Connor Clark & Lunn Investment Management Ltd. Has $4.99 Million Stock Holdings in SFL Co. Ltd. (NYSE:SFL)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in SFL Co. Ltd. (NYSE:SFL) by 1.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 431,312 shares of the shipping company’s stock after selling 6,281 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.31% of SFL worth $4,990,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Albert D Mason Inc. boosted its position in SFL by 1.5% in the 2nd quarter. Albert D Mason Inc. now owns 51,472 shares of the shipping company’s stock valued at $714,000 after buying an additional 777 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in SFL by 3.2% in the second quarter. Commonwealth Equity Services LLC now owns 29,908 shares of the shipping company’s stock valued at $415,000 after acquiring an additional 919 shares during the last quarter. Brighton Jones LLC increased its position in SFL by 6.8% in the second quarter. Brighton Jones LLC now owns 20,508 shares of the shipping company’s stock worth $285,000 after purchasing an additional 1,301 shares during the period. ProShare Advisors LLC raised its holdings in SFL by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 20,699 shares of the shipping company’s stock worth $273,000 after purchasing an additional 1,629 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in SFL by 11.4% during the 3rd quarter. Victory Capital Management Inc. now owns 20,511 shares of the shipping company’s stock valued at $237,000 after purchasing an additional 2,104 shares during the period. Institutional investors own 28.59% of the company’s stock.

SFL Price Performance

Shares of SFL opened at $10.99 on Friday. The stock has a market cap of $1.52 billion, a P/E ratio of 9.90 and a beta of 0.68. SFL Co. Ltd. has a 1 year low of $10.01 and a 1 year high of $14.62. The stock’s 50-day moving average price is $11.05 and its two-hundred day moving average price is $12.22. 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 (NYSE:SFL) last released its quarterly earnings data on Wednesday, November 6th. The shipping company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). SFL had a return on equity of 14.61% and a net margin of 16.03%. The firm had revenue of $255.30 million for the quarter, compared to the consensus estimate of $243.98 million. During the same period in the previous year, the business earned $0.23 EPS. The firm’s revenue was up 24.6% compared to the same quarter last year.

SFL Dividend Announcement

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 given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 9.83%. The ex-dividend date is Friday, December 13th. SFL’s dividend payout ratio is currently 97.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SFL shares. Pareto Securities upgraded shares of SFL from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Fearnley Fonds raised shares of SFL from a “hold” rating to a “strong-buy” rating in a report on Thursday.

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.