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

New Mountain Finance Co. (NASDAQ:NMFC) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders 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 yield of 11.13%. The ex-dividend date is Monday, March 17th.

New Mountain Finance has a dividend 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 opened at $11.50 on Friday. The business has a 50-day simple moving average of $11.47 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 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 cap of $1.24 billion, a P/E ratio of 10.95 and a beta of 1.15.

New Mountain Finance (NASDAQ:NMFC) last announced its earnings results on Wednesday, February 26th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The business had revenue of $92.89 million for the quarter, compared to analysts’ expectations of $93.23 million. Analysts predict that New Mountain Finance will post 1.39 EPS for the current year.

Insider Buying and Selling

In other news, Director Steven B. Klinsky acquired 72,280 shares of New Mountain Finance stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average cost of $11.28 per share, with a total value of $815,318.40. Following the completion of the purchase, the director now directly owns 4,285,505 shares in the company, valued at approximately $48,340,496.40. This trade represents a 1.72 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have purchased 95,104 shares of company stock valued at $1,083,334. 10.34% of the stock is owned by company insiders.

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.