Dorsey & Whitney Trust CO LLC Invests $1.53 Million in New Mountain Finance Co. (NASDAQ:NMFC)

Dorsey & Whitney Trust CO LLC purchased a new position in New Mountain Finance Co. (NASDAQ:NMFC) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 135,462 shares of the company’s stock, valued at approximately $1,525,000. Dorsey & Whitney Trust CO LLC owned 0.13% of New Mountain Finance at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC acquired a new stake in shares of New Mountain Finance during the third quarter valued at approximately $169,000. Confluence Investment Management LLC grew its position in New Mountain Finance by 1.1% during the third quarter. Confluence Investment Management LLC now owns 428,334 shares of the company’s stock valued at $5,131,000 after purchasing an additional 4,756 shares in the last quarter. Lindbrook Capital LLC grew its position in New Mountain Finance by 0.7% during the third quarter. Lindbrook Capital LLC now owns 325,365 shares of the company’s stock valued at $3,898,000 after purchasing an additional 2,389 shares in the last quarter. First National Trust Co grew its position in New Mountain Finance by 101.1% in the third quarter. First National Trust Co now owns 160,005 shares of the company’s stock worth $1,917,000 after acquiring an additional 80,451 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in New Mountain Finance by 9.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,158 shares of the company’s stock worth $4,075,000 after acquiring an additional 28,957 shares in the last quarter. 32.08% of the stock is owned by institutional investors and hedge funds.

New Mountain Finance Stock Performance

NMFC stock opened at $11.38 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 10.84 and a beta of 1.16. New Mountain Finance Co. has a 12 month low of $10.61 and a 12 month high of $13.01. The firm has a 50 day moving average of $11.50 and a two-hundred day moving average of $11.65.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). The firm had revenue of $92.89 million for the quarter, compared to the consensus estimate of $93.23 million. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. As a group, equities analysts anticipate that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.

New Mountain Finance Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 11.25%. The ex-dividend date of this dividend is Monday, March 17th. New Mountain Finance’s dividend payout ratio is 123.08%.

Insider Activity

In other New Mountain Finance news, Director David Ogens bought 5,000 shares of New Mountain Finance stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $11.44 per share, with a total value of $57,200.00. Following the purchase, the director now owns 179,020 shares of the company’s stock, valued at $2,047,988.80. This trade represents a 2.87 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven B. Klinsky bought 72,280 shares of New Mountain Finance stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average cost of $11.28 per share, for a total transaction of $815,318.40. Following the purchase, the director now directly owns 4,285,505 shares in the company, valued at approximately $48,340,496.40. The trade was a 1.72 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 10.22% of the company’s stock.

About New Mountain Finance

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.