Allspring Global Investments Holdings LLC Purchases 7,656 Shares of SFL Co. Ltd. (NYSE:SFL)

Allspring Global Investments Holdings LLC raised its position in SFL Co. Ltd. (NYSE:SFLGet Rating) by 9.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 89,663 shares of the shipping company’s stock after buying an additional 7,656 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in SFL were worth $816,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SFL. Bank of New York Mellon Corp lifted its stake in SFL by 1.5% in the 1st quarter. Bank of New York Mellon Corp now owns 2,046,431 shares of the shipping company’s stock valued at $20,832,000 after acquiring an additional 30,763 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of SFL by 15.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 21,120 shares of the shipping company’s stock worth $215,000 after purchasing an additional 2,889 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of SFL during the 1st quarter worth approximately $126,000. Panagora Asset Management Inc. bought a new stake in shares of SFL during the 1st quarter worth approximately $503,000. Finally, LSV Asset Management raised its stake in shares of SFL by 3,760.1% during the 1st quarter. LSV Asset Management now owns 445,453 shares of the shipping company’s stock worth $4,535,000 after purchasing an additional 433,913 shares in the last quarter. Institutional investors own 31.18% of the company’s stock.

SFL Stock Up 1.3 %

SFL stock opened at $9.97 on Monday. The company has a current ratio of 0.27, a quick ratio of 0.25 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $1.38 billion, a PE ratio of 5.42 and a beta of 0.76. SFL Co. Ltd. has a 1-year low of $7.64 and a 1-year high of $11.60. The business’s 50 day simple moving average is $9.59 and its 200 day simple moving average is $9.89.

SFL (NYSE:SFLGet Rating) last posted its earnings results on Monday, November 14th. The shipping company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05. The business had revenue of $166.89 million for the quarter, compared to analyst estimates of $144.05 million. SFL had a return on equity of 15.61% and a net margin of 37.53%. As a group, research analysts anticipate that SFL Co. Ltd. will post 1.2 EPS for the current year.

SFL Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Wednesday, December 14th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 9.23%. The ex-dividend date was Tuesday, December 13th. SFL’s payout ratio is presently 50.00%.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on SFL in a research note on Wednesday, October 12th. They set a “hold” rating on the stock.

About SFL

(Get Rating)

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 is also involved in the charter, purchase, and sale of assets. In addition, it operates in various sectors of the maritime, and shipping and offshore industries, including oil, chemical, oil product, container, and car transportation, as well as dry bulk shipments and drilling rigs.

Further Reading

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Institutional Ownership by Quarter for SFL (NYSE:SFL)

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