Intech Investment Management LLC Acquires New Stake in Safe Bulkers, Inc. (NYSE:SB)

Intech Investment Management LLC bought a new stake in Safe Bulkers, Inc. (NYSE:SB) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,512 shares of the shipping company’s stock, valued at approximately $86,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Banque Cantonale Vaudoise increased its stake in shares of Safe Bulkers by 14.4% in 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. Price T Rowe Associates Inc. MD grew its holdings in Safe Bulkers by 26.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,945 shares of the shipping company’s stock valued at $99,000 after purchasing an additional 4,129 shares during the period. Cubist Systematic Strategies LLC increased its position in Safe Bulkers by 27.9% in the second quarter. Cubist Systematic Strategies LLC now owns 25,567 shares of the shipping company’s stock worth $149,000 after buying an additional 5,572 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Safe Bulkers by 10.3% in the second quarter. Principal Financial Group Inc. now owns 64,745 shares of the shipping company’s stock worth $377,000 after buying an additional 6,056 shares during the period. Finally, Tidal Investments LLC lifted its position in shares of Safe Bulkers by 14.8% during the 1st quarter. Tidal Investments LLC now owns 50,203 shares of the shipping company’s stock valued at $249,000 after buying an additional 6,457 shares in the last quarter. 21.69% of the stock is owned by hedge funds and other institutional investors.

Safe Bulkers Stock Performance

Shares of NYSE:SB opened at $3.84 on Monday. The firm has a fifty day simple moving average of $4.36 and a two-hundred day simple moving average of $5.00. Safe Bulkers, Inc. has a 52 week low of $3.62 and a 52 week high of $6.33. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $410.04 million, a P/E ratio of 4.27 and a beta of 0.91.

Safe Bulkers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend is Monday, December 2nd. Safe Bulkers’s payout ratio is 22.22%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. StockNews.com downgraded shares of Safe Bulkers from a “buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Jefferies Financial Group reiterated a “buy” rating and issued a $6.00 price target on shares of Safe Bulkers in a research note on Thursday, November 14th.

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.