Barclays PLC Increases Stock Position in SFL Co. Ltd. (NYSE:SFL)

Barclays PLC lifted its holdings in shares of SFL Co. Ltd. (NYSE:SFL) by 239.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,908 shares of the shipping company’s stock after purchasing an additional 119,131 shares during the period. Barclays PLC owned about 0.12% of SFL worth $1,954,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of SFL. Public Employees Retirement System of Ohio purchased a new position in SFL in the 3rd quarter valued at about $34,000. Quarry LP raised its position in shares of SFL by 428.2% in the third quarter. Quarry LP now owns 3,967 shares of the shipping company’s stock valued at $46,000 after buying an additional 3,216 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in SFL during the third quarter worth approximately $49,000. Farther Finance Advisors LLC grew its stake in SFL by 1,375.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,293 shares of the shipping company’s stock worth $50,000 after acquiring an additional 4,002 shares during the period. Finally, Millburn Ridgefield Corp acquired a new position in SFL in the 3rd quarter valued at $92,000. 28.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Fearnley Fonds upgraded SFL from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st.

SFL Stock Down 0.7 %

Shares of SFL stock opened at $10.08 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 1.93. The business has a 50-day moving average price of $10.48 and a 200 day moving average price of $11.59. SFL Co. Ltd. has a fifty-two week low of $9.64 and a fifty-two week high of $14.62. The firm has a market cap of $1.40 billion, a P/E ratio of 9.08 and a beta of 0.67.

SFL (NYSE:SFL) last issued its earnings results on Wednesday, November 6th. The shipping company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). SFL had a return on equity of 14.61% and a net margin of 16.03%. The business had revenue of $255.30 million for the quarter, compared to analyst estimates of $243.98 million. During the same period last year, the company posted $0.23 earnings per share. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis.

SFL Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 10.71%. The ex-dividend date of this dividend is Friday, December 13th. SFL’s dividend payout ratio (DPR) is 97.30%.

SFL Company Profile

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.