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

SFL Co. Ltd. (NYSE:SFL)’s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $8.06 and last traded at $8.09, with a volume of 576555 shares changing hands. The stock had previously closed at $8.16.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of SFL from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th.

SFL Stock Performance

The stock has a market capitalization of $1.19 billion, a P/E ratio of 8.08 and a beta of 0.67. The company’s fifty day simple moving average is $9.47 and its two-hundred day simple moving average is $10.31. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.50 and a current ratio of 0.38.

SFL Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $1.08 annualized dividend and a yield of 13.23%. SFL’s payout ratio is currently 106.93%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SFL. Victory Capital Management Inc. increased its holdings in shares of SFL by 2,095.5% during the fourth quarter. Victory Capital Management Inc. now owns 450,311 shares of the shipping company’s stock worth $4,602,000 after purchasing an additional 429,800 shares during the period. Nuveen Asset Management LLC increased its stake in SFL by 27.6% during the 4th quarter. Nuveen Asset Management LLC now owns 947,311 shares of the shipping company’s stock worth $9,682,000 after acquiring an additional 204,884 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in SFL by 39.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 601,356 shares of the shipping company’s stock worth $6,146,000 after acquiring an additional 170,044 shares during the period. Vanguard Group Inc. raised its holdings in SFL by 8.7% in the 4th quarter. Vanguard Group Inc. now owns 1,862,370 shares of the shipping company’s stock valued at $19,033,000 after acquiring an additional 149,020 shares in the last quarter. Finally, Northern Trust Corp raised its stake in SFL by 17.5% in the fourth quarter. Northern Trust Corp now owns 910,484 shares of the shipping company’s stock valued at $9,305,000 after purchasing an additional 135,768 shares in the last quarter. Institutional investors own 28.59% of the company’s stock.

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.