Rhumbline Advisers Has $1.35 Million Stock Holdings in SFL Co. Ltd. (NYSE:SFL)

Rhumbline Advisers cut its stake in SFL Co. Ltd. (NYSE:SFL) by 4.6% during the second quarter, HoldingsChannel reports. The fund owned 176,833 shares of the shipping company’s stock after selling 8,463 shares during the quarter. Rhumbline Advisers’ holdings in SFL were worth $1,353,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. bought a new stake in SFL in the first quarter worth $83,000. CWA Asset Management Group LLC bought a new stake in SFL in the first quarter worth $88,000. Ethic Inc. bought a new stake in SFL in the first quarter worth $94,000. GSA Capital Partners LLP bought a new stake in SFL in the second quarter worth $112,000. Finally, Level Four Advisory Services LLC boosted its holdings in SFL by 24.0% in the first quarter. Level Four Advisory Services LLC now owns 14,713 shares of the shipping company’s stock worth $118,000 after purchasing an additional 2,851 shares in the last quarter. 30.17% of the stock is currently owned by institutional investors and hedge funds.

NYSE SFL opened at $7.93 on Friday. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.06 and a current ratio of 1.08. The firm has a 50-day simple moving average of $7.56 and a 200 day simple moving average of $7.91. SFL Co. Ltd. has a twelve month low of $5.85 and a twelve month high of $9.05. The stock has a market cap of $1.02 billion, a PE ratio of -8.62 and a beta of 1.08.

SFL (NYSE:SFL) last released its earnings results on Thursday, August 19th. The shipping company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.03). SFL had a negative net margin of 21.52% and a positive return on equity of 9.91%. The company had revenue of $116.80 million during the quarter, compared to the consensus estimate of $112.69 million. During the same quarter in the previous year, the business posted $0.11 EPS. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. Research analysts forecast that SFL Co. Ltd. will post 0.55 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 29th. Investors of record on Wednesday, September 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 7.57%. The ex-dividend date is Tuesday, September 14th. SFL’s payout ratio is presently 68.18%.

A number of equities research analysts recently issued reports on SFL shares. Zacks Investment Research cut shares of SFL from a “buy” rating to a “hold” rating in a report on Tuesday, August 24th. Jefferies Financial Group upgraded shares of SFL from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a report on Thursday, August 19th. Finally, DNB Markets upgraded shares of SFL from a “hold” rating to a “buy” rating in a report on Thursday, August 19th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $9.17.

SFL Profile

SFL Corp. Ltd. engages in the ownership and operation of vessels and offshore related assets. It also involves in the charter, purchase, and sale of assets. It operate through subsidiaries located in Bermuda, Cyprus, Malta, Liberia, Norway, the United Kingdom, and the Marshall Islands. The company was founded on October 10, 2003 and is headquartered in Hamilton, Bermuda.

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Institutional Ownership by Quarter for SFL (NYSE:SFL)

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