Janney Montgomery Scott LLC Invests $381,000 in Safe Bulkers, Inc $SB

Key Points

• Janney Montgomery Scott LLC invested approximately $381,000 in Safe Bulkers, Inc, acquiring 105,554 shares in the second quarter.
• Safe Bulkers recently announced a quarterly dividend of $0.05 per share, reflecting a dividend yield of 4.6%.
• The company reported earnings per share (EPS) of $0.01 for the last quarter, falling short of the consensus estimate of $0.08.

Janney Montgomery Scott LLC bought a new position in Safe Bulkers, Inc (NYSE:SB - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 105,554 shares of the shipping company's stock, valued at approximately $381,000. Janney Montgomery Scott LLC owned approximately 0.10% of Safe Bulkers at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Regatta Capital Group LLC acquired a new position in shares of Safe Bulkers in the 2nd quarter worth approximately $36,000. Goldman Sachs Group Inc. raised its holdings in shares of Safe Bulkers by 6.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,630,636 shares of the shipping company's stock worth $6,017,000 after buying an additional 91,662 shares in the last quarter. Jane Street Group LLC raised its position 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 valued at $501,000 after purchasing an additional 4,836 shares during the last quarter. Empowered Funds LLC boosted its stake in Safe Bulkers by 5.4% in the first quarter. Empowered Funds LLC now owns 576,229 shares of the shipping company's stock worth $2,126,000 after purchasing an additional 29,667 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in shares of Safe Bulkers by 2.7% during the first quarter. Bridgeway Capital Management LLC now owns 1,118,329 shares of the shipping company's stock worth $4,127,000 after purchasing an additional 29,667 shares during the last quarter. 21.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SB shares. Weiss Ratings restated a "hold (c)" rating on shares of Safe Bulkers in a research note on Wednesday, October 8th. Zacks Research upgraded Safe Bulkers from a "strong sell" rating to a "hold" rating in a research note on Monday, September 29th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Safe Bulkers presently has an average rating of "Moderate Buy" and an average price target of $4.47.

Safe Bulkers Stock Up 0.1%

NYSE SB opened at $4.32 on Friday. The stock has a fifty day moving average of $4.39 and a 200-day moving average of $3.94. The stock has a market capitalization of $441.51 million, a P/E ratio of 10.03 and a beta of 1.28. Safe Bulkers, Inc has a 52 week low of $3.02 and a 52 week high of $4.72. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.70 and a current ratio of 1.70.

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

Safe Bulkers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Thursday, August 21st were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Thursday, August 21st. Safe Bulkers's dividend payout ratio (DPR) is 46.51%.

About Safe Bulkers

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.

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