Rhumbline Advisers boosted its holdings in shares of Ship Finance International Limited (NYSE:SFL) by 129.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 349,978 shares of the shipping company’s stock after purchasing an additional 197,644 shares during the period. Rhumbline Advisers’ holdings in Ship Finance International were worth $4,865,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in SFL. Amalgamated Bank acquired a new stake in Ship Finance International during the 2nd quarter valued at $169,000. Trilogy Capital Inc. acquired a new stake in Ship Finance International during the 2nd quarter valued at $219,000. Moody National Bank Trust Division increased its holdings in Ship Finance International by 34.5% during the 3rd quarter. Moody National Bank Trust Division now owns 20,680 shares of the shipping company’s stock valued at $288,000 after purchasing an additional 5,300 shares in the last quarter. Macquarie Group Ltd. increased its holdings in Ship Finance International by 1,180.3% during the 2nd quarter. Macquarie Group Ltd. now owns 26,400 shares of the shipping company’s stock valued at $395,000 after purchasing an additional 24,338 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its holdings in Ship Finance International by 84.3% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 27,107 shares of the shipping company’s stock valued at $405,000 after purchasing an additional 12,397 shares in the last quarter. 29.20% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on SFL. Zacks Investment Research raised Ship Finance International from a “sell” rating to a “hold” rating in a report on Thursday, September 13th. TheStreet cut Ship Finance International from a “b” rating to a “c+” rating in a report on Thursday, August 23rd. ValuEngine cut Ship Finance International from a “hold” rating to a “sell” rating in a report on Thursday, September 13th. Nordea Equity Research raised Ship Finance International from a “hold” rating to a “buy” rating in a report on Thursday, September 6th. Finally, UBS Group raised Ship Finance International from a “sell” rating to a “buy” rating in a report on Thursday, November 29th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Ship Finance International has a consensus rating of “Hold” and an average price target of $15.38.
SFL stock opened at $12.75 on Friday. The firm has a market cap of $1.56 billion, a P/E ratio of 11.38 and a beta of 1.21. Ship Finance International Limited has a fifty-two week low of $11.50 and a fifty-two week high of $15.98. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.10.
Ship Finance International (NYSE:SFL) last released its earnings results on Tuesday, November 20th. The shipping company reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.08. The company had revenue of $111.00 million during the quarter, compared to analysts’ expectations of $114.96 million. Ship Finance International had a return on equity of 9.68% and a net margin of 22.77%. The business’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period last year, the firm earned $0.31 EPS. As a group, equities research analysts expect that Ship Finance International Limited will post 0.94 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Wednesday, December 12th will be paid a $0.35 dividend. The ex-dividend date is Tuesday, December 11th. This represents a $1.40 annualized dividend and a dividend yield of 10.98%. Ship Finance International’s dividend payout ratio (DPR) is currently 117.65%.
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Ship Finance International Company Profile
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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