International Assets Investment Management LLC Purchases 11,308 Shares of SFL Corporation Ltd. $SFL

International Assets Investment Management LLC grew its position in SFL Corporation Ltd. (NYSE:SFL) by 10.7% during the second quarter, Holdings Channel reports. The institutional investor owned 117,045 shares of the shipping company’s stock after acquiring an additional 11,308 shares during the quarter. International Assets Investment Management LLC’s holdings in SFL were worth $975,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. DAVENPORT & Co LLC raised its position in shares of SFL by 9.3% in the 2nd quarter. DAVENPORT & Co LLC now owns 13,722 shares of the shipping company’s stock valued at $114,000 after purchasing an additional 1,166 shares during the last quarter. Signaturefd LLC raised its position in SFL by 65.3% during the 2nd quarter. Signaturefd LLC now owns 3,392 shares of the shipping company’s stock worth $28,000 after buying an additional 1,340 shares during the last quarter. Brighton Jones LLC raised its position in SFL by 8.2% during the 4th quarter. Brighton Jones LLC now owns 19,395 shares of the shipping company’s stock worth $198,000 after buying an additional 1,474 shares during the last quarter. Farther Finance Advisors LLC raised its position in SFL by 39.6% during the 1st quarter. Farther Finance Advisors LLC now owns 5,986 shares of the shipping company’s stock worth $49,000 after buying an additional 1,698 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in SFL by 43.1% during the 2nd quarter. Parallel Advisors LLC now owns 6,010 shares of the shipping company’s stock worth $50,000 after buying an additional 1,810 shares during the last quarter. 28.59% of the stock is owned by hedge funds and other institutional investors.

SFL Stock Up 0.5%

Shares of SFL opened at $7.02 on Tuesday. The firm has a market cap of $1.02 billion, a P/E ratio of 26.98 and a beta of 0.49. SFL Corporation Ltd. has a 12-month low of $6.73 and a 12-month high of $11.38. The company’s 50-day moving average price is $7.91 and its 200 day moving average price is $8.34. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 1.97.

SFL (NYSE:SFL) last issued its quarterly earnings results on Tuesday, August 19th. The shipping company reported $0.01 earnings per share (EPS) for the quarter. SFL had a net margin of 3.97% and a return on equity of 6.67%. The company had revenue of $192.59 million for the quarter, compared to analyst estimates of $192.40 million. During the same period in the prior year, the firm earned $0.16 earnings per share. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year.

SFL Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, September 12th were paid a $0.20 dividend. The ex-dividend date was Friday, September 12th. This represents a $0.80 dividend on an annualized basis and a yield of 11.4%. SFL’s payout ratio is currently 307.69%.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SFL in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

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.