Sumitomo Mitsui Trust Group Inc. Acquires 61,809 Shares of New Mountain Finance Corporation (NASDAQ:NMFC)

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 19.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 387,176 shares of the company's stock after purchasing an additional 61,809 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.36% of New Mountain Finance worth $4,271,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Invesco Ltd. increased its position in New Mountain Finance by 1,929.2% during the 4th quarter. Invesco Ltd. now owns 985,917 shares of the company's stock valued at $11,101,000 after buying an additional 937,331 shares in the last quarter. Ares Management LLC increased its holdings in shares of New Mountain Finance by 15.2% during the fourth quarter. Ares Management LLC now owns 566,186 shares of the company's stock valued at $6,375,000 after acquiring an additional 74,492 shares in the last quarter. Millennium Management LLC increased its holdings in shares of New Mountain Finance by 102.2% during the fourth quarter. Millennium Management LLC now owns 519,532 shares of the company's stock valued at $5,850,000 after acquiring an additional 262,631 shares in the last quarter. Confluence Investment Management LLC increased its stake in New Mountain Finance by 2.1% during the 1st quarter. Confluence Investment Management LLC now owns 438,682 shares of the company's stock valued at $4,839,000 after purchasing an additional 8,876 shares in the last quarter. Finally, Transcend Capital Advisors LLC bought a new stake in New Mountain Finance during the 1st quarter valued at about $4,674,000. Institutional investors own 32.08% of the company's stock.

New Mountain Finance Price Performance

NASDAQ NMFC opened at $10.70 on Friday. The stock has a 50-day moving average of $10.51 and a 200 day moving average of $10.85. New Mountain Finance Corporation has a one year low of $8.84 and a one year high of $12.55. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 10.70 and a beta of 0.80. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.22 and a current ratio of 2.22.

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

New Mountain Finance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 11.97%. The ex-dividend date of this dividend was Monday, June 16th. New Mountain Finance's payout ratio is currently 128.00%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. B. Riley assumed coverage on shares of New Mountain Finance in a research note on Tuesday, May 13th. They set a "neutral" rating and a $11.00 price objective 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 target price on New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating for the company in a report on Tuesday, April 8th.

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.

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