Denali Advisors LLC Has $362,000 Stock Position in Safe Bulkers, Inc $SB

Key Points

• Denali Advisors sharply reduced its Safe Bulkers stake by 88.6% in the second quarter, selling 447,400 shares and retaining 57,424 shares worth approximately $362,000. Institutional investors collectively own 21.69% of the company.
• Safe Bulkers exceeded quarterly expectations, reporting $0.28 in EPS versus the $0.22 consensus and revenue of $87.47 million versus $77.50 million expected.
• The company raised its quarterly dividend to $0.075 per share, equivalent to a $0.30 annualized payout and a 3.6% yield. Analysts maintain a consensus “Hold” rating with a $6.00 average price target, below the stock’s reported $8.25 price.

Denali Advisors LLC lessened its holdings in Safe Bulkers, Inc (NYSE:SB - Free Report) by 88.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 57,424 shares of the shipping company's stock after selling 447,400 shares during the quarter. Denali Advisors LLC owned 0.06% of Safe Bulkers worth $362,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its position in Safe Bulkers by 77.7% during the first quarter. PNC Financial Services Group Inc. now owns 4,917 shares of the shipping company's stock worth $31,000 after acquiring an additional 2,150 shares during the period. Tidal Investments LLC boosted its holdings in Safe Bulkers by 5.9% in the 2nd quarter. Tidal Investments LLC now owns 43,299 shares of the shipping company's stock valued at $156,000 after purchasing an additional 2,423 shares during the period. DGS Capital Management LLC boosted its holdings in Safe Bulkers by 17.3% in the 1st quarter. DGS Capital Management LLC now owns 20,918 shares of the shipping company's stock valued at $132,000 after purchasing an additional 3,079 shares during the period. Vanguard Group Inc. boosted its holdings in Safe Bulkers by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 765,593 shares of the shipping company's stock valued at $3,399,000 after purchasing an additional 4,300 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Safe Bulkers by 4.7% during the 4th quarter. AQR Capital Management LLC now owns 104,626 shares of the shipping company's stock worth $504,000 after purchasing an additional 4,651 shares in the last quarter. Institutional investors own 21.69% of the company's stock.

Safe Bulkers Stock Performance

SB opened at $8.25 on Friday. The firm has a market cap of $840.10 million, a P/E ratio of 10.58 and a beta of 0.84. Safe Bulkers, Inc has a 52-week low of $4.14 and a 52-week high of $8.35. 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 business's fifty day moving average is $7.18 and its 200-day moving average is $6.69.

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

Safe Bulkers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, August 13th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Thursday, August 13th. This is a boost from Safe Bulkers's previous quarterly dividend of $0.06. Safe Bulkers's dividend payout ratio is presently 38.46%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Safe Bulkers from a "strong-buy" rating to a "buy" rating in a 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 data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $6.00.

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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