Safe Bulkers (NYSE:SB) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of Safe Bulkers (NYSE:SB) from a buy rating to a hold rating in a report released on Wednesday.

Safe Bulkers Stock Performance

Shares of SB stock opened at $4.41 on Wednesday. The firm has a market cap of $470.86 million, a price-to-earnings ratio of 5.51 and a beta of 0.95. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $4.63 and its 200 day moving average is $5.16. Safe Bulkers has a 52-week low of $3.26 and a 52-week high of $6.33.

Institutional Trading of Safe Bulkers

Several large investors have recently made changes to their positions in the business. Acadian Asset Management LLC raised its position in shares of Safe Bulkers by 20.0% in 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 during the period. American Century Companies Inc. raised its holdings in Safe Bulkers by 9.8% in the 2nd quarter. American Century Companies Inc. now owns 1,765,187 shares of the shipping company’s stock worth $10,273,000 after purchasing an additional 157,163 shares during the period. Vanguard Group Inc. boosted its position in Safe Bulkers by 6.2% during the first quarter. Vanguard Group Inc. now owns 655,429 shares of the shipping company’s stock worth $3,251,000 after purchasing an additional 38,162 shares in the last quarter. LSV Asset Management boosted 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 purchasing an additional 450,209 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Safe Bulkers by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 519,967 shares of the shipping company’s stock worth $2,693,000 after buying an additional 26,398 shares during the period. 21.69% of the stock is owned by hedge funds and other 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.