Renaissance Technologies LLC Decreases Stock Position in Safe Bulkers, Inc. (NYSE:SB)

Renaissance Technologies LLC decreased its position in shares of Safe Bulkers, Inc. (NYSE:SB – Get Rating) by 1.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,872,486 shares of the shipping company’s stock after selling 38,483 shares during the period. Renaissance Technologies LLC owned approximately 3.18% of Safe Bulkers worth $9,565,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Advisor Group Holdings Inc. raised its position in Safe Bulkers by 1,074.3% in the 1st quarter. Advisor Group Holdings Inc. now owns 8,220 shares of the shipping company’s stock worth $39,000 after purchasing an additional 7,520 shares during the period. Beacon Pointe Advisors LLC purchased a new stake in shares of Safe Bulkers in the second quarter worth approximately $38,000. Virtu Financial LLC bought a new stake in shares of Safe Bulkers during the 2nd quarter worth approximately $42,000. Mirabella Financial Services LLP purchased a new position in Safe Bulkers during the 1st quarter valued at $56,000. Finally, Lazard Asset Management LLC purchased a new position in Safe Bulkers during the 1st quarter valued at $70,000. Institutional investors own 25.95% of the company’s stock.

Safe Bulkers Trading Down 2.9 %

Shares of NYSE SB opened at $3.66 on Tuesday. Safe Bulkers, Inc. has a twelve month low of $2.35 and a twelve month high of $5.12. The company has a quick ratio of 2.20, a current ratio of 1.73 and a debt-to-equity ratio of 0.48. The business has a fifty day simple moving average of $3.22 and a two-hundred day simple moving average of $3.00. The firm has a market cap of $445.20 million, a PE ratio of 2.67 and a beta of 0.91.

Safe Bulkers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 17th. Shareholders of record on Wednesday, March 1st will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 5.46%. The ex-dividend date is Tuesday, February 28th. Safe Bulkers’s payout ratio is 14.60%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SB. Citigroup reduced their target price on Safe Bulkers from $3.50 to $2.85 in a research note on Sunday, November 13th. Jefferies Financial Group reiterated a “hold” rating and set a $3.00 price objective on shares of Safe Bulkers in a report on Thursday, February 16th. Finally, StockNews.com upgraded shares of Safe Bulkers from a “hold” rating to a “buy” rating in a research note on Tuesday, February 28th.

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.