Goldman Sachs Group Inc. Cuts Stock Position in SFL Corporation Ltd. $SFL

Key Points

• Goldman Sachs Group Inc. reduced its position in SFL Corporation Ltd. by 21.5%, now holding 545,075 shares worth approximately $4.47 million as of the first quarter.
• Various institutional investors have increased their stakes in SFL, with Quarry LP boosting its ownership by 183.6% and GAMMA Investing LLC by 636.8% during the same period.
• SFL Corporation Ltd. recently cut its quarterly dividend to $0.20, reflecting a high dividend payout ratio of 307.69% and an annual yield of 9.9%.

Goldman Sachs Group Inc. reduced its position in shares of SFL Corporation Ltd. (NYSE:SFL - Free Report) by 21.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 545,075 shares of the shipping company's stock after selling 149,238 shares during the period. Goldman Sachs Group Inc. owned approximately 0.37% of SFL worth $4,470,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP lifted its stake in SFL by 183.6% in the first quarter. Quarry LP now owns 3,706 shares of the shipping company's stock worth $30,000 after purchasing an additional 2,399 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of SFL by 636.8% during the first quarter. GAMMA Investing LLC now owns 4,723 shares of the shipping company's stock valued at $39,000 after acquiring an additional 4,082 shares during the last quarter. Farther Finance Advisors LLC raised its stake in SFL by 39.6% in the first quarter. Farther Finance Advisors LLC now owns 5,986 shares of the shipping company's stock worth $49,000 after buying an additional 1,698 shares in the last quarter. Bessemer Group Inc. bought a new position in SFL in the first quarter worth about $76,000. Finally, Paragon Capital Management Inc. bought a new position in SFL in the first quarter worth about $94,000. 28.59% of the stock is currently owned by hedge funds and other institutional investors.

SFL Trading Down 2.5%

SFL stock traded down $0.20 during trading on Friday, reaching $7.86. The company had a trading volume of 1,914,374 shares, compared to its average volume of 1,079,007. SFL Corporation Ltd. has a 52 week low of $6.78 and a 52 week high of $11.85. The company has a market cap of $1.15 billion, a P/E ratio of 30.23 and a beta of 0.54. The business has a 50 day moving average of $8.68 and a 200 day moving average of $8.47. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.30 and a quick ratio of 0.30.

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

SFL Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, September 12th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, September 12th. This represents a $0.80 dividend on an annualized basis and a yield of 10.2%. SFL's dividend payout ratio is 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.