Advisors Asset Management Inc. Trims Stock Position in New Mountain Finance Co. (NASDAQ:NMFC)

Advisors Asset Management Inc. lowered its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 12.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 229,084 shares of the company’s stock after selling 32,479 shares during the period. Advisors Asset Management Inc. owned about 0.21% of New Mountain Finance worth $2,579,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Corient Private Wealth LLC grew its position in shares of New Mountain Finance by 57.2% during the 4th quarter. Corient Private Wealth LLC now owns 18,723 shares of the company’s stock valued at $211,000 after acquiring an additional 6,812 shares during the period. First National Trust Co grew its position in shares of New Mountain Finance by 2.9% during the 4th quarter. First National Trust Co now owns 164,579 shares of the company’s stock valued at $1,853,000 after acquiring an additional 4,574 shares during the period. Midwest Professional Planners LTD. grew its position in shares of New Mountain Finance by 6.5% during the 4th quarter. Midwest Professional Planners LTD. now owns 141,833 shares of the company’s stock valued at $1,597,000 after acquiring an additional 8,650 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of New Mountain Finance during the 4th quarter valued at about $1,141,000. Finally, Farther Finance Advisors LLC grew its position in shares of New Mountain Finance by 154.3% during the 4th quarter. Farther Finance Advisors LLC now owns 35,885 shares of the company’s stock valued at $404,000 after acquiring an additional 21,775 shares during the period. Hedge funds and other institutional investors own 32.08% of the company’s stock.

Insider Buying and Selling

In related news, Director David Ogens bought 5,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $11.44 per share, for a total transaction of $57,200.00. Following the acquisition, the director now directly owns 179,020 shares in the company, valued at approximately $2,047,988.80. This trade represents a 2.87 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.22% of the stock is currently owned by insiders.

New Mountain Finance Trading Down 0.7 %

NMFC stock opened at $11.00 on Friday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46. New Mountain Finance Co. has a 12-month low of $10.62 and a 12-month high of $12.81. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 10.48 and a beta of 1.16. The business’s 50-day moving average is $11.48 and its 200 day moving average is $11.57.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The firm had revenue of $92.89 million during the quarter, compared to analyst estimates of $93.23 million. On average, sell-side analysts anticipate that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.

New Mountain Finance Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 11.64%. The ex-dividend date is Monday, March 17th. New Mountain Finance’s payout ratio is 123.08%.

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.