American Century Companies Inc. Sells 635,586 Shares of SFL Corporation Ltd. $SFL

Key Points

• American Century Companies Inc. reduced its stake in SFL Corporation Ltd. by 19.7% during the first quarter, owning approximately 1.78% of the company after selling 635,586 shares.
• SFL Corporation recently announced a $0.20 quarterly dividend with a notable annualized yield of 9.6%, although this comes with a high dividend payout ratio of 415.38%.
• Shares of SFL Corporation opened at $8.2950 and have a market capitalization of $1.21 billion, with the stock's 52-week range spanning from $6.78 to $11.93.

American Century Companies Inc. trimmed its position in SFL Corporation Ltd. (NYSE:SFL - Free Report) by 19.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,592,895 shares of the shipping company's stock after selling 635,586 shares during the quarter. American Century Companies Inc. owned approximately 1.78% of SFL worth $21,262,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SFL. Nuveen LLC purchased a new stake in SFL in the first quarter valued at approximately $4,172,000. Nuveen Asset Management LLC raised its stake in SFL by 27.6% in the fourth quarter. Nuveen Asset Management LLC now owns 947,311 shares of the shipping company's stock valued at $9,682,000 after purchasing an additional 204,884 shares in the last quarter. Victory Capital Management Inc. raised its stake in SFL by 45.1% in the first quarter. Victory Capital Management Inc. now owns 653,547 shares of the shipping company's stock valued at $5,359,000 after purchasing an additional 203,236 shares in the last quarter. Northern Trust Corp raised its stake in SFL by 17.5% in the fourth quarter. Northern Trust Corp now owns 910,484 shares of the shipping company's stock valued at $9,305,000 after purchasing an additional 135,768 shares in the last quarter. Finally, Sigma Planning Corp raised its stake in SFL by 803.8% in the first quarter. Sigma Planning Corp now owns 123,535 shares of the shipping company's stock valued at $1,013,000 after purchasing an additional 109,866 shares in the last quarter. 28.59% of the stock is owned by hedge funds and other institutional investors.

SFL Price Performance

SFL traded down $0.09 on Friday, reaching $8.13. The company had a trading volume of 1,143,808 shares, compared to its average volume of 1,749,680. The business has a 50 day simple moving average of $8.87 and a 200 day simple moving average of $8.60. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 31.25 and a beta of 0.56. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.45 and a current ratio of 0.30. SFL Corporation Ltd. has a 52-week low of $6.78 and a 52-week high of $11.93.

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

SFL Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.80 annualized dividend and a dividend yield of 9.8%. SFL's dividend payout ratio (DPR) is 415.38%.

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.