Safe Bulkers (NYSE:SB) Shares Pass Above 200 Day Moving Average of $3.29

Safe Bulkers, Inc. (NYSE:SB – Get Rating) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.29 and traded as high as $3.56. Safe Bulkers shares last traded at $3.36, with a volume of 874,314 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. TheStreet upgraded Safe Bulkers from a “c” rating to a “b-” rating in a research report on Thursday, May 11th. StockNews.com began coverage on shares of Safe Bulkers in a report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $3.00 target price on shares of Safe Bulkers in a research note on Thursday, February 16th.

Safe Bulkers Trading Down 4.7 %

The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.51. The company has a market cap of $408.71 million, a P/E ratio of 2.71 and a beta of 0.88. The firm’s 50-day moving average price is $3.63 and its 200-day moving average price is $3.29.

Safe Bulkers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 7th. Shareholders of record on Friday, May 26th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, May 25th. This represents a $0.20 annualized dividend and a yield of 5.95%. Safe Bulkers’s dividend payout ratio (DPR) is presently 16.13%.

Institutional Investors Weigh In On Safe Bulkers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. raised its holdings in shares of Safe Bulkers by 1,074.3% in the first quarter. Advisor Group Holdings Inc. now owns 8,220 shares of the shipping company’s stock valued at $39,000 after acquiring an additional 7,520 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Safe Bulkers by 514.2% during the 1st quarter. JPMorgan Chase & Co. now owns 583,167 shares of the shipping company’s stock worth $2,776,000 after purchasing an additional 488,221 shares during the last quarter. American Century Companies Inc. grew its position in Safe Bulkers by 23.8% in the 1st quarter. American Century Companies Inc. now owns 155,725 shares of the shipping company’s stock valued at $741,000 after acquiring an additional 29,945 shares in the last quarter. Panagora Asset Management Inc. grew its position in shares of Safe Bulkers by 4.4% during the first quarter. Panagora Asset Management Inc. now owns 287,631 shares of the shipping company’s stock worth $1,369,000 after buying an additional 12,181 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in Safe Bulkers by 52.0% during the first quarter. Sei Investments Co. now owns 135,507 shares of the shipping company’s stock worth $645,000 after purchasing an additional 46,333 shares during the last quarter. 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.