First National Trust Co Increases Stock Position in New Mountain Finance Co. (NASDAQ:NMFC)

First National Trust Co increased its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 101.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 160,005 shares of the company's stock after buying an additional 80,451 shares during the period. First National Trust Co owned about 0.15% of New Mountain Finance worth $1,917,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC raised its position in New Mountain Finance by 16.0% during the first quarter. ProShare Advisors LLC now owns 13,035 shares of the company's stock worth $165,000 after acquiring an additional 1,800 shares during the last quarter. Condor Capital Management raised its position in New Mountain Finance by 9.6% during the first quarter. Condor Capital Management now owns 271,667 shares of the company's stock worth $3,442,000 after acquiring an additional 23,902 shares during the last quarter. Midwest Professional Planners LTD. raised its position in New Mountain Finance by 24.7% during the first quarter. Midwest Professional Planners LTD. now owns 108,830 shares of the company's stock worth $1,379,000 after acquiring an additional 21,522 shares during the last quarter. Prevail Innovative Wealth Advisors LLC raised its position in New Mountain Finance by 9.4% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 201,064 shares of the company's stock worth $2,547,000 after acquiring an additional 17,352 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in New Mountain Finance during the first quarter worth about $40,000. Hedge funds and other institutional investors own 32.08% of the company's stock.

New Mountain Finance Trading Up 1.9 %

Shares of NASDAQ:NMFC traded up $0.22 during trading on Wednesday, reaching $11.61. The stock had a trading volume of 706,478 shares, compared to its average volume of 423,390. The business has a fifty day moving average price of $11.71 and a 200-day moving average price of $12.15. 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 stock has a market cap of $1.25 billion, a P/E ratio of 11.02 and a beta of 1.15. New Mountain Finance Co. has a fifty-two week low of $10.61 and a fifty-two week high of $13.23.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.01). The firm had revenue of $95.33 million during the quarter, compared to analyst estimates of $94.10 million. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The business's quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. As a group, analysts anticipate that New Mountain Finance Co. will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 11.37%. The ex-dividend date is Tuesday, December 17th. This is a positive change from New Mountain Finance's previous quarterly dividend of $0.32. New Mountain Finance's payout ratio is currently 121.91%.

Insider Activity

In related news, Director Steven B. Klinsky purchased 150,609 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was purchased at an average price of $10.87 per share, with a total value of $1,637,119.83. Following the completion of the transaction, the director now owns 3,632,326 shares of the company's stock, valued at approximately $39,483,383.62. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other New Mountain Finance news, CEO John Kline acquired 41,550 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was bought at an average cost of $10.92 per share, for a total transaction of $453,726.00. Following the completion of the purchase, the chief executive officer now directly owns 351,783 shares in the company, valued at $3,841,470.36. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven B. Klinsky acquired 150,609 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were acquired at an average price of $10.87 per share, with a total value of $1,637,119.83. Following the completion of the purchase, the director now owns 3,632,326 shares of the company's stock, valued at $39,483,383.62. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 10.22% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company cut their target price on shares of New Mountain Finance from $12.00 to $11.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 29th.

New Mountain Finance 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.