Jacobs Levy Equity Management Inc. Invests $830,000 in SFL Corporation Ltd. $SFL

Key Points

• Jacobs Levy Equity Management Inc. acquired 101,275 shares of SFL Corporation Ltd., worth approximately $830,000, marking a new position in the company.
• SFL has announced a quarterly dividend of $0.20 per share, with a high yield of 10.0%, despite a significant payout ratio of 415.38%.
• The company's stock currently trades at $8.01, with a 52-week range between $6.78 and $11.85, and reported a return on equity of 6.67%.

Jacobs Levy Equity Management Inc. acquired a new position in shares of SFL Corporation Ltd. (NYSE:SFL - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 101,275 shares of the shipping company's stock, valued at approximately $830,000. Jacobs Levy Equity Management Inc. owned 0.07% of SFL at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Quarry LP lifted its holdings in shares of SFL by 183.6% during the 1st quarter. Quarry LP now owns 3,706 shares of the shipping company's stock worth $30,000 after acquiring an additional 2,399 shares during the period. GAMMA Investing LLC lifted its holdings in shares of SFL by 636.8% during the 1st quarter. GAMMA Investing LLC now owns 4,723 shares of the shipping company's stock worth $39,000 after acquiring an additional 4,082 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of SFL by 39.6% during the 1st quarter. Farther Finance Advisors LLC now owns 5,986 shares of the shipping company's stock worth $49,000 after acquiring an additional 1,698 shares during the period. Bessemer Group Inc. purchased a new position in shares of SFL during the 1st quarter worth about $76,000. Finally, Paragon Capital Management Inc. purchased a new position in shares of SFL during the 1st quarter worth about $94,000. 28.59% of the stock is currently owned by hedge funds and other institutional investors.

SFL Trading Down 0.3%

NYSE SFL traded down $0.03 during mid-day trading on Thursday, hitting $8.07. The company's stock had a trading volume of 1,015,203 shares, compared to its average volume of 1,138,552. SFL Corporation Ltd. has a 52-week low of $6.78 and a 52-week high of $11.85. The stock's fifty day simple moving average is $8.71 and its two-hundred day simple moving average is $8.48. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market capitalization of $1.18 billion, a P/E ratio of 31.02 and a beta of 0.54.

SFL (NYSE:SFL - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The shipping company reported $0.01 EPS for the quarter. SFL had a net margin of 3.97% and a return on equity of 6.67%. The firm had revenue of $192.59 million for the quarter, compared to analyst estimates of $192.40 million. During the same quarter last year, the firm posted $0.16 earnings per share. SFL's revenue for the quarter was up 1.0% compared to the same quarter last year.

SFL Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, September 12th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 9.9%. SFL's dividend payout ratio (DPR) is presently 307.69%.

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.