Public Employees Retirement System of Ohio Acquires New Position in SFL Co. Ltd. (NYSE:SFL)

Public Employees Retirement System of Ohio bought a new position in SFL Co. Ltd. (NYSE:SFL) during the third quarter, Holdings Channel.com reports. The institutional investor bought 2,948 shares of the shipping company’s stock, valued at approximately $34,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Quarry LP increased its holdings in shares of SFL by 428.2% in the third quarter. Quarry LP now owns 3,967 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 3,216 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in SFL in the 3rd quarter valued at $49,000. Farther Finance Advisors LLC increased its stake in shares of SFL by 1,375.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,293 shares of the shipping company’s stock worth $50,000 after acquiring an additional 4,002 shares during the last quarter. Millburn Ridgefield Corp purchased a new position in shares of SFL during the 3rd quarter worth $92,000. Finally, Verition Fund Management LLC purchased a new position in shares of SFL during the 3rd quarter worth $141,000. 28.59% of the stock is currently owned by institutional investors and hedge funds.

SFL Price Performance

SFL stock opened at $9.74 on Monday. SFL Co. Ltd. has a 52-week low of $9.64 and a 52-week high of $14.62. The business has a fifty day moving average of $10.58 and a two-hundred day moving average of $11.68. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 8.77 and a beta of 0.67. 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 (NYSE:SFL) last issued its quarterly earnings data on Wednesday, November 6th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the firm posted $0.23 earnings per share. The firm’s quarterly revenue was up 24.6% on a year-over-year basis.

SFL Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.08 annualized dividend and a dividend yield of 11.09%. SFL’s dividend payout ratio is currently 97.30%.

Wall Street Analysts Forecast Growth

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

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.