Connor Clark & Lunn Investment Management Ltd. Purchases 170,044 Shares of SFL Co. Ltd. (NYSE:SFL)

Connor Clark & Lunn Investment Management Ltd. boosted its position in SFL Co. Ltd. (NYSE:SFL) by 39.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 601,356 shares of the shipping company’s stock after acquiring an additional 170,044 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in SFL were worth $6,146,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SFL. Barclays PLC raised its holdings in shares of SFL by 239.3% during the 3rd quarter. Barclays PLC now owns 168,908 shares of the shipping company’s stock worth $1,954,000 after buying an additional 119,131 shares in the last quarter. Geode Capital Management LLC raised its stake in SFL by 4.8% during the third quarter. Geode Capital Management LLC now owns 1,441,688 shares of the shipping company’s stock worth $16,680,000 after acquiring an additional 66,096 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of SFL in the fourth quarter worth about $809,000. Wealthstar Advisors LLC acquired a new stake in shares of SFL in the 4th quarter valued at approximately $569,000. Finally, Empowered Funds LLC grew its holdings in shares of SFL by 5.1% during the 4th quarter. Empowered Funds LLC now owns 737,851 shares of the shipping company’s stock valued at $7,541,000 after purchasing an additional 35,972 shares during the last quarter. 28.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SFL has been the subject of several research reports. Fearnley Fonds upgraded shares of SFL from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. StockNews.com downgraded SFL from a “hold” rating to a “sell” rating in a report on Thursday, February 13th.

SFL Stock Up 2.8 %

Shares of NYSE SFL opened at $8.34 on Friday. The company has a 50 day simple moving average of $9.97 and a 200 day simple moving average of $10.53. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.38 and a quick ratio of 0.50. SFL Co. Ltd. has a 1 year low of $8.06 and a 1 year high of $14.62. The firm has a market cap of $1.15 billion, a PE ratio of 8.25 and a beta of 0.67.

SFL Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 12.96%. The ex-dividend date of this dividend is Wednesday, March 12th. SFL’s dividend payout ratio is currently 106.93%.

SFL Company 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.