Safe Bulkers (NYSE:SB) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Safe Bulkers (NYSE:SB) from a buy rating to a hold rating in a research report report published on Tuesday.

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a $6.00 price objective on shares of Safe Bulkers in a research report on Thursday, November 14th.

Safe Bulkers Trading Down 2.3 %

Shares of Safe Bulkers stock opened at $3.99 on Tuesday. The stock has a 50 day moving average of $4.55 and a 200 day moving average of $5.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market capitalization of $425.52 million, a price-to-earnings ratio of 4.43 and a beta of 0.95. Safe Bulkers has a fifty-two week low of $3.45 and a fifty-two week high of $6.33.

Safe Bulkers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Monday, December 2nd will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend is Monday, December 2nd. Safe Bulkers’s dividend payout ratio is currently 22.22%.

Institutional Investors Weigh In On Safe Bulkers

A number of hedge funds and other institutional investors have recently bought and sold shares of SB. nVerses Capital LLC boosted its position in Safe Bulkers by 269.0% during the third quarter. nVerses Capital LLC now owns 10,700 shares of the shipping company’s stock worth $55,000 after acquiring an additional 7,800 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Safe Bulkers during the third quarter worth about $86,000. Banque Cantonale Vaudoise increased its position in Safe Bulkers by 14.4% during the 2nd quarter. Banque Cantonale Vaudoise now owns 16,863 shares of the shipping company’s stock worth $98,000 after purchasing an additional 2,129 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Safe Bulkers in the 3rd quarter valued at $90,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Safe Bulkers during the second quarter worth about $104,000. Institutional investors and hedge funds own 21.69% of the company’s stock.

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.