Safe Bulkers (NYSE:SB) Shares Pass Above 200-Day Moving Average of $3.29

Safe Bulkers, Inc. (NYSE:SB – Get Rating) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.29 and traded as high as $3.56. Safe Bulkers shares last traded at $3.36, with a volume of 874,314 shares.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SB. StockNews.com began coverage on shares of Safe Bulkers in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Jefferies Financial Group reissued a “hold” rating and set a $3.00 price target on shares of Safe Bulkers in a research report on Thursday, February 16th. Finally, TheStreet raised shares of Safe Bulkers from a “c” rating to a “b-” rating in a research report on Thursday, May 11th.

Safe Bulkers Trading Down 4.7 %

The business has a fifty day moving average of $3.63 and a 200-day moving average of $3.29. The stock has a market capitalization of $408.71 million, a price-to-earnings ratio of 2.71 and a beta of 0.88. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.10 and a quick ratio of 2.10.

Safe Bulkers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 7th. Shareholders of record on Friday, May 26th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, May 25th. This represents a $0.20 dividend on an annualized basis and a yield of 5.95%. Safe Bulkers’s payout ratio is presently 16.13%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SB. Ethic Inc. bought a new stake in shares of Safe Bulkers in the third quarter worth about $26,000. Financial Advocates Investment Management acquired a new stake in Safe Bulkers during the 4th quarter worth approximately $29,000. Price T Rowe Associates Inc. MD bought a new position in Safe Bulkers during the 3rd quarter worth $31,000. Welch Group LLC bought a new position in shares of Safe Bulkers in the 1st quarter valued at $37,000. Finally, Advisor Group Holdings Inc. grew its position in Safe Bulkers by 1,074.3% during the 1st quarter. Advisor Group Holdings Inc. now owns 8,220 shares of the shipping company’s stock worth $39,000 after acquiring an additional 7,520 shares during the last quarter. 25.95% of the stock is owned by institutional investors.

Safe Bulkers Company Profile

(Get Rating)

Safe Bulkers, Inc provides international marine drybulk transportation services. The firm offers transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the world’s largest users of marine drybulk transportation services. The company was founded on December 11, 2007 and is headquartered in Les Acanthes, Monaco.