100,400 Shares in Safe Bulkers, Inc. (NYSE:SB) Purchased by Denali Advisors LLC

Denali Advisors LLC purchased a new position in shares of Safe Bulkers, Inc. (NYSE:SB) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 100,400 shares of the shipping company’s stock, valued at approximately $498,000. Denali Advisors LLC owned approximately 0.09% of Safe Bulkers as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Counterpoint Mutual Funds LLC acquired a new position in Safe Bulkers during the 1st quarter worth $135,000. Los Angeles Capital Management LLC increased its stake in shares of Safe Bulkers by 63.3% during the first quarter. Los Angeles Capital Management LLC now owns 459,112 shares of the shipping company’s stock worth $2,277,000 after buying an additional 177,940 shares during the period. Quadrature Capital Ltd acquired a new stake in Safe Bulkers in the fourth quarter valued at approximately $385,000. Tower Research Capital LLC TRC lifted its stake in Safe Bulkers by 432.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,031 shares of the shipping company’s stock worth $59,000 after acquiring an additional 12,210 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. purchased a new position in Safe Bulkers in the fourth quarter worth approximately $46,000. Hedge funds and other institutional investors own 21.69% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Safe Bulkers from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st.

Safe Bulkers Stock Performance

Shares of Safe Bulkers stock opened at $6.16 on Thursday. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.63. Safe Bulkers, Inc. has a 52 week low of $2.97 and a 52 week high of $6.33. The firm’s 50 day moving average is $5.63 and its two-hundred day moving average is $4.85. The firm has a market capitalization of $657.11 million, a P/E ratio of 9.05 and a beta of 0.92.

Safe Bulkers (NYSE:SB) last announced its quarterly earnings results on Tuesday, April 30th. The shipping company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). The company had revenue of $81.67 million for the quarter. Safe Bulkers had a return on equity of 10.29% and a net margin of 27.85%. During the same quarter in the prior year, the company earned $0.10 EPS. Research analysts forecast that Safe Bulkers, Inc. will post 0.86 EPS for the current fiscal year.

Safe Bulkers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Friday, May 17th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.20 dividend on an annualized basis and a yield of 3.25%. Safe Bulkers’s dividend payout ratio is presently 29.41%.

About Safe Bulkers

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.