Nwam LLC bought a new position in SFL Co. Ltd. (NYSE:SFL – Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 25,991 shares of the shipping company’s stock, valued at approximately $242,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in shares of SFL by 9.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,172,492 shares of the shipping company’s stock worth $76,249,000 after purchasing an additional 725,910 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of SFL by 102.6% in the 1st quarter. Bank of New York Mellon Corp now owns 3,926,225 shares of the shipping company’s stock worth $37,299,000 after purchasing an additional 1,988,546 shares in the last quarter. FMR LLC boosted its holdings in shares of SFL by 36.0% in the 2nd quarter. FMR LLC now owns 2,148,989 shares of the shipping company’s stock worth $20,394,000 after purchasing an additional 568,675 shares in the last quarter. State Street Corp boosted its holdings in shares of SFL by 12.9% in the 1st quarter. State Street Corp now owns 2,121,955 shares of the shipping company’s stock worth $20,159,000 after purchasing an additional 242,127 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of SFL by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 2,025,060 shares of the shipping company’s stock worth $20,615,000 after purchasing an additional 204,722 shares in the last quarter. 28.96% of the stock is currently owned by hedge funds and other institutional investors.
SFL Trading Up 2.5 %
Shares of SFL stock opened at $11.19 on Friday. The stock has a market capitalization of $1.55 billion, a PE ratio of 14.16 and a beta of 0.76. SFL Co. Ltd. has a 1-year low of $8.43 and a 1-year high of $11.52. The business has a 50-day moving average of $11.00 and a 200 day moving average of $10.10. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.32 and a quick ratio of 0.52.
SFL Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be issued a $0.25 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.00 annualized dividend and a yield of 8.94%. This is a boost from SFL’s previous quarterly dividend of $0.24. SFL’s dividend payout ratio (DPR) is 121.52%.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the company. Citigroup upped their price objective on SFL from $9.50 to $10.00 and gave the stock a “neutral” rating in a report on Friday, August 18th. TheStreet upgraded SFL from a “c” rating to a “b-” rating in a report on Friday, August 18th. StockNews.com initiated coverage on SFL in a report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Pareto Securities cut SFL from a “buy” rating to a “hold” rating and set a $11.00 target price for the company. in a report on Friday, August 18th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, SFL has an average rating of “Hold” and an average price target of $11.00.
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.
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