Safe Bulkers, Inc. (NYSE:SB) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its position in Safe Bulkers, Inc. (NYSE:SB) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,834 shares of the shipping company’s stock after selling 3,023 shares during the quarter. Rhumbline Advisers owned approximately 0.10% of Safe Bulkers worth $610,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Banque Cantonale Vaudoise grew its holdings in shares of Safe Bulkers by 14.4% during the second quarter. Banque Cantonale Vaudoise now owns 16,863 shares of the shipping company’s stock worth $98,000 after buying an additional 2,129 shares during the last quarter. Principal Financial Group Inc. increased its holdings 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 valued at $377,000 after purchasing an additional 6,056 shares during the period. Bailard Inc. acquired a new position in shares of Safe Bulkers in the second quarter valued at approximately $254,000. Tidal Investments LLC raised its stake in shares of Safe Bulkers by 14.8% during the first quarter. Tidal Investments LLC now owns 50,203 shares of the shipping company’s stock worth $249,000 after purchasing an additional 6,457 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 worth $99,000 after purchasing an additional 4,129 shares during the period. 21.69% of the stock is currently owned by hedge funds and other institutional investors.

Safe Bulkers Stock Performance

Shares of SB opened at $5.14 on Wednesday. The stock has a market capitalization of $548.77 million, a P/E ratio of 7.56 and a beta of 0.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.11 and a current ratio of 2.11. Safe Bulkers, Inc. has a 1 year low of $3.10 and a 1 year high of $6.33. The company’s fifty day moving average is $5.00 and its two-hundred day moving average is $5.25.

Safe Bulkers (NYSE:SB) last issued its earnings results on Monday, July 29th. The shipping company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $78.55 million during the quarter, compared to analysts’ expectations of $69.16 million. Safe Bulkers had a net margin of 31.11% and a return on equity of 10.78%. During the same period in the previous year, the firm earned $0.12 EPS. On average, sell-side analysts predict that Safe Bulkers, Inc. will post 0.86 earnings per share for the current year.

Safe Bulkers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were paid a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.89%. Safe Bulkers’s dividend payout ratio (DPR) is presently 29.41%.

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.