Lazard Asset Management LLC boosted its holdings in Safe Bulkers, Inc. (NYSE:SB - Free Report) by 38.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 317,576 shares of the shipping company's stock after purchasing an additional 88,230 shares during the quarter. Lazard Asset Management LLC owned about 0.30% of Safe Bulkers worth $1,133,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Graham Capital Management L.P. acquired a new position in Safe Bulkers in the 4th quarter valued at $49,000. D. E. Shaw & Co. Inc. acquired a new position in Safe Bulkers in the 4th quarter valued at $648,000. Bridgeway Capital Management LLC increased its stake in Safe Bulkers by 2.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,088,662 shares of the shipping company's stock valued at $3,887,000 after buying an additional 26,595 shares during the period. Algert Global LLC increased its stake in Safe Bulkers by 42.1% in the 4th quarter. Algert Global LLC now owns 25,403 shares of the shipping company's stock valued at $91,000 after buying an additional 7,520 shares during the period. Finally, Northern Trust Corp increased its stake in Safe Bulkers by 23.6% in the 4th quarter. Northern Trust Corp now owns 490,911 shares of the shipping company's stock valued at $1,753,000 after buying an additional 93,777 shares during the period. Hedge funds and other institutional investors own 21.69% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on SB shares. Loop Capital set a $4.20 price target on shares of Safe Bulkers in a research note on Monday, January 27th. Jefferies Financial Group reaffirmed a "buy" rating and set a $5.00 price target on shares of Safe Bulkers in a research note on Tuesday, May 20th. DNB Markets raised shares of Safe Bulkers from a "hold" rating to a "buy" rating and set a $4.20 price target on the stock in a research note on Monday, January 27th. Finally, Wall Street Zen cut shares of Safe Bulkers from a "buy" rating to a "hold" rating in a research note on Monday, January 27th.
Check Out Our Latest Report on SB
Safe Bulkers Price Performance
Shares of NYSE:SB traded up $0.04 on Friday, reaching $3.67. 379,667 shares of the company were exchanged, compared to its average volume of 598,446. The firm has a market cap of $385.92 million, a price-to-earnings ratio of 4.42 and a beta of 1.17. Safe Bulkers, Inc. has a 1-year low of $3.02 and a 1-year high of $6.33. The company has a 50-day moving average of $3.50 and a 200-day moving average of $3.65. The company has a current ratio of 1.91, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58.
Safe Bulkers (NYSE:SB - Get Free Report) last issued its quarterly earnings data on Monday, May 19th. The shipping company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.02. The firm had revenue of $64.35 million for the quarter, compared to analysts' expectations of $57.92 million. Safe Bulkers had a net margin of 31.65% and a return on equity of 10.04%. Equities analysts forecast that Safe Bulkers, Inc. will post 0.62 earnings per share for the current fiscal year.
Safe Bulkers Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a $0.05 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.20 dividend on an annualized basis and a yield of 5.46%. Safe Bulkers's payout ratio is 29.85%.
Safe Bulkers Company Profile
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Free Report)
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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