GraniteShares Advisors LLC Has $1.46 Million Position in New Mountain Finance Co. (NASDAQ:NMFC)

GraniteShares Advisors LLC lowered its holdings in New Mountain Finance Co. (NASDAQ:NMFC) by 3.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 114,925 shares of the company’s stock after selling 4,590 shares during the period. GraniteShares Advisors LLC’s holdings in New Mountain Finance were worth $1,462,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of NMFC. Cerity Partners LLC increased its holdings in New Mountain Finance by 31,442.2% in the fourth quarter. Cerity Partners LLC now owns 3,738,068 shares of the company’s stock valued at $46,240,000 after purchasing an additional 3,726,217 shares during the last quarter. Millennium Management LLC increased its holdings in New Mountain Finance by 837.8% in the fourth quarter. Millennium Management LLC now owns 977,695 shares of the company’s stock valued at $12,094,000 after purchasing an additional 873,440 shares during the last quarter. International Assets Investment Management LLC increased its holdings in New Mountain Finance by 1,157.0% in the fourth quarter. International Assets Investment Management LLC now owns 426,352 shares of the company’s stock valued at $5,423,000 after purchasing an additional 392,434 shares during the last quarter. Acadian Asset Management LLC bought a new stake in New Mountain Finance in the third quarter valued at about $4,457,000. Finally, Two Sigma Investments LP increased its holdings in New Mountain Finance by 84.9% in the first quarter. Two Sigma Investments LP now owns 403,512 shares of the company’s stock valued at $4,911,000 after purchasing an additional 185,226 shares during the last quarter. Institutional investors and hedge funds own 32.08% of the company’s stock.

New Mountain Finance Price Performance

Shares of New Mountain Finance stock remained flat at $12.39 during trading hours on Tuesday. The company’s stock had a trading volume of 289,547 shares, compared to its average volume of 445,736. New Mountain Finance Co. has a 12 month low of $11.38 and a 12 month high of $13.23. The stock has a 50 day simple moving average of $12.62 and a 200 day simple moving average of $12.73. The company has a market capitalization of $1.32 billion, a P/E ratio of 9.93 and a beta of 1.13. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 1.34.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.01. The company had revenue of $92.80 million during the quarter, compared to the consensus estimate 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 prior year, the company earned $0.35 earnings per share. Equities analysts expect that New Mountain Finance Co. will post 1.53 EPS 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 issued a dividend of $0.36 per share. The ex-dividend date was Thursday, March 14th. This is an increase from New Mountain Finance’s previous quarterly dividend of $0.32. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.62%. New Mountain Finance’s dividend payout ratio (DPR) is presently 102.40%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company upped their price objective 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 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.