Bailard Inc. Makes New Investment in Safe Bulkers, Inc. (NYSE:SB)

Bailard Inc. purchased a new position in Safe Bulkers, Inc. (NYSE:SB) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 43,600 shares of the shipping company’s stock, valued at approximately $254,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its position in Safe Bulkers by 26.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,945 shares of the shipping company’s stock worth $99,000 after buying an additional 4,129 shares during the period. Principal Financial Group Inc. increased its position in Safe Bulkers by 8.0% in the 1st quarter. Principal Financial Group Inc. now owns 58,689 shares of the shipping company’s stock worth $291,000 after buying an additional 4,353 shares during the period. Tidal Investments LLC increased its position in Safe Bulkers by 14.8% in the 1st quarter. Tidal Investments LLC now owns 50,203 shares of the shipping company’s stock worth $249,000 after buying an additional 6,457 shares during the period. BNP Paribas Financial Markets increased its position in Safe Bulkers by 12.7% in the 1st quarter. BNP Paribas Financial Markets now owns 65,898 shares of the shipping company’s stock worth $327,000 after buying an additional 7,409 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Safe Bulkers during the 4th quarter worth approximately $46,000. 21.69% of the stock is owned by institutional investors.

Safe Bulkers Price Performance

Shares of NYSE:SB opened at $5.06 on Tuesday. Safe Bulkers, Inc. has a 1-year low of $2.97 and a 1-year high of $6.33. The firm has a market capitalization of $539.69 million, a PE ratio of 7.43 and a beta of 0.91. The business’s 50 day moving average is $5.41 and its 200-day moving average is $5.19. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.58.

Safe Bulkers (NYSE:SB) last announced its quarterly earnings data on Monday, July 29th. The shipping company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $78.55 million for the quarter, compared to analyst estimates of $69.16 million. Safe Bulkers had a return on equity of 10.78% and a net margin of 31.11%. During the same period in the previous year, the business posted $0.12 EPS. Sell-side analysts predict that Safe Bulkers, Inc. will post 0.86 earnings per share for the current year.

Safe Bulkers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Wednesday, August 21st will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Wednesday, August 21st. Safe Bulkers’s dividend payout ratio is 29.41%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Safe Bulkers from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st.

Safe Bulkers Company Profile

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. The company has a fleet of 47 drybulk vessels having an aggregate carrying capacity of 4,719,600 deadweight tons.