Dorsey & Whitney Trust CO LLC purchased a new stake in New Mountain Finance Co. (NASDAQ:NMFC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 135,462 shares of the company's stock, valued at approximately $1,525,000. Dorsey & Whitney Trust CO LLC owned 0.13% of New Mountain Finance at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cerity Partners LLC raised its holdings in New Mountain Finance by 2.7% during the third quarter. Cerity Partners LLC now owns 3,823,925 shares of the company's stock worth $45,811,000 after purchasing an additional 100,315 shares during the last quarter. HighTower Advisors LLC increased its holdings in New Mountain Finance by 7.6% during the 3rd quarter. HighTower Advisors LLC now owns 3,376,702 shares of the company's stock valued at $40,438,000 after acquiring an additional 237,594 shares in the last quarter. Van ECK Associates Corp raised its position in New Mountain Finance by 4.1% during the fourth quarter. Van ECK Associates Corp now owns 2,342,650 shares of the company's stock worth $26,378,000 after acquiring an additional 93,329 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of New Mountain Finance by 1.3% in the third quarter. JPMorgan Chase & Co. now owns 1,258,842 shares of the company's stock valued at $15,081,000 after purchasing an additional 15,988 shares in the last quarter. Finally, Confluence Investment Management LLC grew its position in shares of New Mountain Finance by 0.3% in the fourth quarter. Confluence Investment Management LLC now owns 429,806 shares of the company's stock valued at $4,840,000 after purchasing an additional 1,472 shares during the last quarter. Institutional investors and hedge funds own 32.08% of the company's stock.
Insiders Place Their Bets
In other news, Director Steven B. Klinsky acquired 72,280 shares of New Mountain Finance stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average price of $11.28 per share, with a total value of $815,318.40. Following the completion of the purchase, the director now owns 4,285,505 shares of the company's stock, valued at approximately $48,340,496.40. This represents a 1.72 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Ogens bought 5,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $11.44 per share, with a total value of $57,200.00. Following the completion of the purchase, the director now directly owns 179,020 shares in the company, valued at $2,047,988.80. This trade represents a 2.87 % increase in their position. The disclosure for this purchase can be found here. 10.22% of the stock is owned by corporate insiders.
New Mountain Finance Price Performance
Shares of NMFC traded up $0.01 during mid-day trading on Wednesday, reaching $11.13. 1,519,691 shares of the company's stock were exchanged, compared to its average volume of 424,853. 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 Co. has a 52-week low of $10.61 and a 52-week high of $12.99. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 10.60 and a beta of 1.16. The company has a 50-day simple moving average of $11.49 and a two-hundred day simple moving average of $11.63.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last released its quarterly earnings results 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). New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The company had revenue of $92.89 million for the quarter, compared to analysts' expectations of $93.23 million. On average, sell-side analysts predict that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.
New Mountain Finance Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.32 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.28 dividend on an annualized basis and a yield of 11.50%. New Mountain Finance's dividend payout ratio (DPR) is 123.08%.
New Mountain Finance Profile
(
Free Report)
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.
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