Bank of New York Mellon Corp Has $10.78 Million Position in SFL Corporation Ltd. (NYSE:SFL)

Bank of New York Mellon Corp boosted its stake in SFL Corporation Ltd. (NYSE:SFL - Free Report) by 5.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,314,878 shares of the shipping company's stock after acquiring an additional 69,667 shares during the quarter. Bank of New York Mellon Corp owned 0.90% of SFL worth $10,782,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Deutsche Bank AG lifted its position in SFL by 63.1% in the 4th quarter. Deutsche Bank AG now owns 97,240 shares of the shipping company's stock valued at $994,000 after acquiring an additional 37,622 shares in the last quarter. DAVENPORT & Co LLC lifted its position in SFL by 16.2% in the 1st quarter. DAVENPORT & Co LLC now owns 12,556 shares of the shipping company's stock valued at $103,000 after acquiring an additional 1,750 shares in the last quarter. Bessemer Group Inc. bought a new stake in SFL in the 1st quarter valued at $76,000. International Assets Investment Management LLC lifted its position in SFL by 42.3% in the 1st quarter. International Assets Investment Management LLC now owns 105,737 shares of the shipping company's stock valued at $867,000 after acquiring an additional 31,434 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position 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 acquiring an additional 149,020 shares in the last quarter. 28.59% of the stock is owned by institutional investors.

SFL Stock Down 0.1%

SFL traded down $0.01 during trading on Thursday, hitting $9.42. The company had a trading volume of 733,959 shares, compared to its average volume of 1,065,216. The company has a market capitalization of $1.37 billion, a PE ratio of 22.96 and a beta of 0.51. SFL Corporation Ltd. has a one year low of $6.78 and a one year high of $12.09. The firm's 50-day moving average price is $8.77 and its 200 day moving average price is $8.94. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 2.14.

SFL (NYSE:SFL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The shipping company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.04. SFL had a net margin of 6.20% and a return on equity of 8.50%. The firm had revenue of $186.74 million for the quarter, compared to analyst estimates of $183.82 million. During the same period in the previous year, the business earned $0.36 EPS. The company's revenue was down 18.5% compared to the same quarter last year.

SFL Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Thursday, June 12th were paid a $0.27 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $1.08 annualized dividend and a yield of 11.47%. SFL's payout ratio is currently 263.41%.

SFL 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.