New Mountain Finance Co. (NASDAQ:NMFC) to Issue Quarterly Dividend of $0.32

New Mountain Finance Co. (NASDAQ:NMFC) 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 dividend yield of 10.99%. 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 fall. Equities 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

Shares of NMFC opened at $11.65 on Friday. 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 $1.26 billion, a PE ratio of 11.10 and a beta of 1.15. New Mountain Finance has a 52 week low of $10.61 and a 52 week high of $13.01. The company’s 50 day moving average price is $11.48 and its 200 day moving average price is $11.68.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly earnings data 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 net margin of 30.28% and a return on equity of 11.25%. The business had revenue of $92.89 million during the quarter, compared to analyst estimates of $93.23 million. Research analysts expect that New Mountain Finance will post 1.39 EPS for the current fiscal year.

Insider Activity at New Mountain Finance

In other New Mountain Finance news, Director Steven B. Klinsky acquired 16,624 shares of the stock in a transaction dated Thursday, December 5th. The shares were bought at an average cost of $11.74 per share, for a total transaction of $195,165.76. Following the completion of the acquisition, the director now directly owns 4,133,737 shares of the company’s stock, valued at approximately $48,530,072.38. This trade represents a 0.40 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought 95,104 shares of company stock worth $1,083,334 in the last ninety days. Company insiders own 10.22% of the company’s stock.

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.