Safe Bulkers (NYSE:SB) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Safe Bulkers, Inc (NYSE:SB) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.40 and traded as high as $4.85. Safe Bulkers shares last traded at $4.8150, with a volume of 319,512 shares changing hands.

Analyst Ratings Changes

A number of analysts have issued reports on SB shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Safe Bulkers in a research report on Monday. Zacks Research upgraded shares of Safe Bulkers from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Jefferies Financial Group increased their price objective on Safe Bulkers from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Safe Bulkers currently has an average rating of “Moderate Buy” and a consensus price target of $4.80.

Safe Bulkers Trading Down 0.3%

The company has a fifty day moving average of $4.83 and a two-hundred day moving average of $4.40. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $492.72 million, a price-to-earnings ratio of 13.38 and a beta of 1.06.

Safe Bulkers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Monday, December 8th were given a dividend of $0.05 per share. The ex-dividend date was Monday, December 8th. This represents a $0.20 annualized dividend and a yield of 4.2%. Safe Bulkers’s payout ratio is presently 55.56%.

Institutional Trading of Safe Bulkers

Several hedge funds have recently modified their holdings of SB. Regatta Capital Group LLC acquired a new position in Safe Bulkers during the second quarter worth $36,000. Tower Research Capital LLC TRC boosted its position in shares of Safe Bulkers by 73.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,088 shares of the shipping company’s stock worth $40,000 after purchasing an additional 4,692 shares in the last quarter. Cetera Investment Advisers purchased a new position in shares of Safe Bulkers in the 2nd quarter valued at about $41,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Safe Bulkers in the third quarter valued at about $46,000. Finally, Evergreen Capital Management LLC purchased a new stake in Safe Bulkers during the second quarter worth about $46,000. 21.69% of the stock is owned by institutional investors and hedge funds.

About Safe Bulkers

Safe Bulkers Inc (NYSE: SB) is a dry bulk shipping company engaged in the ocean transport of commodities such as iron ore, coal, grain, and fertilizers. The company operates a modern fleet of vessels, including Panamax, Supramax and Kamsarmax bulk carriers, designed to serve a variety of trade routes and cargo types. Safe Bulkers’ fleet is employed under both time charter and voyage charter arrangements, offering flexibility to respond to market demand and optimize vessel utilization.

Founded in 2008, Safe Bulkers began trading its shares on the New York Stock Exchange in the same year, establishing itself as a publicly listed provider of dry bulk transportation services.