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

New Mountain Finance Co. (NASDAQ:NMFC) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Stockholders of record on Monday, March 17th will be paid a dividend of 0.32 per share on Monday, March 31st. This represents a $1.28 annualized dividend and a dividend yield of 11.13%. The ex-dividend date is Monday, March 17th.

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. 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 2.1 %

New Mountain Finance stock traded down $0.25 during midday trading on Thursday, hitting $11.50. 683,586 shares of the stock were exchanged, compared to its average volume of 356,694. The company has a fifty day simple moving average of $11.46 and a two-hundred day simple moving average of $11.68. New Mountain Finance has a 52 week low of $10.61 and a 52 week high of $13.01. The stock has a market capitalization of $1.24 billion, a PE ratio of 10.95 and a beta of 1.15. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.32 earnings per share 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%. Equities research analysts anticipate that New Mountain Finance will post 1.39 EPS for the current fiscal year.

Insider Activity

In other New Mountain Finance news, Director Steven B. Klinsky acquired 72,280 shares of the stock in a transaction dated Tuesday, December 17th. The shares were bought at an average cost of $11.28 per share, for a total transaction of $815,318.40. Following the completion of the acquisition, the director now directly owns 4,285,505 shares of the company’s stock, valued at approximately $48,340,496.40. This trade represents a 1.72 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired 95,104 shares of company stock worth $1,083,334 over the last ninety days. Insiders own 10.34% of the company’s stock.

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.