SFL (NYSE:SFL) Sees Unusually-High Trading Volume - Here's What Happened

SFL Co. Ltd. (NYSE:SFL - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 1,612,832 shares traded hands during mid-day trading, an increase of 51% from the previous session's volume of 1,069,285 shares.The stock last traded at $8.88 and had previously closed at $8.78.

SFL Stock Up 0.2%

The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.50 and a current ratio of 0.38. The firm's 50-day moving average is $8.27 and its two-hundred day moving average is $9.21. The stock has a market cap of $1.25 billion, a P/E ratio of 8.51 and a beta of 0.51.

SFL (NYSE:SFL - Get Free Report) last issued its earnings results on Wednesday, May 14th. The shipping company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04. The company had revenue of $186.74 million during the quarter, compared to analysts' expectations of $183.82 million. SFL had a net margin of 14.45% and a return on equity of 12.41%. The business's revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS.

SFL Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be issued a dividend of $0.27 per share. The ex-dividend date is Thursday, June 12th. This represents a $1.08 annualized dividend and a yield of 12.57%. SFL's dividend payout ratio is presently 263.41%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SFL. Signaturefd LLC raised its stake in shares of SFL by 831.8% in the 4th quarter. Signaturefd LLC now owns 2,870 shares of the shipping company's stock valued at $29,000 after purchasing an additional 2,562 shares during the period. Quarry LP lifted its position in SFL by 183.6% during the first quarter. Quarry LP now owns 3,706 shares of the shipping company's stock worth $30,000 after acquiring an additional 2,399 shares during the last quarter. Jones Financial Companies Lllp lifted its position in SFL by 41.9% during the fourth quarter. Jones Financial Companies Lllp now owns 3,220 shares of the shipping company's stock worth $33,000 after acquiring an additional 950 shares during the last quarter. Sterling Capital Management LLC lifted its position in SFL by 883.5% during the fourth quarter. Sterling Capital Management LLC now owns 3,275 shares of the shipping company's stock worth $33,000 after acquiring an additional 2,942 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in SFL by 636.8% during the first quarter. GAMMA Investing LLC now owns 4,723 shares of the shipping company's stock worth $39,000 after acquiring an additional 4,082 shares during the last quarter. 28.59% of the stock is currently owned by institutional investors.

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.