Sumitomo Mitsui Trust Group Inc. Raises Holdings in New Mountain Finance Corporation $NMFC

Sumitomo Mitsui Trust Group Inc. increased its position in New Mountain Finance Corporation (NASDAQ:NMFC) by 23.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 606,264 shares of the company’s stock after acquiring an additional 114,840 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in New Mountain Finance were worth $5,844,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MTM Investment Management LLC purchased a new stake in shares of New Mountain Finance in the second quarter worth about $38,000. State of Alaska Department of Revenue acquired a new stake in shares of New Mountain Finance during the 3rd quarter worth approximately $47,000. Huntington National Bank boosted its holdings in shares of New Mountain Finance by 311.8% during the second quarter. Huntington National Bank now owns 4,534 shares of the company’s stock valued at $48,000 after acquiring an additional 3,433 shares during the period. Glenview Trust co acquired a new stake in New Mountain Finance in the 2nd quarter valued at approximately $107,000. Finally, SG Americas Securities LLC bought a new position in shares of New Mountain Finance in the third quarter valued at approximately $108,000. Institutional investors and hedge funds own 32.08% of the company’s stock.

New Mountain Finance Price Performance

Shares of NASDAQ NMFC opened at $9.12 on Friday. The company has a fifty day moving average price of $9.36 and a 200 day moving average price of $9.84. The firm has a market cap of $940.82 million, a PE ratio of 14.03 and a beta of 0.58. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.40. New Mountain Finance Corporation has a 1-year low of $8.84 and a 1-year high of $12.05.

New Mountain Finance (NASDAQ:NMFC) last released its earnings results on Monday, November 3rd. The company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $80.53 million for the quarter, compared to analysts’ expectations of $83.91 million. New Mountain Finance had a return on equity of 10.42% and a net margin of 20.84%.The business’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 EPS. Research analysts predict that New Mountain Finance Corporation will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 14.0%. The ex-dividend date was Wednesday, December 17th. New Mountain Finance’s dividend payout ratio is currently 196.92%.

Analyst Upgrades and Downgrades

NMFC has been the topic of several recent analyst reports. New Street Research set a $10.00 price objective on New Mountain Finance in a report on Friday, October 10th. Keefe, Bruyette & Woods lowered their price target on New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Wednesday, November 5th. Zacks Research upgraded shares of New Mountain Finance from a “strong sell” rating to a “hold” rating in a research note on Monday, November 24th. B. Riley reaffirmed a “neutral” rating and set a $10.00 price objective (down from $11.00) on shares of New Mountain Finance in a report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of New Mountain Finance in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $10.17.

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.