Millennium Management LLC Sells 257,533 Shares of SFL Co. Ltd. (NYSE:SFL)

Millennium Management LLC reduced its holdings in SFL Co. Ltd. (NYSE:SFL - Free Report) by 56.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 200,699 shares of the shipping company's stock after selling 257,533 shares during the quarter. Millennium Management LLC owned about 0.14% of SFL worth $2,051,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in shares of SFL by 2,095.5% during the 4th quarter. Victory Capital Management Inc. now owns 450,311 shares of the shipping company's stock valued at $4,602,000 after purchasing an additional 429,800 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of SFL by 39.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 601,356 shares of the shipping company's stock valued at $6,146,000 after buying an additional 170,044 shares during the last quarter. Vanguard Group Inc. boosted its position in SFL by 8.7% during 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. Northern Trust Corp lifted its holdings in shares of SFL by 17.5% during the 4th 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 during the last quarter. Finally, Jackson Creek Investment Advisors LLC purchased a new position in shares of SFL during the 4th quarter valued at about $1,342,000. Institutional investors and hedge funds own 28.59% of the company's stock.

SFL Stock Performance

NYSE SFL traded down $0.01 during trading hours on Thursday, hitting $8.68. 684,310 shares of the stock were exchanged, compared to its average volume of 1,059,245. SFL Co. Ltd. has a 12-month low of $6.78 and a 12-month high of $14.14. The company has a quick ratio of 0.50, a current ratio of 0.38 and a debt-to-equity ratio of 1.91. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 8.59 and a beta of 0.51. The stock has a 50-day moving average of $8.15 and a 200 day moving average of $9.30.

SFL (NYSE:SFL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The shipping company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.04. SFL had a net margin of 14.45% and a return on equity of 12.41%. The company had revenue of $186.74 million for the quarter, compared to analyst estimates of $183.82 million. During the same quarter last year, the business earned $0.36 EPS. SFL's revenue for the quarter was down 18.5% on a year-over-year basis.

SFL Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 12.45%. The ex-dividend date of this dividend is Thursday, June 12th. SFL's dividend payout ratio is currently 263.41%.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of SFL from a "hold" rating to a "sell" rating in a research note on Thursday, February 13th.

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.