Two Sigma Investments LP Trims Stake in Safe Bulkers, Inc. (NYSE:SB)

Two Sigma Investments LP reduced its position in Safe Bulkers, Inc. (NYSE:SB) by 66.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 160,186 shares of the shipping company’s stock after selling 318,353 shares during the period. Two Sigma Investments LP owned 0.15% of Safe Bulkers worth $572,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Graham Capital Management L.P. purchased a new stake in shares of Safe Bulkers in the 4th quarter valued at about $49,000. ProShare Advisors LLC increased its position in Safe Bulkers by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 17,008 shares of the shipping company’s stock valued at $61,000 after acquiring an additional 5,596 shares during the period. New Age Alpha Advisors LLC acquired a new position in Safe Bulkers in the 4th quarter valued at about $64,000. Two Sigma Securities LLC acquired a new position in Safe Bulkers in the 4th quarter valued at about $84,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Safe Bulkers in the 4th quarter valued at about $86,000. 21.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group restated a “buy” rating and issued a $5.00 price target on shares of Safe Bulkers in a research report on Tuesday, May 20th.

Safe Bulkers Stock Performance

NYSE SB opened at $3.80 on Monday. The company has a current ratio of 1.91, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $3.50 and its two-hundred day moving average is $3.62. Safe Bulkers, Inc. has a 12-month low of $3.02 and a 12-month high of $6.22. The stock has a market capitalization of $399.61 million, a price-to-earnings ratio of 4.57 and a beta of 1.21.

Safe Bulkers (NYSE:SB) last released its earnings results on Monday, May 19th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. The company had revenue of $64.35 million for the quarter, compared to analysts’ expectations of $57.92 million. Safe Bulkers had a return on equity of 10.04% and a net margin of 31.65%. Research analysts expect that Safe Bulkers, Inc. will post 0.62 EPS for the current year.

Safe Bulkers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date is Friday, June 6th. Safe Bulkers’s dividend payout ratio is currently 29.85%.

About Safe Bulkers

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.