Summit Investment Advisors Inc. Has $140,000 Holdings in SFL Co. Ltd. (NYSE:SFL)

Summit Investment Advisors Inc. boosted its position in shares of SFL Co. Ltd. (NYSE:SFL) by 19.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,664 shares of the shipping company’s stock after acquiring an additional 2,218 shares during the period. Summit Investment Advisors Inc.’s holdings in SFL were worth $140,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Advisors Capital Management LLC boosted its stake in SFL by 7.8% during the 4th quarter. Advisors Capital Management LLC now owns 413,976 shares of the shipping company’s stock valued at $4,231,000 after purchasing an additional 29,974 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of SFL by 883.5% during the fourth quarter. Sterling Capital Management LLC now owns 3,275 shares of the shipping company’s stock worth $33,000 after buying an additional 2,942 shares during the last quarter. Cutler Capital Management LLC boosted its position in shares of SFL by 11.9% in the fourth quarter. Cutler Capital Management LLC now owns 349,683 shares of the shipping company’s stock valued at $3,574,000 after acquiring an additional 37,220 shares during the period. Raymond James Financial Inc. bought a new stake in shares of SFL in the fourth quarter valued at approximately $414,000. Finally, Legal & General Group Plc grew its stake in shares of SFL by 22.2% in the fourth quarter. Legal & General Group Plc now owns 19,933 shares of the shipping company’s stock worth $204,000 after acquiring an additional 3,615 shares during the last quarter. 28.59% of the stock is currently owned by institutional investors.

SFL Trading Up 1.2 %

Shares of SFL opened at $7.80 on Thursday. The stock’s 50-day moving average price is $8.31 and its 200 day moving average price is $9.82. The company has a quick ratio of 0.50, a current ratio of 0.38 and a debt-to-equity ratio of 1.91. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 7.72 and a beta of 0.57. SFL Co. Ltd. has a 12-month low of $6.78 and a 12-month high of $14.62.

SFL Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 13.86%. The ex-dividend date of this dividend was Wednesday, March 12th. SFL’s dividend payout ratio is presently 106.93%.

Wall Street Analysts Forecast Growth

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

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.