Safe Bulkers (NYSE:SB) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Safe Bulkers (NYSE:SB) from a hold rating to a buy rating in a research note issued to investors on Monday.

Separately, Jefferies Financial Group reissued a “buy” rating and issued a $6.00 price target on shares of Safe Bulkers in a report on Thursday, November 14th.

Safe Bulkers Price Performance

NYSE:SB opened at $3.56 on Monday. Safe Bulkers has a 52-week low of $3.37 and a 52-week high of $6.33. The company has a market cap of $380.13 million, a P/E ratio of 3.96 and a beta of 0.93. 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 stock’s 50-day simple moving average is $3.86 and its 200 day simple moving average is $4.60.

Safe Bulkers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 5.62%. The ex-dividend date was Monday, December 2nd. Safe Bulkers’s payout ratio is currently 22.22%.

Institutional Trading of Safe Bulkers

Several institutional investors have recently added to or reduced their stakes in SB. nVerses Capital LLC grew its stake in Safe Bulkers by 269.0% during the third quarter. nVerses Capital LLC now owns 10,700 shares of the shipping company’s stock worth $55,000 after purchasing an additional 7,800 shares during the period. Intech Investment Management LLC bought a new position in shares of Safe Bulkers during the 3rd quarter worth approximately $86,000. Aigen Investment Management LP acquired a new stake in shares of Safe Bulkers during the 3rd quarter worth approximately $90,000. Verition Fund Management LLC increased its stake in shares of Safe Bulkers by 27.0% in the 3rd quarter. Verition Fund Management LLC now owns 18,400 shares of the shipping company’s stock valued at $95,000 after acquiring an additional 3,913 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of Safe Bulkers during the 2nd quarter valued at $104,000. 21.69% of the stock is currently owned by institutional investors.

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.