Cutler Capital Management LLC Purchases 37,220 Shares of SFL Co. Ltd. (NYSE:SFL)

Cutler Capital Management LLC lifted its holdings in shares of SFL Co. Ltd. (NYSE:SFL - Free Report) by 11.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 349,683 shares of the shipping company's stock after purchasing an additional 37,220 shares during the quarter. SFL makes up about 1.2% of Cutler Capital Management LLC's holdings, making the stock its 29th biggest position. Cutler Capital Management LLC owned approximately 0.25% of SFL worth $3,574,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Victory Capital Management Inc. lifted its holdings in SFL by 2,095.5% in the 4th quarter. Victory Capital Management Inc. now owns 450,311 shares of the shipping company's stock worth $4,602,000 after purchasing an additional 429,800 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of SFL by 39.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 601,356 shares of the shipping company's stock worth $6,146,000 after buying an additional 170,044 shares during the period. Vanguard Group Inc. grew its stake in SFL by 8.7% in the 4th quarter. Vanguard Group Inc. now owns 1,862,370 shares of the shipping company's stock valued at $19,033,000 after buying an additional 149,020 shares during the last quarter. Jackson Creek Investment Advisors LLC bought a new position in SFL in the 4th quarter worth $1,342,000. Finally, Geode Capital Management LLC boosted its holdings in SFL by 9.0% during the fourth quarter. Geode Capital Management LLC now owns 1,571,430 shares of the shipping company's stock valued at $16,060,000 after acquiring an additional 129,742 shares during the period. Institutional investors own 28.59% of the company's stock.

SFL Stock Performance

Shares of SFL stock traded down $0.17 during midday trading on Monday, hitting $7.55. The company had a trading volume of 336,213 shares, compared to its average volume of 1,003,623. The stock has a market cap of $1.10 billion, a PE ratio of 7.48 and a beta of 0.57. SFL Co. Ltd. has a 1-year low of $6.78 and a 1-year high of $14.62. The business's 50 day simple moving average is $8.76 and its two-hundred day simple moving average is $10.01. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.38 and a quick ratio of 0.50.

SFL Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $1.08 annualized dividend and a dividend yield of 14.30%. SFL's payout ratio is 106.93%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered SFL from a "hold" rating to a "sell" rating in a research note 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.