International Assets Investment Management LLC Lowers Stock Holdings in SFL Co. Ltd. (NYSE:SFL)

International Assets Investment Management LLC lowered its holdings in SFL Co. Ltd. (NYSE:SFL - Free Report) by 90.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,303 shares of the shipping company's stock after selling 737,136 shares during the period. International Assets Investment Management LLC owned approximately 0.05% of SFL worth $775,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in SFL by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,441,688 shares of the shipping company's stock valued at $16,680,000 after purchasing an additional 66,096 shares in the last quarter. Barclays PLC raised its holdings in SFL by 239.3% in the third quarter. Barclays PLC now owns 168,908 shares of the shipping company's stock valued at $1,954,000 after acquiring an additional 119,131 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in SFL in the third quarter worth approximately $34,000. Y Intercept Hong Kong Ltd acquired a new position in SFL during the 3rd quarter worth approximately $296,000. Finally, State Street Corp increased its position in shares of SFL by 2.5% in the 3rd quarter. State Street Corp now owns 2,074,341 shares of the shipping company's stock valued at $24,000,000 after purchasing an additional 51,022 shares during the last quarter. 28.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

SFL Stock Up 2.1 %

SFL stock traded up $0.22 during mid-day trading on Friday, hitting $10.84. The company had a trading volume of 1,112,687 shares, compared to its average volume of 953,448. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 1.93. SFL Co. Ltd. has a 1 year low of $9.64 and a 1 year high of $14.62. The business has a fifty day moving average of $10.37 and a 200 day moving average of $11.38. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 9.77 and a beta of 0.67.

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

SFL Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.27 per share. The ex-dividend date was Friday, December 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 9.96%. SFL's dividend payout ratio (DPR) is presently 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.