New Mountain Finance (NMFC) Declares $0.32 Dividend

New Mountain Finance said on May 8, 2023 that its board of directors declared a regular quarterly dividend of $0.32 per share ($1.28 annualized). Previously, the company paid $0.32 per share.

Shares must be purchased before the ex-div date of June 15, 2023 to qualify for the dividend. Shareholders of record as of June 16, 2023 will receive the payment on June 30, 2023.

At the current share price of $11.67 / share, the stock's dividend yield is 10.97%.

Looking back five years and taking a sample every week, the average dividend yield has been 10.77%, the lowest has been 8.79%, and the highest has been 27.09%. The standard deviation of yields is 2.55 (n=196).

The current dividend yield is 0.08 standard deviations above the historical average.

The company's 3-Year dividend growth rate is -0.06%.

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What is the Fund Sentiment?

There are 187 funds or institutions reporting positions in New Mountain Finance. This is an increase of 7 owner(s) or 3.89% in the last quarter. Average portfolio weight of all funds dedicated to NMFC is 0.24%, a decrease of 18.33%. Total shares owned by institutions increased in the last three months by 1.56% to 37,833K shares. The put/call ratio of NMFC is 0.37, indicating a bullish outlook.

Analyst Price Forecast Suggests 11.75% Upside

As of April 24, 2023, the average one-year price target for New Mountain Finance is 13.04. The forecasts range from a low of 11.11 to a high of $14.70. The average price target represents an increase of 11.75% from its latest reported closing price of 11.67.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for New Mountain Finance is 343MM, an increase of 16.56%. The projected annual non-GAAP EPS is 1.40.

What are Other Shareholders Doing?

Cerity Partners holds 3,738K shares. In it's prior filing, the firm reported owning 12K shares, representing an increase of 99.68%. The firm increased its portfolio allocation in NMFC by 18,015.87% over the last quarter.

Allspring Global Investments Holdings holds 3,121K shares. In it's prior filing, the firm reported owning 3,114K shares, representing an increase of 0.21%. The firm decreased its portfolio allocation in NMFC by 4.33% over the last quarter.

ESPAX - Wells Fargo Special Small Cap Value Fund holds 2,516K shares. No change in the last quarter.

HighTower Advisors holds 2,476K shares. In it's prior filing, the firm reported owning 2,372K shares, representing an increase of 4.20%. The firm decreased its portfolio allocation in NMFC by 4.50% over the last quarter.

Lsv Asset Management holds 2,396K shares. In it's prior filing, the firm reported owning 2,399K shares, representing a decrease of 0.13%. The firm decreased its portfolio allocation in NMFC by 0.08% over the last quarter.

New Mountain Finance Background Information
(This description is provided by the company.)

New Mountain Finance Corporation is a closed-end, non-diversified and externally managed investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. The Company's investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities. The Company's first lien debt may include traditional first lien senior secured loans or unitranche loans. Unitranche loans combine characteristics of traditional first lien senior secured loans as well as second lien and subordinated loans. Unitranche loans will expose the Company to the risks associated with second lien and subordinated loans to the extent it invests in the 'last out' tranche. In some cases, the investments may also include small equity interests. The Company's investment activities are managed by its Investment Adviser, New Mountain Finance Advisers BDC, L.L.C., which is an investment adviser registered under the Investment Advisers Act of 1940, as amended.

This story originally appeared on Fintel.