Safe Bulkers, Inc (NYSE:SB) Sees Large Growth in Short Interest

Safe Bulkers, Inc (NYSE:SB) was the target of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 1,789,089 shares, an increase of 20.6% from the February 26th total of 1,484,027 shares. Approximately 2.9% of the company’s stock are sold short. Based on an average trading volume of 873,969 shares, the days-to-cover ratio is currently 2.0 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Safe Bulkers in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.00.

Hedge Funds Weigh In On Safe Bulkers

A number of institutional investors have recently bought and sold shares of the business. Fearnley Asset Management AS bought a new stake in Safe Bulkers in the fourth quarter valued at approximately $5,112,000. Goldman Sachs Group Inc. boosted its stake in shares of Safe Bulkers by 30.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,651,114 shares of the shipping company’s stock worth $12,778,000 after acquiring an additional 617,711 shares during the period. Millennium Management LLC acquired a new position in shares of Safe Bulkers during the 4th quarter worth approximately $1,571,000. American Century Companies Inc. raised its stake in Safe Bulkers by 16.6% in the 2nd quarter. American Century Companies Inc. now owns 1,441,089 shares of the shipping company’s stock valued at $5,202,000 after acquiring an additional 204,874 shares during the period. Finally, Boothbay Fund Management LLC bought a new stake in Safe Bulkers in the 3rd quarter valued at $629,000. Institutional investors and hedge funds own 21.69% of the company’s stock.

Safe Bulkers Price Performance

Shares of SB opened at $6.45 on Thursday. The company has a current ratio of 2.90, a quick ratio of 2.63 and a debt-to-equity ratio of 0.60. The company’s fifty day simple moving average is $6.04 and its 200 day simple moving average is $5.23. Safe Bulkers has a 1-year low of $3.02 and a 1-year high of $6.68. The company has a market cap of $659.07 million, a price-to-earnings ratio of 21.48 and a beta of 1.08.

Safe Bulkers (NYSE:SB) last announced its quarterly earnings results on Saturday, February 14th. The shipping company reported $0.14 EPS for the quarter, meeting analysts’ consensus estimates of $0.14. Safe Bulkers had a net margin of 13.99% and a return on equity of 4.91%. The firm had revenue of $72.57 million during the quarter, compared to analysts’ expectations of $70.00 million. On average, research analysts forecast that Safe Bulkers will post 0.62 earnings per share for the current fiscal year.

Safe Bulkers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Monday, March 2nd were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 3.1%. The ex-dividend date was Monday, March 2nd. Safe Bulkers’s dividend payout ratio (DPR) is 66.67%.

Safe Bulkers Company Profile

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.