Sumitomo Mitsui Trust Group Inc. Acquires 114,840 Shares of New Mountain Finance Corporation $NMFC

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of New Mountain Finance Corporation (NASDAQ:NMFC) by 23.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 606,264 shares of the company’s stock after purchasing an additional 114,840 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.57% of New Mountain Finance worth $5,844,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Tranquility Partners LLC increased its stake in shares of New Mountain Finance by 92.6% in the second quarter. Tranquility Partners LLC now owns 232,087 shares of the company’s stock valued at $2,449,000 after buying an additional 111,615 shares during the period. Acadian Asset Management LLC lifted its stake in shares of New Mountain Finance by 266.7% in the 2nd quarter. Acadian Asset Management LLC now owns 345,926 shares of the company’s stock valued at $3,647,000 after purchasing an additional 251,596 shares during the period. Truist Financial Corp bought a new stake in shares of New Mountain Finance in the 2nd quarter valued at $167,000. Arlington Capital Management Inc. acquired a new position in shares of New Mountain Finance during the second quarter valued at about $947,000. Finally, Franklin Resources Inc. boosted its holdings in New Mountain Finance by 18.1% in the second quarter. Franklin Resources Inc. now owns 643,433 shares of the company’s stock worth $6,788,000 after acquiring an additional 98,603 shares in the last quarter. Institutional investors and hedge funds own 32.08% of the company’s stock.

New Mountain Finance Stock Performance

NMFC opened at $9.12 on Friday. New Mountain Finance Corporation has a 52-week low of $8.84 and a 52-week high of $12.05. The company has a market cap of $940.82 million, a P/E ratio of 14.03 and a beta of 0.58. The firm’s 50-day moving average price is $9.36 and its 200-day moving average price is $9.84. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.40.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. New Mountain Finance had a net margin of 20.84% and a return on equity of 10.42%. The firm had revenue of $80.53 million for the quarter, compared to analysts’ expectations of $83.91 million. During the same quarter last year, the company earned $0.34 EPS. The firm’s revenue for the quarter was down 15.5% compared to the same quarter last year. As a group, equities analysts anticipate that New Mountain Finance Corporation will post 1.39 EPS for the current fiscal year.

New Mountain Finance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $1.28 annualized dividend and a yield of 14.0%. New Mountain Finance’s dividend payout ratio is currently 196.92%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. B. Riley restated a “neutral” rating and set a $10.00 price objective (down previously from $11.00) on shares of New Mountain Finance in a report on Wednesday, November 5th. Keefe, Bruyette & Woods dropped their price target on shares of New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 5th. New Street Research set a $10.00 price objective on New Mountain Finance in a report on Friday, October 10th. Weiss Ratings restated a “hold (c-)” rating on shares of New Mountain Finance in a report on Wednesday, October 8th. Finally, Zacks Research upgraded New Mountain Finance from a “strong sell” rating to a “hold” rating in a research note on Monday, November 24th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $10.17.

New Mountain Finance Company Profile

New Mountain Finance Corp. is a closed-end, externally managed business development company (BDC) that provides customized debt and equity capital solutions to U.S. middle-market companies. As a BDC organized under the Investment Company Act of 1940, New Mountain Finance invests in sponsor-backed and founder-led businesses that span a range of industry sectors, with a focus on companies demonstrating resilient growth and recurring revenue streams.

The company’s investment portfolio typically includes first-lien senior secured loans, second-lien and junior debt instruments, mezzanine financing and equity co-investments.