Algert Global LLC Increases Stock Position in Safe Bulkers, Inc. (NYSE:SB)

Algert Global LLC increased its position in Safe Bulkers, Inc. (NYSE:SB) by 42.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,403 shares of the shipping company’s stock after buying an additional 7,520 shares during the quarter. Algert Global LLC’s holdings in Safe Bulkers were worth $91,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC acquired a new stake in Safe Bulkers during the fourth quarter worth about $64,000. Two Sigma Securities LLC acquired a new stake in Safe Bulkers during the 4th quarter worth approximately $84,000. Dynamic Technology Lab Private Ltd acquired a new stake in Safe Bulkers during the 4th quarter worth approximately $86,000. Price T Rowe Associates Inc. MD raised its holdings in Safe Bulkers by 23.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,293 shares of the shipping company’s stock valued at $87,000 after buying an additional 4,680 shares during the period. Finally, Sage Investment Counsel LLC acquired a new position in Safe Bulkers during the fourth quarter valued at approximately $89,000. Institutional investors and hedge funds own 21.69% of the company’s stock.

Analysts Set New Price Targets

SB has been the subject of a number of research reports. DNB Markets raised shares of Safe Bulkers from a “hold” rating to a “buy” rating and set a $4.20 price target for the company in a research report on Monday, January 27th. StockNews.com downgraded Safe Bulkers from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. Loop Capital set a $4.20 target price on Safe Bulkers in a report on Monday, January 27th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $6.00 price target on shares of Safe Bulkers in a research report on Wednesday, February 19th.

Safe Bulkers Stock Up 1.7%

Shares of Safe Bulkers stock opened at $3.61 on Wednesday. Safe Bulkers, Inc. has a 1-year low of $3.02 and a 1-year high of $6.33. The company has a market capitalization of $380.13 million, a PE ratio of 4.35 and a beta of 1.17. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.91 and a quick ratio of 1.34. The business has a 50-day moving average of $3.51 and a 200-day moving average of $3.68.

Safe Bulkers (NYSE:SB) last issued its quarterly earnings data on Tuesday, February 18th. The shipping company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Safe Bulkers had a return on equity of 10.04% and a net margin of 31.65%. The firm had revenue of $69.16 million during the quarter, compared to analyst estimates of $71.90 million. As a group, equities analysts forecast that Safe Bulkers, Inc. will post 0.62 EPS for the current fiscal year.

Safe Bulkers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 3rd were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date of this dividend was Monday, March 3rd. Safe Bulkers’s payout ratio is currently 24.10%.

Safe Bulkers Profile

Safe Bulkers, Inc, together with its subsidiaries, provides marine drybulk transportation services. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. The company has a fleet of 47 drybulk vessels having an aggregate carrying capacity of 4,719,600 deadweight tons.