PFG Investments LLC Increases Stock Holdings in New Mountain Finance Co. (NASDAQ:NMFC)

PFG Investments LLC grew its holdings in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 125.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,911 shares of the company’s stock after purchasing an additional 21,622 shares during the quarter. PFG Investments LLC’s holdings in New Mountain Finance were worth $493,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Morton Brown Family Wealth LLC bought a new stake in New Mountain Finance during the fourth quarter valued at about $35,000. Barclays PLC bought a new position in shares of New Mountain Finance during the 3rd quarter valued at approximately $63,000. Beaumont Financial Advisors LLC bought a new position in shares of New Mountain Finance during the 4th quarter valued at approximately $130,000. Nisa Investment Advisors LLC bought a new stake in New Mountain Finance during the 3rd quarter worth approximately $133,000. Finally, DAVENPORT & Co LLC purchased a new position in New Mountain Finance during the third quarter valued at approximately $177,000. Institutional investors own 32.08% of the company’s stock.

New Mountain Finance Price Performance

New Mountain Finance stock remained flat at $12.72 during mid-day trading on Monday. 345,825 shares of the company were exchanged, compared to its average volume of 424,671. New Mountain Finance Co. has a 52 week low of $11.38 and a 52 week high of $13.23. The company has a debt-to-equity ratio of 1.34, a quick ratio of 2.92 and a current ratio of 2.92. The firm’s 50-day moving average price is $12.60 and its 200 day moving average price is $12.71. The stock has a market capitalization of $1.35 billion, a P/E ratio of 10.18 and a beta of 1.13.

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, topping the consensus estimate of $0.39 by $0.01. The company had revenue of $92.80 million for the quarter, compared to analysts’ expectations of $94.03 million. New Mountain Finance had a return on equity of 11.93% and a net margin of 36.13%. During the same period in the previous year, the firm posted $0.35 earnings per share. As a group, sell-side analysts forecast that New Mountain Finance Co. will post 1.53 earnings per share for the current year.

New Mountain Finance Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors 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. This represents a $1.44 dividend on an annualized basis and a yield of 11.32%. The ex-dividend date of this dividend was Thursday, March 14th. New Mountain Finance’s dividend payout ratio is 102.40%.

Wall Street Analyst Weigh In

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

New Mountain Finance 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.