Pinnacle Associates Ltd. held its stake in Ship Finance International Limited (NYSE:SFL) during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 16,225 shares of the shipping company’s stock at the close of the 2nd quarter. Pinnacle Associates Ltd.’s holdings in Ship Finance International Limited were worth $221,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of Ship Finance International Limited by 7.1% during the first quarter. Bank of New York Mellon Corp now owns 2,602,909 shares of the shipping company’s stock worth $38,263,000 after acquiring an additional 172,927 shares during the last quarter. State Street Corp grew its stake in shares of Ship Finance International Limited by 13.5% during the first quarter. State Street Corp now owns 1,184,359 shares of the shipping company’s stock worth $17,413,000 after acquiring an additional 140,650 shares during the last quarter. Doheny Asset Management CA grew its stake in shares of Ship Finance International Limited by 2.1% during the first quarter. Doheny Asset Management CA now owns 626,609 shares of the shipping company’s stock worth $9,211,000 after acquiring an additional 13,000 shares during the last quarter. Global X Management Co. LLC grew its stake in shares of Ship Finance International Limited by 4.8% during the second quarter. Global X Management Co. LLC now owns 625,502 shares of the shipping company’s stock worth $8,507,000 after acquiring an additional 28,613 shares during the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Ship Finance International Limited by 3.9% during the second quarter. Prudential Financial Inc. now owns 459,149 shares of the shipping company’s stock worth $6,244,000 after acquiring an additional 17,340 shares during the last quarter. Institutional investors and hedge funds own 24.33% of the company’s stock.

Shares of Ship Finance International Limited (NYSE:SFL) opened at 13.25 on Monday. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 9.59 and a beta of 1.36. Ship Finance International Limited has a 12 month low of $12.07 and a 12 month high of $16.10. The company has a 50-day moving average price of $13.52 and a 200-day moving average price of $13.78.

Ship Finance International Limited (NYSE:SFL) last released its quarterly earnings results on Wednesday, August 30th. The shipping company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The firm had revenue of $94.22 million for the quarter, compared to the consensus estimate of $95.70 million. Ship Finance International Limited had a return on equity of 11.26% and a net margin of 29.59%. On average, analysts expect that Ship Finance International Limited will post $1.10 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.40 dividend on an annualized basis and a yield of 10.57%. Ship Finance International Limited’s dividend payout ratio is presently 146.34%.

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SFL has been the topic of a number of research analyst reports. ValuEngine lowered Ship Finance International Limited from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Jefferies Group LLC upgraded Ship Finance International Limited to a “hold” rating and set a $15.00 price target on the stock in a research note on Monday, June 5th. BidaskClub upgraded Ship Finance International Limited from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Finally, Zacks Investment Research lowered Ship Finance International Limited from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $15.50.

About Ship Finance International Limited

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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Institutional Ownership by Quarter for Ship Finance International Limited (NYSE:SFL)

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