Advisors Asset Management Inc. lifted its holdings in Ship Finance International Limited (NYSE:SFL) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 181,421 shares of the shipping company’s stock after buying an additional 4,053 shares during the period. Advisors Asset Management Inc. owned approximately 0.15% of Ship Finance International worth $2,712,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Fund Management S.A. bought a new stake in shares of Ship Finance International in the 2nd quarter worth approximately $774,000. Albert D Mason Inc. raised its holdings in shares of Ship Finance International by 18.9% in the 2nd quarter. Albert D Mason Inc. now owns 74,155 shares of the shipping company’s stock worth $1,109,000 after purchasing an additional 11,785 shares during the period. Martingale Asset Management L P bought a new stake in shares of Ship Finance International in the 2nd quarter worth approximately $2,243,000. Canada Pension Plan Investment Board raised its holdings in shares of Ship Finance International by 860,000.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 86,010 shares of the shipping company’s stock worth $1,286,000 after purchasing an additional 86,000 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of Ship Finance International by 2.5% in the 1st quarter. BlackRock Inc. now owns 2,792,346 shares of the shipping company’s stock worth $39,930,000 after purchasing an additional 67,853 shares during the period. Hedge funds and other institutional investors own 31.11% of the company’s stock.
Shares of SFL stock opened at $13.60 on Thursday. The company has a current ratio of 0.50, a quick ratio of 0.66 and a debt-to-equity ratio of 0.95. Ship Finance International Limited has a 1 year low of $13.50 and a 1 year high of $15.98. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 11.43 and a beta of 1.20.
Ship Finance International (NYSE:SFL) last issued its earnings results on Wednesday, August 22nd. The shipping company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.10. Ship Finance International had a net margin of 23.55% and a return on equity of 9.40%. The business had revenue of $96.80 million for the quarter, compared to analysts’ expectations of $101.65 million. During the same quarter in the previous year, the firm posted $0.35 EPS. sell-side analysts expect that Ship Finance International Limited will post 1.11 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Friday, September 14th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.40 dividend on an annualized basis and a yield of 10.29%. Ship Finance International’s payout ratio is 117.65%.
A number of research firms recently commented on SFL. ValuEngine cut shares of Ship Finance International from a “hold” rating to a “sell” rating in a report on Thursday, September 13th. TheStreet cut shares of Ship Finance International from a “b” rating to a “c+” rating in a report on Thursday, August 23rd. Nordea Equity Research raised shares of Ship Finance International from a “hold” rating to a “buy” rating in a report on Thursday, September 6th. Zacks Investment Research cut shares of Ship Finance International from a “strong-buy” rating to a “sell” rating in a report on Tuesday, August 7th. Finally, Seaport Global Securities raised shares of Ship Finance International from a “neutral” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Friday, June 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $16.13.
About Ship Finance International
Ship Finance International Limited owns and operates vessels and offshore related assets primarily in Bermuda, Cyprus, Malta, Liberia, Norway, the United Kingdom, and the Marshall Islands. It is also involved in the charter, purchase, and sale of assets. In addition, the company operates in various sectors of the shipping and offshore industry, including oil transportation, dry bulk shipments, chemical transportation, oil product transportation, container transportation, car transportation, drilling rigs, and offshore supply vessels.
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