18.65%.The company had revenue of $41.27 million during the quarter, compared to analyst estimates of $67.76 million. During the same quarter in the previous year, the firm posted $0.32 EPS. The firm’s quarterly revenue was down 19.7% on a year-over-year basis. As a group, research analysts expect that New Mountain Finance will post 1.11 EPS for the current year.

Insiders Place Their Bets

In other New Mountain Finance news, EVP Adam B. Weinstein bought 12,900 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was purchased at an average price of $7.61 per share, for a total transaction of $98,169.00. Following the purchase, the executive vice president directly owned 751,756 shares in the company, valued at $5,720,863.16. This trade represents a 1.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 14.90% of the stock is currently owned by insiders.

Institutional Trading of New Mountain Finance

A number of hedge funds have recently modified their holdings of the company. LSV Asset Management lifted its position in shares of New Mountain Finance by 13.4% in the 4th quarter. LSV Asset Management now owns 2,986,718 shares of the company’s stock worth $27,508,000 after acquiring an additional 353,062 shares during the period. Van ECK Associates Corp lifted its position in shares of New Mountain Finance by 4.6% in the 3rd quarter. Van ECK Associates Corp now owns 2,589,798 shares of the company’s stock worth $24,966,000 after acquiring an additional 115,004 shares during the period. JPMorgan Chase & Co. lifted its position in shares of New Mountain Finance by 27.8% in the 4th quarter. JPMorgan Chase & Co. now owns 2,038,662 shares of the company’s stock worth $18,776,000 after acquiring an additional 443,016 shares during the period. UBS Group AG lifted its position in shares of New Mountain Finance by 33.4% in the 4th quarter. UBS Group AG now owns 1,541,128 shares of the company’s stock worth $14,194,000 after acquiring an additional 385,891 shares during the period. Finally, Rivernorth Capital Management LLC bought a new stake in shares of New Mountain Finance in the 4th quarter worth approximately $12,326,000. 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.