Federated Hermes Inc. Cuts Stock Position in SFL Co. Ltd. (NYSE:SFL)

Federated Hermes Inc. decreased its holdings in shares of SFL Co. Ltd. (NYSE:SFL) by 49.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,733 shares of the shipping company’s stock after selling 13,320 shares during the quarter. Federated Hermes Inc.’s holdings in SFL were worth $155,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in SFL. Tennessee Valley Asset Management Partners acquired a new position in shares of SFL during the fourth quarter worth about $25,000. Nisa Investment Advisors LLC lifted its position in SFL by 14.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 40,690 shares of the shipping company’s stock worth $459,000 after acquiring an additional 5,200 shares in the last quarter. RKL Wealth Management LLC purchased a new position in SFL in the 4th quarter worth approximately $282,000. Mirae Asset Global Investments Co. Ltd. grew its position in 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 acquiring an additional 564,675 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of SFL by 1,021.5% during 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 purchasing an additional 599,029 shares during the period. 28.59% of the stock is owned by hedge funds and other institutional investors.

SFL Stock Down 0.9 %

SFL stock opened at $13.51 on Monday. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 1.65. The firm has a 50 day simple moving average of $13.15 and a 200-day simple moving average of $12.12. The company has a market capitalization of $1.87 billion, a P/E ratio of 20.47 and a beta of 0.65. SFL Co. Ltd. has a twelve month low of $8.43 and a twelve month high of $13.74.

SFL (NYSE:SFL) last announced its quarterly earnings data on Wednesday, February 14th. The shipping company reported $0.30 earnings per share for the quarter. The company had revenue of $209.57 million during the quarter. SFL had a net margin of 11.16% and a return on equity of 8.04%.

SFL Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 7.70%. This is an increase from SFL’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, March 14th. SFL’s dividend payout ratio (DPR) is 157.58%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. BTIG Research upped their target price on shares of SFL from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. StockNews.com cut shares of SFL from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $12.00.

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.