New Mountain Finance Co. (NASDAQ:NMFC) Stock Holdings Increased by International Assets Investment Management LLC

International Assets Investment Management LLC lifted its stake in New Mountain Finance Co. (NASDAQ:NMFC) by 1,157.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 426,352 shares of the company’s stock after purchasing an additional 392,434 shares during the quarter. International Assets Investment Management LLC’s holdings in New Mountain Finance were worth $5,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in NMFC. Lazard Asset Management LLC purchased a new stake in shares of New Mountain Finance in the first quarter worth approximately $29,000. Point72 Hong Kong Ltd purchased a new stake in shares of New Mountain Finance in the second quarter worth approximately $49,000. Barclays PLC purchased a new stake in shares of New Mountain Finance in the third quarter worth approximately $63,000. Harbour Investments Inc. raised its position in New Mountain Finance by 141.0% during the first quarter. Harbour Investments Inc. now owns 5,583 shares of the company’s stock valued at $68,000 after acquiring an additional 3,266 shares in the last quarter. Finally, BNP Paribas Arbitrage SA bought a new position in New Mountain Finance during the first quarter valued at approximately $74,000. 32.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised their price objective on shares of New Mountain Finance from $12.00 to $12.50 and gave the company an “equal weight” rating in a research report on Monday, January 29th.

New Mountain Finance Price Performance

Shares of NMFC opened at $12.39 on Tuesday. The firm has a market cap of $1.32 billion, a PE ratio of 9.91 and a beta of 1.13. The firm’s 50 day moving average price is $12.62 and its 200 day moving average price is $12.73. The company has a debt-to-equity ratio of 1.34, a quick ratio of 2.92 and a current ratio of 2.92. New Mountain Finance Co. has a twelve month low of $11.38 and a twelve month high of $13.23.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. The firm had revenue of $92.80 million for the quarter, compared to analyst estimates of $94.03 million. New Mountain Finance had a net margin of 36.13% and a return on equity of 11.93%. During the same quarter last year, the firm earned $0.35 earnings per share. As a group, research analysts expect that New Mountain Finance Co. will post 1.53 EPS for the current fiscal year.

New Mountain Finance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.36 dividend. This is a positive change from New Mountain Finance’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.62%. New Mountain Finance’s dividend payout ratio (DPR) is currently 102.40%.

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.