Rhumbline Advisers Lowers Position in SFL Co. Ltd. (NYSE:SFL)

Rhumbline Advisers cut its holdings in shares of SFL Co. Ltd. (NYSE:SFL) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 215,675 shares of the shipping company’s stock after selling 7,536 shares during the quarter. Rhumbline Advisers owned about 0.16% of SFL worth $2,994,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. GoalVest Advisory LLC purchased a new position in shares of SFL during the 1st quarter worth $33,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of SFL during the 1st quarter worth $139,000. Aigen Investment Management LP purchased a new position in shares of SFL during the 4th quarter worth $119,000. MQS Management LLC acquired a new position in SFL during the 1st quarter worth about $189,000. Finally, SG Americas Securities LLC acquired a new stake in SFL in the 1st quarter valued at about $195,000. 28.59% of the stock is currently owned by hedge funds and other institutional investors.

SFL Stock Performance

NYSE SFL opened at $11.11 on Wednesday. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 11.43 and a beta of 0.67. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 1.65. SFL Co. Ltd. has a fifty-two week low of $10.27 and a fifty-two week high of $14.62. The business has a fifty day moving average of $11.91 and a 200-day moving average of $12.94.

SFL (NYSE:SFL) last posted its quarterly earnings results on Wednesday, August 14th. The shipping company reported $0.16 earnings per share (EPS) for the quarter. SFL had a return on equity of 12.58% and a net margin of 15.17%. The firm had revenue of $190.90 million during the quarter, compared to the consensus estimate of $184.17 million. During the same quarter in the previous year, the business earned $0.13 earnings per share. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year.

SFL Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Wednesday, September 11th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 9.73%. The ex-dividend date is Wednesday, September 11th. SFL’s payout ratio is 111.34%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Pareto Securities raised SFL from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. StockNews.com raised SFL from a “hold” rating to a “buy” rating in a report on Tuesday, July 16th.

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.