Safe Bulkers (NYSE:SB) Receives “Buy” Rating from Jefferies Financial Group

Jefferies Financial Group reiterated their buy rating on shares of Safe Bulkers (NYSE:SB) in a research note released on Thursday,Benzinga reports. The brokerage currently has a $6.00 price objective on the shipping company’s stock.

Separately, StockNews.com downgraded shares of Safe Bulkers from a “buy” rating to a “hold” rating in a research report on Wednesday.

Safe Bulkers Stock Performance

Shares of NYSE SB traded down $0.01 during mid-day trading on Thursday, reaching $4.28. 205,344 shares of the company’s stock were exchanged, compared to its average volume of 664,720. The firm has a market capitalization of $456.98 million, a price-to-earnings ratio of 4.77 and a beta of 0.95. The firm has a 50-day moving average price of $4.63 and a two-hundred day moving average price of $5.16. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.11 and a quick ratio of 2.11. Safe Bulkers has a 52 week low of $3.45 and a 52 week high of $6.33.

Safe Bulkers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Monday, December 2nd will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 4.67%. The ex-dividend date is Monday, December 2nd. Safe Bulkers’s dividend payout ratio (DPR) is currently 22.22%.

Hedge Funds Weigh In On Safe Bulkers

Large investors have recently modified their holdings of the business. Acadian Asset Management LLC lifted its stake in Safe Bulkers by 20.0% in the 2nd quarter. Acadian Asset Management LLC now owns 2,278,803 shares of the shipping company’s stock worth $13,251,000 after purchasing an additional 380,270 shares in the last quarter. American Century Companies Inc. raised its position in shares of Safe Bulkers by 9.8% in the second quarter. American Century Companies Inc. now owns 1,765,187 shares of the shipping company’s stock worth $10,273,000 after buying an additional 157,163 shares in the last quarter. Vanguard Group Inc. boosted its stake in Safe Bulkers by 6.2% during the first quarter. Vanguard Group Inc. now owns 655,429 shares of the shipping company’s stock valued at $3,251,000 after buying an additional 38,162 shares during the period. LSV Asset Management grew its position in Safe Bulkers by 440.7% during the second 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. Finally, Empowered Funds LLC increased its stake in Safe Bulkers by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 519,967 shares of the shipping company’s stock worth $2,693,000 after acquiring an additional 26,398 shares during the last quarter. Hedge funds and other institutional investors own 21.69% of the company’s stock.

About Safe Bulkers

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.