Connor Clark & Lunn Investment Management Ltd. purchased a new position in Safe Bulkers, Inc (NYSE:SB - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 901,725 shares of the shipping company's stock, valued at approximately $5,690,000. Connor Clark & Lunn Investment Management Ltd. owned 0.89% of Safe Bulkers at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Safe Bulkers during the 2nd quarter valued at $22,450,000. Fearnley Asset Management AS bought a new position in Safe Bulkers in the 4th quarter worth about $5,112,000. Goldman Sachs Group Inc. boosted its stake in Safe Bulkers by 30.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,651,114 shares of the shipping company's stock worth $12,778,000 after purchasing an additional 617,711 shares during the period. Millennium Management LLC bought a new position in Safe Bulkers in the 4th quarter worth about $1,571,000. Finally, Lazard Asset Management LLC purchased a new position in Safe Bulkers during the 1st quarter valued at about $1,625,000. 21.69% of the stock is currently owned by hedge funds and other institutional investors.
Safe Bulkers Stock Performance
NYSE SB opened at $8.44 on Friday. Safe Bulkers, Inc has a 1 year low of $4.14 and a 1 year high of $8.76. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $858.96 million, a PE ratio of 10.81 and a beta of 0.84. The company's 50 day simple moving average is $7.37 and its two-hundred day simple moving average is $6.80.
Safe Bulkers (NYSE:SB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The shipping company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.22 by $0.06. The firm had revenue of $87.47 million during the quarter, compared to the consensus estimate 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 disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Thursday, August 13th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend 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%.
Wall Street Analyst Weigh In
Separately, Wall Street Zen cut Safe Bulkers from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $6.00.
Read Our Latest Report on Safe Bulkers
Safe Bulkers Profile
(
Free Report)
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.
Read More
Want to see what other hedge funds are holding SB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Safe Bulkers, Inc (NYSE:SB - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Safe Bulkers, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Safe Bulkers wasn't on the list.
While Safe Bulkers currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy is entering a new growth cycle as rising power demand, expanding data centers, and renewed policy support bring the sector back into focus. After strong gains in recent years, the most impactful phase of nuclear investment may still be ahead.
This report highlights seven nuclear energy stocks positioned across the value chain—combining near-term revenue with long-term upside as next-generation technologies scale. Click the link below to unlock the full list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
