Safe Bulkers (NYSE:SB) Reaches New 12-Month High – Here’s What Happened

Shares of Safe Bulkers, Inc (NYSE:SB) hit a new 52-week high during trading on Wednesday . The stock traded as high as $5.58 and last traded at $5.4850, with a volume of 409 shares. The stock had previously closed at $5.40.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group boosted their target price on Safe Bulkers from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of Safe Bulkers in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.00.

Safe Bulkers Trading Up 1.2%

The company has a debt-to-equity ratio of 0.58, a current ratio of 2.72 and a quick ratio of 2.72. The company has a market capitalization of $581.75 million, a P/E ratio of 15.79 and a beta of 1.06. The firm has a fifty day moving average price of $5.10 and a 200-day moving average price of $4.64.

Safe Bulkers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Monday, December 8th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Monday, December 8th. Safe Bulkers’s dividend payout ratio is currently 55.56%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its stake in Safe Bulkers by 73.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,088 shares of the shipping company’s stock worth $40,000 after buying an additional 4,692 shares during the period. Cetera Investment Advisers acquired a new position in shares of Safe Bulkers during the 2nd quarter worth about $41,000. Susquehanna Fundamental Investments LLC acquired a new stake in Safe Bulkers in the 3rd quarter valued at about $46,000. Evergreen Capital Management LLC acquired a new position in Safe Bulkers in the 2nd quarter valued at about $46,000. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Safe Bulkers by 106.8% in the 4th quarter. State of Alaska Department of Revenue now owns 11,599 shares of the shipping company’s stock worth $55,000 after acquiring an additional 5,991 shares during the last quarter. 21.69% of the stock is currently owned by institutional investors.

Safe Bulkers Company Profile

Safe Bulkers Inc (NYSE: SB) is a dry bulk shipping company engaged in the ocean transport of commodities such as iron ore, coal, grain, and fertilizers. The company operates a modern fleet of vessels, including Panamax, Supramax and Kamsarmax bulk carriers, designed to serve a variety of trade routes and cargo types. Safe Bulkers’ fleet is employed under both time charter and voyage charter arrangements, offering flexibility to respond to market demand and optimize vessel utilization.

Founded in 2008, Safe Bulkers began trading its shares on the New York Stock Exchange in the same year, establishing itself as a publicly listed provider of dry bulk transportation services.