Geode Capital Management LLC Boosts Stake in SFL Co. Ltd. (NYSE:SFL)

Geode Capital Management LLC lifted its stake in shares of SFL Co. Ltd. (NYSE:SFL) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,441,688 shares of the shipping company’s stock after purchasing an additional 66,096 shares during the period. Geode Capital Management LLC owned 1.04% of SFL worth $16,680,000 as of its most recent SEC filing.

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

SFL Trading Up 0.1 %

NYSE SFL opened at $10.09 on Monday. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.50 and a current ratio of 0.50. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 9.09 and a beta of 0.67. The firm has a 50 day simple moving average of $10.45 and a 200-day simple moving average of $11.55. SFL Co. Ltd. has a one year low of $9.64 and a one year high of $14.62.

SFL (NYSE:SFL) last posted its quarterly earnings data 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 company had revenue of $255.30 million for the quarter, compared to analysts’ expectations of $243.98 million. During the same period in the prior year, the company posted $0.23 EPS. The firm’s revenue was up 24.6% compared to the same quarter last year.

SFL Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, December 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 10.70%. SFL’s payout ratio is 97.30%.

Analysts Set New Price Targets

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

SFL 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.