New Mountain Finance Corporation (NASDAQ:NMFC) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its stake in New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 19.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 387,176 shares of the company's stock after purchasing an additional 61,809 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.36% of New Mountain Finance worth $4,271,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of NMFC. Oppenheimer & Co. Inc. raised its position in shares of New Mountain Finance by 13.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 31,174 shares of the company's stock valued at $351,000 after purchasing an additional 3,708 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of New Mountain Finance in the 4th quarter valued at approximately $944,000. Larson Financial Group LLC raised its position in New Mountain Finance by 4,746.5% during the 4th quarter. Larson Financial Group LLC now owns 10,953 shares of the company's stock worth $123,000 after buying an additional 10,727 shares during the last quarter. Naviter Wealth LLC purchased a new position in New Mountain Finance during the 4th quarter worth approximately $2,130,000. Finally, Dorsey & Whitney Trust CO LLC purchased a new position in New Mountain Finance during the 4th quarter worth approximately $1,525,000. 32.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NMFC shares. B. Riley started coverage on shares of New Mountain Finance in a research report on Tuesday, May 13th. They set a "neutral" rating and a $11.00 price target for the company. Wells Fargo & Company reduced their price target on shares of New Mountain Finance from $11.00 to $10.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating for the company in a research report on Tuesday, April 8th.

New Mountain Finance Stock Performance

Shares of NASDAQ:NMFC traded up $0.09 during trading on Tuesday, hitting $10.66. 210,266 shares of the stock traded hands, compared to its average volume of 470,360. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 1.32. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 10.66 and a beta of 0.80. The company has a fifty day moving average price of $10.53 and a two-hundred day moving average price of $10.84. New Mountain Finance Corporation has a 52-week low of $8.84 and a 52-week high of $12.55.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $85.66 million during the quarter, compared to analyst estimates of $86.65 million. New Mountain Finance had a net margin of 29.84% and a return on equity of 10.57%. The business's quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 EPS. As a group, equities analysts predict that New Mountain Finance Corporation will post 1.39 EPS for the current year.

New Mountain Finance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 12.01%. The ex-dividend date was Monday, June 16th. New Mountain Finance's dividend payout ratio (DPR) is 128.00%.

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.