SBI Securities Co. Ltd. Buys 22,233 Shares of SFL Corporation Ltd. $SFL

SBI Securities Co. Ltd. lifted its position in SFL Corporation Ltd. (NYSE:SFL) by 23.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,717 shares of the shipping company’s stock after acquiring an additional 22,233 shares during the period. SBI Securities Co. Ltd. owned approximately 0.08% of SFL worth $964,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of SFL in the 1st quarter valued at approximately $440,000. Jacobs Levy Equity Management Inc. bought a new position in shares of SFL in the 1st quarter valued at about $830,000. Baird Financial Group Inc. increased its position in shares of SFL by 26.2% during the 1st quarter. Baird Financial Group Inc. now owns 146,496 shares of the shipping company’s stock worth $1,201,000 after purchasing an additional 30,417 shares during the last quarter. Bank of New York Mellon Corp raised its position in SFL by 5.6% during the first quarter. Bank of New York Mellon Corp now owns 1,314,878 shares of the shipping company’s stock worth $10,782,000 after acquiring an additional 69,667 shares in the last quarter. Finally, Sigma Planning Corp raised its holdings in shares of SFL by 803.8% in the 1st quarter. Sigma Planning Corp now owns 123,535 shares of the shipping company’s stock valued at $1,013,000 after purchasing an additional 109,866 shares during the period. Institutional investors and hedge funds own 28.59% of the company’s stock.

Analyst Upgrades and Downgrades

SFL has been the topic of a number of recent analyst reports. BTIG Research boosted their target price on SFL from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of SFL in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $11.00.

SFL Stock Down 1.4%

Shares of NYSE SFL opened at $8.14 on Friday. The company’s fifty day simple moving average is $7.56 and its 200 day simple moving average is $8.31. SFL Corporation Ltd. has a 12-month low of $6.73 and a 12-month high of $11.14. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 1.97. The firm has a market cap of $1.19 billion, a PE ratio of 31.29 and a beta of 0.45.

SFL (NYSE:SFL) last released its quarterly earnings results on Wednesday, November 5th. The shipping company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. SFL had a net margin of 3.97% and a return on equity of 6.67%. During the same quarter last year, the company earned $0.34 EPS. SFL’s revenue was down 30.2% compared to the same quarter last year.

SFL Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 29th. Investors of record on Friday, December 12th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 9.8%. The ex-dividend date is Friday, December 12th. SFL’s payout ratio is presently 307.69%.

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.