Safe Bulkers, Inc. (SB) Position Raised by Nationwide Fund Advisors
Nationwide Fund Advisors boosted its stake in Safe Bulkers, Inc. (NYSE:SB) by 282.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 100,618 shares of the shipping company’s stock after purchasing an additional 74,335 shares during the quarter. Nationwide Fund Advisors owned about 0.10% of Safe Bulkers worth $276,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in SB. New York State Common Retirement Fund purchased a new stake in Safe Bulkers in the second quarter valued at approximately $117,000. Rhumbline Advisers purchased a new stake in Safe Bulkers in the second quarter valued at approximately $117,000. Engineers Gate Manager LP purchased a new stake in Safe Bulkers in the second quarter valued at approximately $131,000. Credit Suisse AG purchased a new stake in Safe Bulkers in the first quarter valued at approximately $140,000. Finally, Schwab Charles Investment Management Inc. purchased a new stake in Safe Bulkers in the second quarter valued at approximately $190,000. Hedge funds and other institutional investors own 20.12% of the company’s stock.
Safe Bulkers, Inc. (NYSE:SB) opened at $3.37 on Thursday. The firm has a market cap of $343.16, a P/E ratio of -17.74 and a beta of 2.27. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.28 and a current ratio of 2.28. Safe Bulkers, Inc. has a 12-month low of $1.21 and a 12-month high of $3.79.
Safe Bulkers (NYSE:SB) last announced its quarterly earnings results on Tuesday, October 31st. The shipping company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $38.80 million for the quarter, compared to analysts’ expectations of $37.12 million. Safe Bulkers had a negative net margin of 2.01% and a negative return on equity of 2.10%. Safe Bulkers’s revenue was up 37.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.15) earnings per share. equities research analysts predict that Safe Bulkers, Inc. will post -0.19 EPS for the current year.
A number of research analysts have weighed in on the stock. ValuEngine cut shares of Safe Bulkers from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Maxim Group set a $5.00 price target on shares of Safe Bulkers and gave the company a “buy” rating in a research report on Sunday, November 19th. Zacks Investment Research raised shares of Safe Bulkers from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Stifel Nicolaus set a $2.00 price target on shares of Safe Bulkers and gave the company a “hold” rating in a research report on Saturday, October 21st. Finally, Jefferies Group assumed coverage on shares of Safe Bulkers in a research report on Monday, December 18th. They set a “hold” rating and a $3.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $3.10.
Safe Bulkers Company Profile
Safe Bulkers, Inc is a holding company. The Company’s principal business is the acquisition, ownership and operation of drybulk vessels. The Company’s vessels operate across the world, carrying drybulk cargo for the consumers of marine drybulk transportation services. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along shipping routes across the world.
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