Allspring Global Investments Holdings LLC Increases Stock Holdings in New Mountain Finance Co. (NASDAQ:NMFC)

Allspring Global Investments Holdings LLC raised its holdings in New Mountain Finance Co. (NASDAQ:NMFC) by 0.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 3,083,543 shares of the company’s stock after acquiring an additional 7,186 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in New Mountain Finance were worth $39,068,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NMFC. International Assets Investment Management LLC raised its position in shares of New Mountain Finance by 1,157.0% in the 4th quarter. International Assets Investment Management LLC now owns 426,352 shares of the company’s stock valued at $5,423,000 after purchasing an additional 392,434 shares during the last quarter. Prevail Innovative Wealth Advisors LLC raised its holdings in shares of New Mountain Finance by 176.0% in the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 183,712 shares of the company’s stock worth $2,337,000 after buying an additional 117,153 shares during the last quarter. Confluence Investment Management LLC acquired a new stake in shares of New Mountain Finance during the first quarter worth $5,249,000. Van ECK Associates Corp lifted its stake in shares of New Mountain Finance by 11.1% during the fourth quarter. Van ECK Associates Corp now owns 1,562,437 shares of the company’s stock worth $19,875,000 after buying an additional 156,652 shares during the period. Finally, Cerity Partners LLC grew its holdings in shares of New Mountain Finance by 2.6% during the fourth quarter. Cerity Partners LLC now owns 3,574,600 shares of the company’s stock valued at $45,469,000 after buying an additional 91,379 shares during the last quarter. Institutional investors and hedge funds own 32.08% of the company’s stock.

New Mountain Finance Stock Performance

Shares of NMFC stock opened at $12.39 on Friday. The business has a fifty day moving average of $12.50 and a 200 day moving average of $12.64. New Mountain Finance Co. has a 1 year low of $12.12 and a 1 year high of $13.23. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 11.16 and a beta of 1.15.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.02). New Mountain Finance had a return on equity of 11.80% and a net margin of 31.67%. The firm had revenue of $90.56 million during the quarter, compared to analysts’ expectations of $90.08 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, research analysts expect that New Mountain Finance Co. will post 1.43 earnings per share for the current year.

New Mountain Finance Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 10.33%. The ex-dividend date was Friday, June 14th. New Mountain Finance’s dividend payout ratio is presently 122.52%.

Insider Buying and Selling at New Mountain Finance

In other New Mountain Finance news, Director David Ogens acquired 3,500 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were purchased at an average price of $12.62 per share, for a total transaction of $44,170.00. Following the completion of the purchase, the director now directly owns 166,391 shares of the company’s stock, valued at $2,099,854.42. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 10.34% of the company’s stock.

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.