Goldman Sachs Group Inc. Buys 91,662 Shares of Safe Bulkers, Inc $SB

Key Points

• Goldman Sachs Group Inc. increased its holdings in Safe Bulkers, Inc by 6.0%, acquiring an additional 91,662 shares, bringing its total ownership to approximately 1.55%, valued at $6,017,000.
• Safe Bulkers reported a quarterly net revenue of $65.75 million, exceeding analysts' expectations, though its earnings per share of $0.01 fell short of the consensus estimate of $0.08.
• The company announced a quarterly dividend of $0.05, representing an annualized dividend of $0.20 and a dividend yield of 4.4%.

Goldman Sachs Group Inc. lifted its stake in shares of Safe Bulkers, Inc (NYSE:SB - Free Report) by 6.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,630,636 shares of the shipping company's stock after acquiring an additional 91,662 shares during the quarter. Goldman Sachs Group Inc. owned approximately 1.55% of Safe Bulkers worth $6,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. New York State Common Retirement Fund boosted its position in shares of Safe Bulkers by 14.0% during the 1st quarter. New York State Common Retirement Fund now owns 243,159 shares of the shipping company's stock valued at $897,000 after purchasing an additional 29,800 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in Safe Bulkers in the first quarter worth approximately $248,000. Millennium Management LLC boosted its holdings in Safe Bulkers by 128.7% in the fourth quarter. Millennium Management LLC now owns 288,541 shares of the shipping company's stock worth $1,030,000 after acquiring an additional 162,351 shares in the last quarter. Northern Trust Corp boosted its holdings in Safe Bulkers by 23.6% in the fourth quarter. Northern Trust Corp now owns 490,911 shares of the shipping company's stock worth $1,753,000 after acquiring an additional 93,777 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Safe Bulkers by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 17,008 shares of the shipping company's stock worth $61,000 after acquiring an additional 5,596 shares in the last quarter. Institutional investors own 21.69% of the company's stock.

Safe Bulkers Stock Down 1.9%

Shares of SB stock traded down $0.09 during trading hours on Friday, reaching $4.53. The company had a trading volume of 623,007 shares, compared to its average volume of 317,027. Safe Bulkers, Inc has a 12 month low of $3.02 and a 12 month high of $5.24. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.70 and a quick ratio of 1.70. The business has a fifty day simple moving average of $4.27 and a 200-day simple moving average of $3.85. The company has a market cap of $463.51 million, a price-to-earnings ratio of 10.53 and a beta of 1.30.

Safe Bulkers (NYSE:SB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The shipping company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.07). The business had revenue of $65.75 million for the quarter, compared to analysts' expectations of $60.40 million. Safe Bulkers had a net margin of 19.25% and a return on equity of 5.80%. On average, research analysts expect that Safe Bulkers, Inc will post 0.62 earnings per share for the current fiscal year.

Safe Bulkers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Thursday, August 21st were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.20 annualized dividend and a yield of 4.4%. Safe Bulkers's payout ratio is 46.51%.

Safe Bulkers Company Profile

Safe Bulkers, Inc, together with its subsidiaries, provides marine drybulk transportation services. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. The company has a fleet of 47 drybulk vessels having an aggregate carrying capacity of 4,719,600 deadweight tons.