SFL (NYSE:SFL) Sets New 52-Week Low – What’s Next?

SFL Co. Ltd. (NYSE:SFL) shares reached a new 52-week low on Thursday . The company traded as low as $7.90 and last traded at $7.98, with a volume of 273181 shares traded. The stock had previously closed at $8.24.

Analyst Ratings Changes

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

SFL Stock Performance

The company has a debt-to-equity ratio of 1.91, a current ratio of 0.38 and a quick ratio of 0.50. The firm’s 50-day moving average price is $9.33 and its 200-day moving average price is $10.25. The stock has a market cap of $1.15 billion, a P/E ratio of 7.83 and a beta of 0.67.

SFL Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 13.65%. The ex-dividend date was Wednesday, March 12th. SFL’s dividend payout ratio (DPR) is presently 106.93%.

Institutional Trading of SFL

Several hedge funds have recently modified their holdings of the company. Intech Investment Management LLC bought a new position in shares of SFL in the 3rd quarter valued at about $357,000. The Manufacturers Life Insurance Company raised its holdings in SFL by 3.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 44,472 shares of the shipping company’s stock valued at $515,000 after buying an additional 1,418 shares during the period. Quantbot Technologies LP bought a new stake in SFL in the third quarter worth $271,000. FMR LLC increased its position in SFL by 5.4% during the third quarter. FMR LLC now owns 54,392 shares of the shipping company’s stock valued at $629,000 after acquiring an additional 2,770 shares during the last quarter. Finally, MetLife Investment Management LLC raised its stake in shares of SFL by 2.4% in the third quarter. MetLife Investment Management LLC now owns 65,785 shares of the shipping company’s stock valued at $761,000 after acquiring an additional 1,515 shares during the period. 28.59% of the stock is owned by hedge funds and other institutional investors.

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.