SFL Co. Ltd. (NYSE:SFL) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of SFL Co. Ltd. (NYSE:SFL) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,245,211 shares of the shipping company’s stock after selling 28,179 shares during the period. Bank of New York Mellon Corp owned about 0.90% of SFL worth $12,726,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SFL. Barclays PLC raised its position in shares of SFL by 239.3% in the 3rd quarter. Barclays PLC now owns 168,908 shares of the shipping company’s stock valued at $1,954,000 after purchasing an additional 119,131 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of SFL by 4.8% in the third quarter. Geode Capital Management LLC now owns 1,441,688 shares of the shipping company’s stock worth $16,680,000 after buying an additional 66,096 shares during the last quarter. Wealthstar Advisors LLC acquired a new stake in SFL in the fourth quarter valued at $569,000. Empowered Funds LLC boosted its stake in SFL by 5.1% during the 4th quarter. Empowered Funds LLC now owns 737,851 shares of the shipping company’s stock valued at $7,541,000 after acquiring an additional 35,972 shares during the last quarter. Finally, State Street Corp grew its holdings in SFL by 2.5% during the 3rd quarter. State Street Corp now owns 2,074,341 shares of the shipping company’s stock worth $24,000,000 after acquiring an additional 51,022 shares in the last quarter. 28.59% of the stock is owned by hedge funds and other institutional investors.

SFL Price Performance

Shares of SFL opened at $8.41 on Thursday. SFL Co. Ltd. has a 12 month low of $8.19 and a 12 month high of $14.62. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.38 and a quick ratio of 0.50. The stock has a fifty day moving average price of $10.06 and a 200 day moving average price of $10.58. The company has a market cap of $1.16 billion, a P/E ratio of 8.32 and a beta of 0.67.

SFL Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be issued a $0.27 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 12.85%. SFL’s dividend payout ratio (DPR) is presently 106.93%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SFL shares. Fearnley Fonds upgraded shares of SFL from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. StockNews.com downgraded SFL from a “hold” rating to a “sell” rating in a report on Thursday, February 13th.

About SFL

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.