SBI Securities Co. Ltd. Makes New Investment in SFL Co. Ltd. (NYSE:SFL)

SBI Securities Co. Ltd. acquired a new stake in SFL Co. Ltd. (NYSE:SFL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 79,164 shares of the shipping company’s stock, valued at approximately $809,000.

Several other large investors have also recently added to or reduced their stakes in the business. State Street Corp grew its holdings in SFL by 2.5% in the 3rd quarter. State Street Corp now owns 2,074,341 shares of the shipping company’s stock valued at $24,000,000 after buying an additional 51,022 shares during the period. Geode Capital Management LLC boosted its position 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 acquiring an additional 66,096 shares during the last quarter. Empowered Funds LLC increased its position in SFL by 5.1% during the fourth quarter. Empowered Funds LLC now owns 737,851 shares of the shipping company’s stock worth $7,541,000 after purchasing an additional 35,972 shares during the last quarter. PDT Partners LLC raised its stake in SFL by 25.3% during the third quarter. PDT Partners LLC now owns 260,858 shares of the shipping company’s stock worth $3,018,000 after purchasing an additional 52,644 shares during the period. Finally, Rhumbline Advisers raised its stake in SFL by 0.7% during the fourth quarter. Rhumbline Advisers now owns 215,235 shares of the shipping company’s stock worth $2,200,000 after purchasing an additional 1,596 shares during the period. 28.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SFL. Fearnley Fonds raised 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 research report on Thursday, February 13th.

SFL Price Performance

SFL opened at $8.73 on Tuesday. SFL Co. Ltd. has a 52-week low of $8.66 and a 52-week high of $14.62. The company has a 50 day moving average of $10.26 and a two-hundred day moving average of $10.72. The company has a market cap of $1.21 billion, a P/E ratio of 8.64 and a beta of 0.66. The company has a quick ratio of 0.50, a current ratio of 0.38 and a debt-to-equity ratio of 1.91.

SFL Dividend Announcement

The business also recently declared 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 of this dividend is Wednesday, March 12th. This represents a $1.08 annualized dividend and a yield of 12.37%. SFL’s dividend payout ratio is currently 106.93%.

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.