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

New Mountain Finance Co. (NASDAQ:NMFC) declared a quarterly dividend on Wednesday, July 31st, Zacks reports. Shareholders of record on Monday, September 16th will be given a dividend of 0.32 per share on Monday, September 30th. This represents a $1.28 annualized dividend and a yield of 10.43%. The ex-dividend date is Monday, September 16th.

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 tumble. Research analysts expect New Mountain Finance to earn $1.40 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 91.4%.

New Mountain Finance Trading Down 0.8 %

NASDAQ NMFC traded down $0.10 on Friday, hitting $12.27. 101,424 shares of the stock were exchanged, compared to its average volume of 404,415. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a fifty day moving average price of $12.40 and a two-hundred day moving average price of $12.57. The firm has a market capitalization of $1.32 billion, a P/E ratio of 11.07 and a beta of 1.15. New Mountain Finance has a 52-week low of $12.12 and a 52-week high of $13.23.

New Mountain Finance (NASDAQ:NMFC) last issued its earnings results on Wednesday, July 31st. The company reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. The firm had revenue of $94.59 million during the quarter, compared to analyst estimates of $90.25 million. New Mountain Finance had a net margin of 31.65% and a return on equity of 11.69%. During the same period in the previous year, the firm earned $0.39 earnings per share. Research analysts forecast that New Mountain Finance will post 1.42 EPS for the current fiscal year.

Insider Activity at New Mountain Finance

In other news, Director David Ogens bought 3,500 shares of New Mountain Finance stock in a transaction on Friday, June 7th. The stock was acquired at an average cost of $12.62 per share, for a total transaction of $44,170.00. Following the completion of the acquisition, the director now owns 166,391 shares of the company’s stock, valued at approximately $2,099,854.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 10.22% of the stock is currently owned by corporate insiders.

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.