Rhumbline Advisers Cuts Holdings in Ship Finance International Limited (SFL)
Rhumbline Advisers decreased its holdings in shares of Ship Finance International Limited (NYSE:SFL) by 48.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,574 shares of the shipping company’s stock after selling 69,084 shares during the quarter. Rhumbline Advisers owned approximately 0.08% of Ship Finance International worth $1,081,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in SFL. Raymond James Financial Services Advisors Inc. acquired a new stake in Ship Finance International during the 2nd quarter valued at $145,000. Stifel Financial Corp increased its position in Ship Finance International by 2.1% during the 2nd quarter. Stifel Financial Corp now owns 11,019 shares of the shipping company’s stock worth $150,000 after buying an additional 226 shares during the period. Principal Financial Group Inc. bought a new position in Ship Finance International during the 3rd quarter worth $154,000. Geneva Advisors LLC increased its position in Ship Finance International by 3.2% during the 2nd quarter. Geneva Advisors LLC now owns 12,735 shares of the shipping company’s stock worth $173,000 after buying an additional 400 shares during the period. Finally, QS Investors LLC bought a new position in Ship Finance International during the 2nd quarter worth $174,000. 33.43% of the stock is owned by institutional investors and hedge funds.
Ship Finance International Limited (NYSE:SFL) traded up $0.10 during mid-day trading on Thursday, reaching $14.90. The company’s stock had a trading volume of 465,500 shares, compared to its average volume of 898,779. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.13. The company has a market cap of $1,383.87, a PE ratio of 11.13 and a beta of 1.41. Ship Finance International Limited has a 1 year low of $12.30 and a 1 year high of $16.10.
Ship Finance International (NYSE:SFL) last posted its quarterly earnings data on Wednesday, November 22nd. The shipping company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.04. The firm had revenue of $93.67 million for the quarter, compared to analysts’ expectations of $97.50 million. Ship Finance International had a return on equity of 11.02% and a net margin of 28.66%. equities research analysts expect that Ship Finance International Limited will post 1.24 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Monday, December 11th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 9.40%. The ex-dividend date is Friday, December 8th. Ship Finance International’s payout ratio is 117.65%.
Several research analysts have weighed in on SFL shares. Zacks Investment Research upgraded Ship Finance International from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Clarkson Capital upgraded Ship Finance International from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.00.
Ship Finance International Company Profile
Ship Finance International Limited is a holding, and international ship owning and chartering company. The Company is engaged in the ownership and operation of vessels and offshore related assets, and also involved in the charter, purchase and sale of assets. Its assets consist of approximately 20 oil tankers, over 20 dry bulk carriers, approximately 20 container vessels, including a newbuilding, two car carriers, two jack-up drilling rigs, two ultra-deepwater drilling units, five offshore supply vessels, two chemical tankers and two newbuilding oil product tankers.
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