Doheny Asset Management CA boosted its stake in SFL Co. Ltd. (NYSE:SFL - Free Report) by 99.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 242,524 shares of the shipping company's stock after purchasing an additional 120,624 shares during the period. SFL comprises approximately 2.7% of Doheny Asset Management CA's portfolio, making the stock its 11th largest position. Doheny Asset Management CA owned 0.18% of SFL worth $2,736,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in shares of SFL by 9.3% in the third quarter. American Century Companies Inc. now owns 1,556,099 shares of the shipping company's stock worth $17,351,000 after acquiring an additional 131,903 shares in the last quarter. International Assets Investment Management LLC lifted its position in SFL by 1,021.5% in the fourth quarter. International Assets Investment Management LLC now owns 657,672 shares of the shipping company's stock valued at $7,419,000 after acquiring an additional 599,029 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of SFL by 23.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 498,249 shares of the shipping company's stock valued at $5,555,000 after buying an additional 95,502 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of SFL by 10.4% in the third quarter. Federated Hermes Inc. now owns 27,053 shares of the shipping company's stock valued at $302,000 after buying an additional 2,547 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of SFL by 64.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,437,802 shares of the shipping company's stock valued at $16,218,000 after buying an additional 564,675 shares during the last quarter. Institutional investors and hedge funds own 28.59% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on SFL. StockNews.com cut shares of SFL from a "buy" rating to a "hold" rating in a report on Wednesday, March 20th. BTIG Research increased their price target on shares of SFL from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $12.00.
Get Our Latest Report on SFL
SFL Price Performance
SFL traded up $0.38 on Thursday, hitting $13.64. 624,627 shares of the company were exchanged, compared to its average volume of 711,936. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.30 and a current ratio of 0.31. The business's fifty day moving average is $13.13 and its 200 day moving average is $12.08. SFL Co. Ltd. has a fifty-two week low of $8.43 and a fifty-two week high of $13.74. The firm has a market capitalization of $1.89 billion, a P/E ratio of 20.65 and a beta of 0.65.
SFL (NYSE:SFL - Get Free Report) last issued its earnings results on Wednesday, February 14th. The shipping company reported $0.30 earnings per share for the quarter. SFL had a net margin of 11.16% and a return on equity of 8.04%. The company had revenue of $209.57 million for the quarter.
SFL Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.26 per share. This is a positive change from SFL's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 7.62%. The ex-dividend date of this dividend was Thursday, March 14th. SFL's dividend payout ratio is presently 157.58%.
SFL Company Profile
(
Free Report)
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.
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