Charles Schwab Investment Management Inc. Sells 150,294 Shares of SFL Corporation Ltd. $SFL

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in SFL Corporation Ltd. by 23.8%, owning approximately 0.33% of the company after selling 150,294 shares.
• Several institutional investors, including GAMMA Investing LLC and Farther Finance Advisors LLC, have increased their positions in SFL, indicating a varied approach among investors.
• SFL Corporation announced a quarterly dividend of $0.20, resulting in a yield of 9.7%; however, its dividend payout ratio stands at an unusually high 415.38%.

Charles Schwab Investment Management Inc. cut its stake in shares of SFL Corporation Ltd. (NYSE:SFL - Free Report) by 23.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 481,849 shares of the shipping company's stock after selling 150,294 shares during the period. Charles Schwab Investment Management Inc. owned about 0.33% of SFL worth $3,951,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Nuveen Asset Management LLC grew its stake in shares of SFL by 27.6% in the 4th quarter. Nuveen Asset Management LLC now owns 947,311 shares of the shipping company's stock worth $9,682,000 after acquiring an additional 204,884 shares in the last quarter. Victory Capital Management Inc. grew its position in SFL by 45.1% in the 1st quarter. Victory Capital Management Inc. now owns 653,547 shares of the shipping company's stock worth $5,359,000 after purchasing an additional 203,236 shares in the last quarter. Northern Trust Corp grew its position in SFL by 17.5% in the 4th quarter. Northern Trust Corp now owns 910,484 shares of the shipping company's stock worth $9,305,000 after purchasing an additional 135,768 shares in the last quarter. Sigma Planning Corp increased its stake in SFL by 803.8% in the 1st quarter. Sigma Planning Corp now owns 123,535 shares of the shipping company's stock valued at $1,013,000 after buying an additional 109,866 shares during the last quarter. Finally, Collar Capital Management LLC bought a new position in shares of SFL during the 4th quarter worth approximately $780,000. 28.59% of the stock is owned by hedge funds and other institutional investors.

SFL Stock Performance

Shares of NYSE SFL traded down $0.05 during midday trading on Tuesday, reaching $8.09. The company's stock had a trading volume of 542,130 shares, compared to its average volume of 1,241,193. The stock has a market capitalization of $1.18 billion, a P/E ratio of 31.06 and a beta of 0.55. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.30 and a quick ratio of 0.45. The firm has a 50 day moving average price of $8.86 and a 200-day moving average price of $8.57. SFL Corporation Ltd. has a 12-month low of $6.78 and a 12-month high of $11.85.

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

SFL Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, September 12th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date is Friday, September 12th. SFL's payout ratio is presently 415.38%.

SFL Company 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.