New Mountain Finance Co. (NASDAQ:NMFC - Get Free Report) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Investors of record on Monday, March 17th will be given a dividend of 0.32 per share on Monday, March 31st. This represents a $1.28 dividend on an annualized basis and a yield of 11.02%. The ex-dividend date is Monday, March 17th.
New Mountain Finance has a payout ratio of 92.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities research analysts expect New Mountain Finance to earn $1.31 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 97.7%.
New Mountain Finance Stock Down 0.3 %
NASDAQ NMFC traded down $0.03 during trading hours on Monday, reaching $11.62. 617,823 shares of the company's stock were exchanged, compared to its average volume of 365,053. The company's 50-day moving average is $11.49 and its two-hundred day moving average is $11.67. New Mountain Finance has a one year low of $10.61 and a one year high of $13.01. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 11.07 and a beta of 1.15.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $92.89 million for the quarter, compared to the consensus estimate of $93.23 million. On average, analysts forecast that New Mountain Finance will post 1.39 EPS for the current fiscal year.
Insider Buying and Selling
In other news, Director Steven B. Klinsky purchased 72,280 shares of New Mountain Finance stock in a transaction on Tuesday, December 17th. The stock was purchased at an average price of $11.28 per share, with a total value of $815,318.40. Following the transaction, the director now directly owns 4,285,505 shares in the company, valued at $48,340,496.40. The trade was a 1.72 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In the last three months, insiders acquired 95,104 shares of company stock valued at $1,083,334. 10.22% of the stock is owned by corporate insiders.
New Mountain Finance Company Profile
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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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