Safe Bulkers (NYSE:SB) Trading Down 4.6%

Shares of Safe Bulkers, Inc. (NYSE:SB) were down 4.6% on Friday . The company traded as low as $5.86 and last traded at $5.87. Approximately 196,407 shares changed hands during trading, a decline of 74% from the average daily volume of 754,797 shares. The stock had previously closed at $6.15.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Safe Bulkers from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st.

Safe Bulkers Trading Down 4.6 %

The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average is $5.65 and its 200-day moving average is $4.86. The firm has a market cap of $626.68 million, a P/E ratio of 9.04 and a beta of 0.92.

Safe Bulkers (NYSE:SB) last issued its quarterly earnings results on Tuesday, April 30th. The shipping company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Safe Bulkers had a return on equity of 10.29% and a net margin of 27.85%. The company had revenue of $81.67 million during the quarter. During the same period in the previous year, the business posted $0.10 EPS. As a group, analysts forecast that Safe Bulkers, Inc. will post 0.86 earnings per share for the current fiscal year.

Safe Bulkers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Friday, May 17th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Thursday, May 16th. Safe Bulkers’s dividend payout ratio (DPR) is 29.41%.

Institutional Investors Weigh In On Safe Bulkers

A number of hedge funds have recently added to or reduced their stakes in SB. Pinnacle Wealth Planning Services Inc. bought a new stake in Safe Bulkers in the fourth quarter valued at $46,000. Welch Group LLC raised its stake in shares of Safe Bulkers by 30.0% during the fourth quarter. Welch Group LLC now owns 13,000 shares of the shipping company’s stock valued at $51,000 after purchasing an additional 3,000 shares in the last quarter. Regatta Capital Group LLC bought a new stake in shares of Safe Bulkers during the fourth quarter valued at about $53,000. Tower Research Capital LLC TRC raised its stake in shares of Safe Bulkers by 432.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,031 shares of the shipping company’s stock valued at $59,000 after purchasing an additional 12,210 shares in the last quarter. Finally, Simplicity Solutions LLC bought a new stake in shares of Safe Bulkers during the fourth quarter valued at about $85,000. 21.69% of the stock is currently owned by institutional investors.

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.