Bank of New York Mellon Corp Has $561,000 Stock Holdings in Safe Bulkers, Inc. (NYSE:SB)

Bank of New York Mellon Corp trimmed its holdings in Safe Bulkers, Inc. (NYSE:SB) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 157,060 shares of the shipping company’s stock after selling 5,056 shares during the quarter. Bank of New York Mellon Corp owned about 0.15% of Safe Bulkers worth $561,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Intech Investment Management LLC acquired a new position in shares of Safe Bulkers during the third quarter worth approximately $86,000. Ballentine Partners LLC acquired a new stake in shares of Safe Bulkers in the 4th quarter valued at $89,000. SG Americas Securities LLC increased its stake in shares of Safe Bulkers by 19.6% in the 4th quarter. SG Americas Securities LLC now owns 25,204 shares of the shipping company’s stock valued at $90,000 after buying an additional 4,122 shares during the period. Verition Fund Management LLC raised its position in shares of Safe Bulkers by 27.0% during the third quarter. Verition Fund Management LLC now owns 18,400 shares of the shipping company’s stock worth $95,000 after acquiring an additional 3,913 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Safe Bulkers by 120.5% during the third quarter. Victory Capital Management Inc. now owns 39,558 shares of the shipping company’s stock valued at $205,000 after acquiring an additional 21,619 shares during the period. Institutional investors and hedge funds own 21.69% of the company’s stock.

Safe Bulkers Stock Up 0.4 %

Shares of NYSE SB opened at $3.76 on Friday. Safe Bulkers, Inc. has a 52-week low of $3.31 and a 52-week high of $6.33. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.91. The stock has a market cap of $395.40 million, a P/E ratio of 4.52 and a beta of 0.94. The firm has a 50 day moving average price of $3.66 and a 200 day moving average price of $4.02.

Safe Bulkers (NYSE:SB) last announced its quarterly earnings results on Tuesday, February 18th. The shipping company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. The company had revenue of $69.16 million during the quarter, compared to analyst estimates of $71.90 million. Safe Bulkers had a net margin of 31.65% and a return on equity of 10.04%. Analysts expect that Safe Bulkers, Inc. will post 0.62 EPS for the current year.

Safe Bulkers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 3rd were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.20 annualized dividend and a dividend yield of 5.33%. Safe Bulkers’s dividend payout ratio (DPR) is currently 24.10%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SB. Loop Capital set a $4.20 price objective on Safe Bulkers in a report on Monday, January 27th. StockNews.com lowered shares of Safe Bulkers from a “buy” rating to a “hold” rating in a report on Monday, January 27th. DNB Markets raised shares of Safe Bulkers from a “hold” rating to a “buy” rating and set a $4.20 target price for the company in a report on Monday, January 27th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $6.00 price target on shares of Safe Bulkers in a research note on Wednesday, February 19th.

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.