Charles Schwab Investment Management Inc. Cuts Position in SFL Co. Ltd. (NYSE:SFL)

Charles Schwab Investment Management Inc. reduced its holdings in shares of SFL Co. Ltd. (NYSE:SFL - Free Report) by 16.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 757,455 shares of the shipping company's stock after selling 144,754 shares during the period. Charles Schwab Investment Management Inc. owned about 0.55% of SFL worth $8,764,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SFL. Commonwealth Equity Services LLC increased its stake in shares of SFL by 3.2% during the second quarter. Commonwealth Equity Services LLC now owns 29,908 shares of the shipping company's stock worth $415,000 after buying an additional 919 shares during the period. Brighton Jones LLC increased its holdings in shares of SFL by 6.8% in the 2nd quarter. Brighton Jones LLC now owns 20,508 shares of the shipping company's stock valued at $285,000 after acquiring an additional 1,301 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of SFL by 11.4% during the third quarter. Victory Capital Management Inc. now owns 20,511 shares of the shipping company's stock worth $237,000 after acquiring an additional 2,104 shares during the last quarter. Kohmann Bosshard Financial Services LLC increased its position in SFL by 25.0% in the 3rd quarter. Kohmann Bosshard Financial Services LLC now owns 12,500 shares of the shipping company's stock valued at $145,000 after acquiring an additional 2,500 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of SFL by 1,375.3% during the third quarter. Farther Finance Advisors LLC now owns 4,293 shares of the shipping company's stock worth $50,000 after purchasing an additional 4,002 shares during the last quarter. 28.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Pareto Securities raised shares of SFL from a "hold" rating to a "buy" rating in a report on Tuesday, August 20th. Fearnley Fonds raised SFL from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 21st.

SFL Price Performance

Shares of NYSE:SFL traded down $0.19 on Wednesday, hitting $10.39. The company had a trading volume of 853,742 shares, compared to its average volume of 840,268. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 1.93. SFL Co. Ltd. has a 52-week low of $10.01 and a 52-week high of $14.62. The business has a 50 day moving average of $10.85 and a 200 day moving average of $11.90. The company has a market cap of $1.44 billion, a PE ratio of 9.53 and a beta of 0.67.

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

SFL Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 10.39%. The ex-dividend date is Friday, December 13th. SFL's payout ratio is 97.30%.

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.