SFL Co. Ltd. (NYSE:SFL) Shares Purchased by Northern Trust Corp

Northern Trust Corp raised its position in SFL Co. Ltd. (NYSE:SFL) by 17.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 910,484 shares of the shipping company’s stock after acquiring an additional 135,768 shares during the period. Northern Trust Corp owned approximately 0.66% of SFL worth $9,305,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SFL. Vanguard Group Inc. lifted its holdings in shares of SFL by 8.7% in the 4th quarter. Vanguard Group Inc. now owns 1,862,370 shares of the shipping company’s stock valued at $19,033,000 after buying an additional 149,020 shares during the period. Geode Capital Management LLC boosted its stake in SFL by 9.0% in the 4th quarter. Geode Capital Management LLC now owns 1,571,430 shares of the shipping company’s stock worth $16,060,000 after buying an additional 129,742 shares during the last quarter. Empowered Funds LLC increased its position in SFL by 5.1% during the fourth quarter. Empowered Funds LLC now owns 737,851 shares of the shipping company’s stock worth $7,541,000 after purchasing an additional 35,972 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in 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 worth $6,146,000 after purchasing an additional 170,044 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of SFL by 2,095.5% in 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 last quarter. Hedge funds and other institutional investors own 28.59% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of SFL from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th.

SFL Trading Up 0.7%

Shares of SFL opened at $8.79 on Friday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.50 and a current ratio of 0.38. SFL Co. Ltd. has a one year low of $6.78 and a one year high of $14.62. The stock has a 50-day moving average price of $8.06 and a 200 day moving average price of $9.47. The company has a market capitalization of $1.28 billion, a P/E ratio of 8.70 and a beta of 0.47.

SFL (NYSE:SFL) last issued its earnings results on Wednesday, May 14th. The shipping company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $186.74 million for 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%.

SFL Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be given a $0.27 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.08 dividend on an annualized basis and a yield of 12.29%. SFL’s dividend payout ratio is presently 106.93%.

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.