New Mountain Finance Co. to Issue Quarterly Dividend of $0.32 (NASDAQ:NMFC)

New Mountain Finance Co. (NASDAQ:NMFC) declared a quarterly dividend on Tuesday, April 22nd, Wall Street Journal reports. Investors of record on Monday, June 16th will be paid a dividend of 0.32 per share on Monday, June 30th. This represents a $1.28 annualized dividend and a yield of 12.10%. The ex-dividend date of this dividend is Monday, June 16th.

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 fall. Equities 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 Stock Down 1.9%

Shares of NMFC stock opened at $10.58 on Friday. New Mountain Finance has a 1-year low of $8.84 and a 1-year high of $12.55. The stock’s fifty day moving average price is $10.27 and its 200 day moving average price is $10.99. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 10.08 and a beta of 0.80.

New Mountain Finance (NASDAQ:NMFC) last announced its earnings results on Monday, May 5th. The company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The firm had revenue of $85.66 million for the quarter, compared to the consensus estimate of $86.65 million. During the same period in the previous year, the business earned $0.36 EPS. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, research analysts expect that New Mountain Finance will post 1.39 earnings per share for the current fiscal year.

Institutional Trading of New Mountain Finance

An institutional investor recently raised its position in New Mountain Finance stock. Millennium Management LLC raised its position in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 36.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 711,050 shares of the company’s stock after purchasing an additional 191,518 shares during the quarter. Millennium Management LLC owned 0.66% of New Mountain Finance worth $7,843,000 at the end of the most recent reporting period. Institutional investors own 32.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods dropped their target price on New Mountain Finance from $12.00 to $11.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 8th. B. Riley assumed coverage on New Mountain Finance in a research note on Tuesday, May 13th. They set a “neutral” rating and a $11.00 price target on the stock. Finally, Wells Fargo & Company dropped their price target on New Mountain Finance from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Monday, April 28th.

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.