Franklin Resources Inc. Purchases 42,598 Shares of Safe Bulkers, Inc. (NYSE:SB)

Franklin Resources Inc. raised its holdings in Safe Bulkers, Inc. (NYSE:SB) by 107.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,417 shares of the shipping company’s stock after buying an additional 42,598 shares during the quarter. Franklin Resources Inc. owned 0.08% of Safe Bulkers worth $427,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. LSV Asset Management raised its holdings in shares of Safe Bulkers by 440.7% in the 2nd quarter. LSV Asset Management now owns 552,357 shares of the shipping company’s stock worth $3,215,000 after buying an additional 450,209 shares in the last quarter. Acadian Asset Management LLC raised its stake in Safe Bulkers by 20.0% during the second quarter. Acadian Asset Management LLC now owns 2,278,803 shares of the shipping company’s stock worth $13,251,000 after acquiring an additional 380,270 shares in the last quarter. Denali Advisors LLC lifted its holdings in shares of Safe Bulkers by 316.6% during the second quarter. Denali Advisors LLC now owns 418,300 shares of the shipping company’s stock valued at $2,435,000 after acquiring an additional 317,900 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in shares of Safe Bulkers in the 3rd quarter valued at $1,480,000. Finally, Walleye Capital LLC bought a new stake in shares of Safe Bulkers in the 3rd quarter worth about $1,109,000. Institutional investors and hedge funds own 21.69% of the company’s stock.

Safe Bulkers Stock Performance

Safe Bulkers stock opened at $3.57 on Wednesday. The stock has a 50-day simple moving average of $3.98 and a 200 day simple moving average of $4.74. The stock has a market capitalization of $381.20 million, a price-to-earnings ratio of 3.97 and a beta of 0.91. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.52. Safe Bulkers, Inc. has a 12-month low of $3.40 and a 12-month high of $6.33.

Safe Bulkers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Monday, December 2nd were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date of this dividend was Monday, December 2nd. Safe Bulkers’s dividend payout ratio is presently 22.22%.

Wall Street Analysts Forecast Growth

SB has been the subject of several analyst reports. Jefferies Financial Group reissued a “buy” rating and set a $6.00 price target on shares of Safe Bulkers in a report on Thursday, November 14th. StockNews.com lowered Safe Bulkers from a “buy” rating to a “hold” rating in a research report on Saturday, December 21st.

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.