Los Angeles Capital Management LLC Reduces Holdings in Safe Bulkers, Inc. (NYSE:SB)

Los Angeles Capital Management LLC trimmed its holdings in shares of Safe Bulkers, Inc. (NYSE:SBGet Rating) by 17.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 525,515 shares of the shipping company’s stock after selling 108,782 shares during the period. Los Angeles Capital Management LLC owned about 0.43% of Safe Bulkers worth $1,298,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. American International Group Inc. increased its stake in shares of Safe Bulkers by 9.0% during the 2nd quarter. American International Group Inc. now owns 34,299 shares of the shipping company’s stock worth $131,000 after purchasing an additional 2,838 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Safe Bulkers by 1.3% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 453,683 shares of the shipping company’s stock worth $1,733,000 after acquiring an additional 5,881 shares during the last quarter. Belvedere Trading LLC boosted its position in Safe Bulkers by 13.2% during the third quarter. Belvedere Trading LLC now owns 63,364 shares of the shipping company’s stock worth $174,000 after acquiring an additional 7,389 shares during the last quarter. Advisor Group Holdings Inc. boosted its position in Safe Bulkers by 1,074.3% during the first quarter. Advisor Group Holdings Inc. now owns 8,220 shares of the shipping company’s stock worth $39,000 after acquiring an additional 7,520 shares during the last quarter. Finally, Amalgamated Bank acquired a new stake in Safe Bulkers during the first quarter worth approximately $36,000. 25.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Jefferies Financial Group lowered shares of Safe Bulkers from a “buy” rating to a “hold” rating and set a $4.00 target price on the stock. in a research report on Monday, September 26th. Citigroup decreased their target price on shares of Safe Bulkers from $3.50 to $2.85 in a research report on Sunday, November 13th. Finally, StockNews.com lowered shares of Safe Bulkers from a “buy” rating to a “hold” rating in a research report on Saturday, December 17th.

Safe Bulkers Stock Up 3.9 %

Shares of SB opened at $3.19 on Monday. The firm has a market cap of $388.03 million, a PE ratio of 1.99 and a beta of 0.90. The company’s fifty day moving average is $2.90 and its two-hundred day moving average is $3.06. Safe Bulkers, Inc. has a fifty-two week low of $2.35 and a fifty-two week high of $5.12. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.55.

Safe Bulkers (NYSE:SBGet Rating) last announced its quarterly earnings results on Wednesday, November 9th. The shipping company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. The company had revenue of $92.14 million for the quarter, compared to analyst estimates of $80.49 million. Safe Bulkers had a net margin of 57.07% and a return on equity of 25.61%. Analysts forecast that Safe Bulkers, Inc. will post 1.25 earnings per share for the current year.

Safe Bulkers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Monday, November 28th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, November 25th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.27%. Safe Bulkers’s dividend payout ratio (DPR) is presently 12.50%.

Safe Bulkers Profile

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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. As of March 18, 2022, the company had a fleet of 40 drybulk vessels having an average age of 10.4 years; and an aggregate carrying capacity of 3,925,500 deadweight tons.

See Also

Institutional Ownership by Quarter for Safe Bulkers (NYSE:SB)

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