Safe Bulkers, Inc. (NYSE:SB) Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC lifted its holdings in shares of Safe Bulkers, Inc. (NYSE:SB - Free Report) by 38.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 317,576 shares of the shipping company's stock after acquiring an additional 88,230 shares during the quarter. Lazard Asset Management LLC owned about 0.30% of Safe Bulkers worth $1,133,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Graham Capital Management L.P. acquired a new position in shares of Safe Bulkers during the 4th quarter valued at $49,000. New Age Alpha Advisors LLC purchased a new stake in Safe Bulkers during the 4th quarter worth $64,000. Two Sigma Securities LLC purchased a new stake in Safe Bulkers during the 4th quarter worth $84,000. Dynamic Technology Lab Private Ltd purchased a new stake in Safe Bulkers during the 4th quarter worth $86,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Safe Bulkers by 23.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,293 shares of the shipping company's stock worth $87,000 after buying an additional 4,680 shares during the period. Institutional investors and hedge funds own 21.69% of the company's stock.

Wall Street Analyst Weigh In

SB has been the topic of several analyst reports. Wall Street Zen downgraded shares of Safe Bulkers from a "buy" rating to a "hold" rating 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. Loop Capital set a $4.20 price target on shares of Safe Bulkers in a research note on Monday, January 27th. Finally, 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.

Safe Bulkers Stock Down 2.9%

Shares of SB traded down $0.11 during midday trading on Thursday, hitting $3.63. The company had a trading volume of 370,156 shares, compared to its average volume of 600,391. The company's 50 day moving average price is $3.50 and its 200 day moving average price is $3.67. The stock has a market cap of $382.24 million, a price-to-earnings ratio of 4.37 and a beta of 1.17. Safe Bulkers, Inc. has a 52 week low of $3.02 and a 52 week high of $6.33. The company has a quick ratio of 1.34, a current ratio of 1.91 and a debt-to-equity ratio of 0.58.

Safe Bulkers (NYSE:SB - Get Free Report) last released its earnings results on Monday, May 19th. The shipping company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. The company had revenue of $64.35 million during the quarter, compared to the consensus estimate of $57.92 million. Safe Bulkers had a net margin of 31.65% and a return on equity of 10.04%. On average, equities research analysts predict that Safe Bulkers, Inc. will post 0.62 EPS for the current year.

Safe Bulkers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 5.51%. The ex-dividend date of this dividend is Friday, June 6th. Safe Bulkers's payout ratio is currently 29.85%.

Safe Bulkers 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.