220,136 Shares of Safe Bulkers, Inc $SB Acquired by CWA Asset Management Group LLC

Key Points

• CWA Asset Management Group acquired 220,136 Safe Bulkers shares worth approximately $1.88 million, giving it a 0.22% stake. Institutional investors collectively owned 21.69% of the company.
• Safe Bulkers reported quarterly EPS of $0.28, exceeding the $0.22 consensus estimate, while revenue of $87.47 million also topped expectations.
• The company increased its quarterly dividend to $0.075 per share, or $0.30 annually, representing a 3.7% yield. Shares were trading at $8.05, while analysts maintained a “Moderate Buy” consensus with a $6.00 average price target.

CWA Asset Management Group LLC acquired a new position in Safe Bulkers, Inc (NYSE:SB - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 220,136 shares of the shipping company's stock, valued at approximately $1,880,000. CWA Asset Management Group LLC owned 0.22% of Safe Bulkers at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. State Street Corp grew its holdings in shares of Safe Bulkers by 3.6% during the 2nd quarter. State Street Corp now owns 1,648,352 shares of the shipping company's stock worth $10,500,000 after acquiring an additional 57,381 shares during the period. WINTON GROUP Ltd raised its position in shares of Safe Bulkers by 30.3% in the 2nd quarter. WINTON GROUP Ltd now owns 87,356 shares of the shipping company's stock worth $551,000 after acquiring an additional 20,307 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of Safe Bulkers in the 2nd quarter worth approximately $301,000. Two Sigma Securities LLC bought a new position in shares of Safe Bulkers in the 2nd quarter worth approximately $86,000. Finally, Navellier & Associates Inc. purchased a new position in shares of Safe Bulkers in the 2nd quarter valued at approximately $919,000. 21.69% of the stock is owned by institutional investors.

Safe Bulkers Trading Up 2.9%

Shares of NYSE SB opened at $8.05 on Thursday. Safe Bulkers, Inc has a 1 year low of $4.26 and a 1 year high of $9.31. The stock has a market cap of $820.26 million, a P/E ratio of 10.33 and a beta of 0.97. The firm has a 50-day moving average of $8.48 and a 200 day moving average of $7.44. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.00 and a quick ratio of 1.00.

Safe Bulkers (NYSE:SB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The shipping company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.22 by $0.06. The business had revenue of $87.47 million for the quarter, compared to analyst estimates of $77.50 million. Safe Bulkers had a net margin of 28.29% and a return on equity of 9.63%.

Safe Bulkers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Thursday, August 13th were issued a dividend of $0.0750 per share. The ex-dividend date was Thursday, August 13th. This is a positive change from Safe Bulkers's previous quarterly dividend of $0.06. This represents a $0.30 annualized dividend and a dividend yield of 3.7%. Safe Bulkers's dividend payout ratio (DPR) is 38.46%.

Analyst Ratings Changes

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

Safe Bulkers Company Profile

Safe Bulkers, Inc NYSE: SB is a marine transportation company that owns and operates dry bulk vessels. Its fleet transports major and minor bulk commodities, including iron ore, coal, grain, and other raw materials used in global industrial and agricultural supply chains.

The company operates a range of dry bulk vessel classes, including Panamax, Kamsarmax, Ultramax, Supramax, Handysize, and Capesize ships. Safe Bulkers provides transportation services to commodity producers, traders, and other commercial customers through international shipping routes.

Safe Bulkers was founded in 2007 and is incorporated in the Marshall Islands, with its principal executive office in Monaco.

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