Dynamic Technology Lab Private Ltd Takes $440,000 Position in SFL Corporation Ltd. $SFL

Key Points

• Dynamic Technology Lab Private Ltd acquired a new stake in SFL Corporation Ltd, purchasing 53,688 shares valued at approximately $440,000.
• SFL Corporation recently reported a quarterly earnings of $0.01 EPS, with revenue of $192.59 million, exceeding analysts' expectations, and a dividend cut resulting in a yield of 9.6%.
• The company's debt-to-equity ratio stands at 1.97, with shares currently trading at $8.31, showing a 52-week range between $6.78 and $11.85.

Dynamic Technology Lab Private Ltd bought a new stake in shares of SFL Corporation Ltd. (NYSE:SFL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 53,688 shares of the shipping company's stock, valued at approximately $440,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of SFL by 150.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,618,303 shares of the shipping company's stock valued at $21,470,000 after acquiring an additional 1,574,696 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in SFL by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 1,314,878 shares of the shipping company's stock worth $10,782,000 after purchasing an additional 69,667 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in SFL by 27.6% in the fourth quarter. Nuveen Asset Management LLC now owns 947,311 shares of the shipping company's stock worth $9,682,000 after purchasing an additional 204,884 shares in the last quarter. Northern Trust Corp raised its holdings in SFL by 17.5% in the fourth 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. Finally, Victory Capital Management Inc. raised its holdings in SFL by 45.1% in the first 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. Institutional investors own 28.59% of the company's stock.

SFL Stock Up 2.2%

SFL traded up $0.18 during trading on Wednesday, reaching $8.14. The stock had a trading volume of 142,548 shares, compared to its average volume of 1,231,158. The stock's 50 day moving average is $8.74 and its two-hundred day moving average is $8.49. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 31.33 and a beta of 0.54. SFL Corporation Ltd. has a one year low of $6.78 and a one year high of $11.85.

SFL (NYSE:SFL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 19th. The shipping company reported $0.01 earnings per share (EPS) for the quarter. SFL had a return on equity of 6.67% and a net margin of 3.97%.The business had revenue of $192.59 million during the quarter, compared to the consensus estimate of $192.40 million. During the same quarter in the prior year, the company earned $0.16 earnings per share. The firm's quarterly revenue 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 issued a dividend of $0.20 per share. The ex-dividend date 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 presently 307.69%.

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.