Federated Hermes Inc. Has $155,000 Position in SFL Co. Ltd. (NYSE:SFL)

Federated Hermes Inc. lessened its holdings in shares of SFL Co. Ltd. (NYSE:SFL) by 49.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,733 shares of the shipping company’s stock after selling 13,320 shares during the quarter. Federated Hermes Inc.’s holdings in SFL were worth $155,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SFL. American Century Companies Inc. boosted its holdings in shares of SFL by 9.3% in the third quarter. American Century Companies Inc. now owns 1,556,099 shares of the shipping company’s stock valued at $17,351,000 after buying an additional 131,903 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in SFL by 64.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,437,802 shares of the shipping company’s stock worth $16,218,000 after purchasing an additional 564,675 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in SFL by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,061,666 shares of the shipping company’s stock worth $11,838,000 after purchasing an additional 4,873 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of SFL by 1,021.5% in the 4th quarter. International Assets Investment Management LLC now owns 657,672 shares of the shipping company’s stock valued at $7,419,000 after purchasing an additional 599,029 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of SFL by 23.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 498,249 shares of the shipping company’s stock valued at $5,555,000 after purchasing an additional 95,502 shares in the last quarter. Institutional investors own 28.59% of the company’s stock.

Analysts Set New Price Targets

SFL has been the topic of several recent research reports. BTIG Research lifted their price target on shares of SFL from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. StockNews.com downgraded SFL from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, SFL has an average rating of “Hold” and a consensus price target of $12.00.

SFL Stock Performance

Shares of SFL opened at $13.51 on Monday. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.31 and a quick ratio of 0.30. The firm has a 50-day moving average of $13.15 and a 200-day moving average of $12.12. The company has a market cap of $1.87 billion, a PE ratio of 20.47 and a beta of 0.65. SFL Co. Ltd. has a one year low of $8.43 and a one year high of $13.74.

SFL (NYSE:SFL) last posted its quarterly earnings results on Wednesday, February 14th. The shipping company reported $0.30 EPS for the quarter. SFL had a return on equity of 8.04% and a net margin of 11.16%. The business had revenue of $209.57 million during the quarter.

SFL Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.26 per share. This is an increase from SFL’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.04 annualized dividend and a yield of 7.70%. SFL’s dividend payout ratio (DPR) is currently 157.58%.

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.