New Mountain Finance Corp. Declares Quarterly Dividend of $0.34 (NYSE:NMFC)

New Mountain Finance Corp. (NYSE:NMFC) announced a quarterly dividend on Monday, November 4th, Zacks reports. Investors of record on Friday, December 13th will be given a dividend of 0.34 per share by the investment management company on Friday, December 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 9.86%. The ex-dividend date of this dividend is Thursday, December 12th.

New Mountain Finance stock traded down $0.02 during trading on Tuesday, hitting $13.80. The stock had a trading volume of 139,986 shares, compared to its average volume of 535,794. The stock’s 50 day moving average is $13.51 and its two-hundred day moving average is $13.68. New Mountain Finance has a 1 year low of $12.06 and a 1 year high of $14.38. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 10.00 and a beta of 0.52. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.55.

New Mountain Finance (NYSE:NMFC) last released its earnings results on Wednesday, November 6th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.01). The firm had revenue of $72.59 million during the quarter, compared to analysts’ expectations of $69.67 million. New Mountain Finance had a return on equity of 10.51% and a net margin of 33.64%. As a group, equities research analysts anticipate that New Mountain Finance will post 1.41 EPS for the current fiscal year.

Several brokerages recently weighed in on NMFC. Zacks Investment Research raised New Mountain Finance from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Wednesday, November 13th. TheStreet downgraded shares of New Mountain Finance from a “b-” rating to a “c” rating in a report on Friday, November 8th. ValuEngine upgraded shares of New Mountain Finance from a “sell” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank initiated coverage on shares of New Mountain Finance in a research report on Thursday, December 5th. They set a “buy” rating and a $14.75 target price for the company.

In related news, Director Steven B. Klinsky purchased 355,000 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were purchased at an average cost of $13.25 per share, for a total transaction of $4,703,750.00. Following the completion of the transaction, the director now directly owns 6,740,751 shares in the company, valued at approximately $89,314,950.75. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Robert Hamwee purchased 22,098 shares of the stock in a transaction dated Wednesday, October 16th. The stock was purchased at an average cost of $34.28 per share, for a total transaction of $757,519.44. Over the last ninety days, insiders purchased 428,498 shares of company stock valued at $6,145,059. 10.46% of the stock is owned by insiders.

About New Mountain Finance

New Mountain Finance Corporation is a Business Development Company specializing in investments in middle market companies and debt securities at various levels of the capital structure, including first and second lien debt, unsecured notes, bonds, and mezzanine securities. It invests in various industries that include software, education, business services, distribution and logistics, federal services, healthcare services and products, healthcare facilities, energy, media, consumer and industrial services, healthcare Information Technology, Information Technology and services, specialty chemicals and materials, telecommunication, retail, and power generation.

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Dividend History for New Mountain Finance (NYSE:NMFC)

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