Rhumbline Advisers boosted its stake in shares of Ship Finance International Limited (NYSE:SFL) by 129.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 349,978 shares of the shipping company’s stock after acquiring an additional 197,644 shares during the period. Rhumbline Advisers owned 0.29% of Ship Finance International worth $4,865,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Amalgamated Bank acquired a new stake in Ship Finance International in the 2nd quarter valued at approximately $169,000. Engineers Gate Manager LP grew its holdings in Ship Finance International by 91.2% in the 2nd quarter. Engineers Gate Manager LP now owns 102,225 shares of the shipping company’s stock valued at $1,528,000 after buying an additional 48,756 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Ship Finance International by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,990,056 shares of the shipping company’s stock valued at $44,702,000 after buying an additional 58,348 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Ship Finance International by 860,000.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 86,010 shares of the shipping company’s stock valued at $1,286,000 after buying an additional 86,000 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in Ship Finance International by 26.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 407,709 shares of the shipping company’s stock valued at $6,096,000 after buying an additional 85,143 shares during the last quarter. 29.20% of the stock is owned by institutional investors.
Shares of SFL stock opened at $12.75 on Friday. 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 Limited has a 12 month low of $11.50 and a 12 month high of $15.98. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 11.38 and a beta of 1.21.
Ship Finance International (NYSE:SFL) last announced its quarterly earnings data on Tuesday, November 20th. The shipping company reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.08. Ship Finance International had a return on equity of 9.68% and a net margin of 22.77%. The company had revenue of $111.00 million during the quarter, compared to the consensus estimate of $114.96 million. During the same quarter last year, the company earned $0.31 EPS. The company’s quarterly revenue was up 18.5% on a year-over-year basis. On average, equities research analysts forecast that Ship Finance International Limited will post 0.94 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Wednesday, December 12th will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, December 11th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 10.98%. Ship Finance International’s dividend payout ratio is currently 117.65%.
A number of analysts have issued reports on the company. Zacks Investment Research lowered Ship Finance International from a “hold” rating to a “sell” rating in a report on Saturday, August 25th. TheStreet lowered Ship Finance International from a “b” rating to a “c+” rating in a report on Thursday, August 23rd. Nordea Equity Research raised Ship Finance International from a “hold” rating to a “buy” rating in a report on Thursday, September 6th. ValuEngine lowered Ship Finance International from a “hold” rating to a “sell” rating in a report on Thursday, September 13th. Finally, UBS Group raised Ship Finance International from a “sell” rating to a “buy” rating in a report on Thursday, November 29th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $15.38.
About Ship Finance International
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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