SFL (NYSE:SFL) Hits New 52-Week Low – Here’s What Happened

SFL Co. Ltd. (NYSE:SFL) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $9.31 and last traded at $9.43, with a volume of 108592 shares. The stock had previously closed at $9.54.

Analysts Set New Price Targets

A number of research analysts recently commented on SFL shares. Fearnley Fonds upgraded SFL from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. StockNews.com cut SFL from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th.

SFL Price Performance

The company’s 50 day moving average is $10.35 and its 200 day moving average is $10.83. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 9.22 and a beta of 0.66. The company has a current ratio of 0.38, a quick ratio of 0.50 and a debt-to-equity ratio of 1.91.

SFL Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 11.59%. The ex-dividend date of this dividend is Wednesday, March 12th. SFL’s dividend payout ratio (DPR) is 106.93%.

Institutional Trading of SFL

A number of institutional investors have recently modified their holdings of the company. State Street Corp raised its holdings in shares of SFL by 2.5% during the third quarter. State Street Corp now owns 2,074,341 shares of the shipping company’s stock worth $24,000,000 after purchasing an additional 51,022 shares during the period. Vanguard Group Inc. boosted its position in shares of SFL by 8.7% during the 4th quarter. Vanguard Group Inc. now owns 1,862,370 shares of the shipping company’s stock valued at $19,033,000 after purchasing an additional 149,020 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of SFL by 9.0% in the fourth quarter. Geode Capital Management LLC now owns 1,571,430 shares of the shipping company’s stock valued at $16,060,000 after buying an additional 129,742 shares in the last quarter. Bridgeway Capital Management LLC raised its position in shares of SFL by 2.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,468,851 shares of the shipping company’s stock worth $15,012,000 after purchasing an additional 35,972 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in SFL by 5.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,043,607 shares of the shipping company’s stock worth $10,666,000 after purchasing an additional 57,934 shares in the last quarter. Hedge funds and other institutional investors own 28.59% of the company’s stock.

SFL Company 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.