Safe Bulkers (NYSE:SB) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Safe Bulkers (NYSE:SB – Get Rating) from a hold rating to a buy rating in a report issued on Tuesday.

SB has been the topic of several other research reports. Jefferies Financial Group reissued a hold rating and issued a $3.00 price target on shares of Safe Bulkers in a report on Thursday, February 16th. Citigroup reduced their target price on Safe Bulkers from $3.50 to $2.85 in a research note on Sunday, November 13th.

Safe Bulkers Stock Performance

Shares of SB stock opened at $3.75 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.73 and a quick ratio of 2.20. The company’s fifty day moving average price is $3.15 and its two-hundred day moving average price is $3.00. The firm has a market capitalization of $456.15 million, a P/E ratio of 2.74 and a beta of 0.92. Safe Bulkers has a 12 month low of $2.35 and a 12 month high of $5.12.

Safe Bulkers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 17th. Investors of record on Wednesday, March 1st will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 5.33%. The ex-dividend date of this dividend is Tuesday, February 28th. Safe Bulkers’s dividend payout ratio is currently 14.60%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. American International Group Inc. raised its position 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 valued at $131,000 after acquiring an additional 2,838 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Safe Bulkers by 1.3% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 453,683 shares of the shipping company’s stock worth $1,733,000 after buying an additional 5,881 shares during the last quarter. Belvedere Trading LLC boosted its holdings in shares of Safe Bulkers by 13.2% in the 3rd quarter. Belvedere Trading LLC now owns 63,364 shares of the shipping company’s stock valued at $174,000 after buying an additional 7,389 shares during the period. Quadrature Capital Ltd grew its position in shares of Safe Bulkers by 50.0% during the 3rd quarter. Quadrature Capital Ltd now owns 22,464 shares of the shipping company’s stock valued at $55,000 after buying an additional 7,485 shares during the last quarter. Finally, Advisor Group Holdings Inc. raised its stake 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 period. Institutional investors own 25.95% of the company’s stock.

Safe Bulkers Company Profile

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Safe Bulkers, Inc provides international marine drybulk transportation services. The firm offers transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the world’s largest users of marine drybulk transportation services. The company was founded on December 11, 2007 and is headquartered in Les Acanthes, Monaco.