New Mountain Finance Co. (NASDAQ:NMFC) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in shares of New Mountain Finance Co. (NASDAQ:NMFCFree Report) by 2.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 267,087 shares of the company’s stock after selling 5,810 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.25% of New Mountain Finance worth $3,384,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NMFC. Morton Brown Family Wealth LLC acquired a new position in New Mountain Finance in the fourth quarter worth about $35,000. Beaumont Financial Advisors LLC acquired a new position in New Mountain Finance in the fourth quarter worth about $130,000. Virtu Financial LLC acquired a new position in New Mountain Finance in the fourth quarter worth about $181,000. Sanders Morris Harris LLC acquired a new position in New Mountain Finance in the first quarter worth about $245,000. Finally, Mutual Advisors LLC grew its stake in New Mountain Finance by 5.0% in the fourth quarter. Mutual Advisors LLC now owns 25,246 shares of the company’s stock worth $321,000 after purchasing an additional 1,200 shares in the last quarter. 32.08% of the stock is currently owned by institutional investors and hedge funds.

New Mountain Finance Stock Up 0.6 %

NASDAQ:NMFC opened at $12.32 on Thursday. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 11.10 and a beta of 1.15. New Mountain Finance Co. has a one year low of $12.12 and a one year high of $13.23. The stock has a 50-day simple moving average of $12.47 and a 200 day simple moving average of $12.62. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.11 and a current ratio of 1.11.

New Mountain Finance (NASDAQ:NMFCGet Free Report) last issued its earnings results on Wednesday, May 1st. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $90.56 million during the quarter, compared to the consensus estimate of $90.08 million. During the same period in the prior year, the business earned $0.38 EPS. The business’s revenue was down 1.5% on a year-over-year basis. Sell-side analysts predict that New Mountain Finance Co. will post 1.43 EPS for the current fiscal year.

New Mountain Finance Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.32 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.28 dividend on an annualized basis and a yield of 10.39%. New Mountain Finance’s dividend payout ratio is currently 122.52%.

Insiders Place Their Bets

In other New Mountain Finance news, Director David Ogens bought 3,500 shares of the business’s stock in a transaction on Friday, June 7th. The shares were purchased at an average price of $12.62 per share, with a total value of $44,170.00. Following the completion of the acquisition, the director now directly owns 166,391 shares of the company’s stock, valued at approximately $2,099,854.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.34% of the stock is currently owned by corporate insiders.

About New Mountain Finance

(Free Report)

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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Institutional Ownership by Quarter for New Mountain Finance (NASDAQ:NMFC)

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