New Mountain Finance Co. (NASDAQ:NMFC) Plans $0.32 Quarterly Dividend

New Mountain Finance Co. (NASDAQ:NMFC) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders 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 11.13%. The ex-dividend date of this dividend is Monday, March 17th.

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 fall. 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 Performance

NMFC stock traded down $0.25 during midday trading on Thursday, reaching $11.50. 683,586 shares of the company were exchanged, compared to its average volume of 356,694. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23. The business has a 50-day moving average price of $11.46 and a two-hundred day moving average price of $11.68. New Mountain Finance has a one year low of $10.61 and a one year high of $13.01. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 10.95 and a beta of 1.15.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The company had revenue of $92.89 million for the quarter, compared to the consensus estimate of $93.23 million. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. Equities research analysts forecast that New Mountain Finance will post 1.39 EPS for the current year.

Insider Activity

In other New Mountain Finance news, Director Steven B. Klinsky bought 6,200 shares of New Mountain Finance stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average price of $11.75 per share, with a total value of $72,850.00. Following the completion of the transaction, the director now owns 4,122,655 shares in the company, valued at $48,441,196.25. The trade was a 0.15 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders acquired 95,104 shares of company stock valued at $1,083,334. 10.34% of the stock is owned by company insiders.

New Mountain Finance Company 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.