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

Safe Bulkers, Inc (NYSE:SB)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $6.19 and last traded at $6.1550, with a volume of 105309 shares changing hands. The stock had previously closed at $6.05.

Wall Street Analyst Weigh In

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

Safe Bulkers Trading Up 1.2%

The stock has a market capitalization of $626.77 million, a PE ratio of 17.04 and a beta of 1.13. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.72 and a current ratio of 2.72. The business’s 50-day moving average is $5.25 and its two-hundred day moving average is $4.80.

Safe Bulkers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Monday, December 8th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Monday, December 8th. Safe Bulkers’s dividend payout ratio is currently 55.56%.

Hedge Funds Weigh In On Safe Bulkers

A number of large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new stake in shares of Safe Bulkers in the 4th quarter valued at approximately $49,000. Susquehanna Fundamental Investments LLC purchased a new position in Safe Bulkers in the third quarter worth $46,000. Tower Research Capital LLC TRC lifted its holdings in Safe Bulkers by 73.4% in the second quarter. Tower Research Capital LLC TRC now owns 11,088 shares of the shipping company’s stock valued at $40,000 after acquiring an additional 4,692 shares during the period. Cetera Investment Advisers purchased a new stake in shares of Safe Bulkers during the 2nd quarter worth $41,000. Finally, State of Alaska Department of Revenue boosted its position in shares of Safe Bulkers by 106.8% during the 4th quarter. State of Alaska Department of Revenue now owns 11,599 shares of the shipping company’s stock worth $55,000 after purchasing an additional 5,991 shares in the last quarter. 21.69% of the stock is owned by hedge funds and other institutional investors.

About Safe Bulkers

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.