Geode Capital Management LLC Acquires 66,096 Shares of SFL Co. Ltd. (NYSE:SFL)

Geode Capital Management LLC increased its holdings in SFL Co. Ltd. (NYSE:SFL - Free Report) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,441,688 shares of the shipping company's stock after purchasing an additional 66,096 shares during the quarter. Geode Capital Management LLC owned approximately 1.04% of SFL worth $16,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Barclays PLC raised its holdings in SFL by 239.3% in the 3rd quarter. Barclays PLC now owns 168,908 shares of the shipping company's stock worth $1,954,000 after purchasing an additional 119,131 shares in the last quarter. Renaissance Technologies LLC raised its stake in SFL by 8.8% in the second quarter. Renaissance Technologies LLC now owns 1,276,865 shares of the shipping company's stock worth $17,723,000 after buying an additional 103,600 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in SFL by 151.8% in the second quarter. Acadian Asset Management LLC now owns 321,211 shares of the shipping company's stock worth $4,449,000 after buying an additional 193,648 shares during the period. American Century Companies Inc. boosted its position in SFL by 19.8% during the 2nd quarter. American Century Companies Inc. now owns 2,803,656 shares of the shipping company's stock valued at $38,915,000 after acquiring an additional 462,789 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in shares of SFL during the 2nd quarter worth approximately $1,139,000. Hedge funds and other institutional investors own 28.59% of the company's stock.

SFL Stock Down 0.9 %

NYSE SFL traded down $0.09 during trading hours on Monday, reaching $10.00. 1,243,735 shares of the company's stock traded hands, compared to its average volume of 850,829. SFL Co. Ltd. has a 52-week low of $9.64 and a 52-week high of $14.62. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.50 and a quick ratio of 0.50. The firm has a 50-day simple moving average of $10.45 and a 200 day simple moving average of $11.54. The firm has a market cap of $1.39 billion, a PE ratio of 9.01 and a beta of 0.67.

SFL (NYSE:SFL - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). The company had revenue of $255.30 million during the quarter, compared to analysts' expectations of $243.98 million. SFL had a return on equity of 14.61% and a net margin of 16.03%. SFL's revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 EPS.

SFL Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 10.80%. The ex-dividend date was Friday, December 13th. SFL's dividend payout ratio (DPR) is presently 97.30%.

Wall Street Analyst Weigh In

Separately, Fearnley Fonds upgraded SFL from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 21st.

SFL Profile

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.