Safe Bulkers (NYSE:SB) Rating Increased to Buy at DNB Markets

DNB Markets upgraded shares of Safe Bulkers (NYSE:SB) from a hold rating to a buy rating in a research note issued to investors on Monday morning, Marketbeat Ratings reports. DNB Markets currently has $4.20 price objective on the shipping company’s stock.

SB has been the topic of a number of other research reports. StockNews.com upgraded Safe Bulkers from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Safe Bulkers in a research note on Thursday, November 14th.

Safe Bulkers Stock Performance

Shares of SB stock opened at $3.48 on Monday. 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 $371.05 million, a price-to-earnings ratio of 3.86 and a beta of 0.93. Safe Bulkers has a one year low of $3.31 and a one year high of $6.33. The company has a 50 day moving average price of $3.69 and a 200 day moving average price of $4.44.

Safe Bulkers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Monday, December 2nd were given a dividend of $0.05 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.20 dividend on an annualized basis and a yield of 5.76%. Safe Bulkers’s dividend payout ratio (DPR) is 22.22%.

Institutional Investors Weigh In On Safe Bulkers

A number of large investors have recently modified their holdings of SB. Segall Bryant & Hamill LLC purchased a new stake in Safe Bulkers during the 3rd quarter worth $1,480,000. Walleye Capital LLC acquired a new position in shares of Safe Bulkers in the third quarter worth about $1,109,000. Public Employees Retirement System of Ohio acquired a new position in shares of Safe Bulkers in the third quarter worth about $492,000. Barclays PLC boosted its holdings in Safe Bulkers by 83.4% in the third quarter. Barclays PLC now owns 125,238 shares of the shipping company’s stock valued at $648,000 after purchasing an additional 56,946 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Safe Bulkers by 107.0% during the 3rd quarter. Franklin Resources Inc. now owns 82,417 shares of the shipping company’s stock valued at $427,000 after purchasing an additional 42,598 shares in the last quarter. Institutional investors and hedge funds own 21.69% of the company’s stock.

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.