Safe Bulkers (NYSE:SB) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Safe Bulkers (NYSE:SB) from a buy rating to a hold rating in a report published on Wednesday morning.

Safe Bulkers Stock Performance

Shares of SB stock opened at $4.27 on Wednesday. The company’s 50 day moving average is $4.61 and its 200 day moving average is $5.15. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.58. The firm has a market cap of $455.91 million, a price-to-earnings ratio of 4.74 and a beta of 0.95. Safe Bulkers has a 52-week low of $3.45 and a 52-week high of $6.33.

Safe Bulkers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Monday, December 2nd will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend is Monday, December 2nd. Safe Bulkers’s dividend payout ratio (DPR) is currently 22.22%.

Hedge Funds Weigh In On Safe Bulkers

A number of large investors have recently added to or reduced their stakes in SB. Acadian Asset Management LLC lifted its position in shares of Safe Bulkers by 135.2% during the first quarter. Acadian Asset Management LLC now owns 1,898,533 shares of the shipping company’s stock valued at $9,408,000 after buying an additional 1,091,277 shares during the last quarter. LSV Asset Management grew its holdings in Safe Bulkers by 440.7% in the second quarter. LSV Asset Management now owns 552,357 shares of the shipping company’s stock worth $3,215,000 after purchasing an additional 450,209 shares during the last quarter. Denali Advisors LLC increased its position in shares of Safe Bulkers by 316.6% during the second quarter. Denali Advisors LLC now owns 418,300 shares of the shipping company’s stock worth $2,435,000 after purchasing an additional 317,900 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Safe Bulkers during the 3rd quarter valued at $1,480,000. Finally, Walleye Capital LLC acquired a new stake in shares of Safe Bulkers in the 3rd quarter worth $1,109,000. 21.69% of the stock is currently owned by institutional investors.

Safe Bulkers Company 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.