143,344 Shares in Safe Bulkers, Inc $SB Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 143,344 Safe Bulkers shares worth approximately $904,000, giving it a 0.14% stake. Institutional investors and hedge funds collectively own 21.69% of the company.
• Analyst sentiment is cautious: Safe Bulkers has an average rating of “Hold” from three analysts, with a consensus price target of $6.00.
• Safe Bulkers exceeded quarterly expectations, reporting $0.28 in EPS and $87.47 million in revenue, and increased its quarterly dividend to $0.075, equivalent to a 3.6% annual yield.

Bank of New York Mellon Corp acquired a new stake in shares of Safe Bulkers, Inc (NYSE:SB - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 143,344 shares of the shipping company's stock, valued at approximately $904,000. Bank of New York Mellon Corp owned about 0.14% of Safe Bulkers at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in shares of Safe Bulkers by 67.0% in the 1st quarter. AQR Capital Management LLC now owns 68,052 shares of the shipping company's stock valued at $251,000 after acquiring an additional 27,292 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Safe Bulkers by 6.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,630,636 shares of the shipping company's stock valued at $6,017,000 after purchasing an additional 91,662 shares during the period. Empowered Funds LLC raised its position in Safe Bulkers by 5.4% during the first quarter. Empowered Funds LLC now owns 576,229 shares of the shipping company's stock worth $2,126,000 after acquiring an additional 29,667 shares during the period. Jane Street Group LLC boosted its holdings in Safe Bulkers by 3.7% in the 1st quarter. Jane Street Group LLC now owns 135,870 shares of the shipping company's stock worth $501,000 after buying an additional 4,836 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new stake in shares of Safe Bulkers in the second quarter worth approximately $41,000. Institutional investors and hedge funds own 21.69% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Safe Bulkers from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $6.00.

Safe Bulkers Stock Up 0.1%

Safe Bulkers stock opened at $8.37 on Friday. The firm has a 50 day moving average price of $7.81 and a 200 day moving average price of $6.99. Safe Bulkers, Inc has a fifty-two week low of $4.14 and a fifty-two week high of $9.31. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $852.52 million, a PE ratio of 10.73 and a beta of 0.82.

Safe Bulkers (NYSE:SB - Get Free Report) last announced its earnings results on Tuesday, July 28th. The shipping company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.06. Safe Bulkers had a return on equity of 9.63% and a net margin of 28.29%.The company had revenue of $87.47 million during the quarter, compared to analysts' expectations of $77.50 million.

Safe Bulkers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Thursday, August 13th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 3.6%. This is a boost from Safe Bulkers's previous quarterly dividend of $0.06. The ex-dividend date was Thursday, August 13th. Safe Bulkers's dividend payout ratio (DPR) is 38.46%.

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.

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